There are 4 Southwest Airlines credit cards offered by Chase. The normal bonus for these cards is 25,000 Rapid Rewards points. Very frequently, the Southwest Airlines 50000 points offers return, which is the case now. This is normally advertised by Southwest as 2 free flights.
Since 60 Rapid Rewards in “Wanna Get Away” fares are worth $1, each point is worth ~1.67 cents. Thus, 50,000 points is worth ~$833. However on March 31st, a devaluation occurs where 70 Rapid Rewards points in “Wanna Get Away” fares equals $1, so that each point will be worth ~1.43 cents.
Applying for a personal and business credit card at the same time will yield 100,000 points getting you closer to the extremely valuable companion pass which requires earning 110,000 points.
A companion pass allows a companion to fly with you free on any Southwest flight booked effectively doubling the value of the 110,000 points.
There are a lot of activities which qualify toward the companion pass and I was able to earn it using a combination of a few of them.
January is the best time for this offer to be available because if you get it now, it will be valid till December 31st, 2015!