No, you do not lose your Southwest Airlines Companion Pass immediately upon canceling your Southwest Rapid Rewards credit card from Chase, provided you have already earned the pass. Once the Companion Pass is officially posted to your Rapid Rewards account, it is a earned member benefit that remains valid through its expiration date (usually the end of the next calendar year), regardless of your card's status. However, canceling the card has significant future consequences: you will lose the ability to earn the 10,000-point "boost" toward your next year's qualification and you will stop earning the "tier-qualifying points" that come from card spending. Additionally, any "pending" points from your final billing cycle may not post to your account if the card is closed before the statement closes. While your current pass is safe, canceling the card makes it much harder to qualify for the pass in subsequent years, as you'll have to earn the full 135,000 points (in 2026) through flights and other partners alone.