Alaska Airlines credit cards both personal and business do have an annual fee. Because each year you pay for the annual fee on that credit card, it's important you evaluate whether it's worth it or not to keep the card or let it go based on the perks that the card provides. I have been paying the reasonable low annual fee $75 of Alaska Airlines credit card ever since because I enjoy maximizing the Companion Fare Discount benefit each year to fly with my travel companion to different places that Alaska Airlines flies to.

Fly to Hawaii With Alaska Airlines Companion Fare to Save Money!
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    Alaska Airline Companion Fare Details

    You don't need to worry about the blackout dates or eligible fare class, as long as Alaska has economy cabin inventory available on a specific flight schedule that you want to book, the primary traveler can just pay for the full fare, and the companion always pays only $99 plus taxes and fees.

    Maximizing Alaska Airlines Companion Fare Discount Benefit:

    Use Alaska Companion Fare for Saver Economy Fare

    Although the companion fare discount can be used towards economy seats only, you can use the companion fare discount for an already discounted economy seats known as "Saver" Alaska Airlines Saver fare is not as restrictive as competitors. You can still bring one carry-on and select an eligible Saver seat at the back if you purchase the ticket far in advance. If all Saver seats are taken, you and your travel companion will be assigned seats on the day of travel. If you must sit together, then Saver fare may not be ideal for you. 

    Because the companion fare benefit is part of the Alaska Airlines credit card, you can still receive a free checked bag on Alaska flights for you and up to six other guests on the same reservation, even your tickets are Saver.

    Use Alaska Companion Fare for One-way, Round-trip, Stop-over, Open-Jaw     

    Alaska's companion fare discount code can be used towards a one-way, round-trip, or even multiple-city itinerary.
    • You can fly from Point A to Point B, stop-over a few days, then continue on to Point C. This is known as "Stop-over." 
    • You can fly from Point A to Point B, stop-over a few days, then take another transportation to Point C for additional few more days. After that, fly from Point C to Point D or return to Point A. This is known as "Open-Jaw."
    The opportunities here are huge when you can use companion fare for a multiple-city itinerary. Be creative and have fun with the search!

    Use Alaska Companion Fare for Special Sport Events, Concerts, Festivals and Holidays

    Superbowl, Mardi Gras, Christmas, New Year, such and such concert events.... to name a few. These type of events can cause the price of the flight ticket to go up. With Alaska's famous companion fare, there's no blackout dates. As long as two economy tickets are available, the primary pays the full fare and companion pays just $99 plus taxes and fees.

    Use Alaska Companion Fare for International Destinations

    Does all-inclusive resorts in Mexico with pristine beaches sound good to you? Then you and your travel companion are in luck. Alaska Airlines flies to a number of beach destinations in Mexico. If nature and rain-forest sound better, Alaska Airlines can take you both to Costa Rica. If you prefer closer to home, Canada fits the bill.
    The following are the cities in each International destination that Alaska airlines currently flies to:
    • Mexico: Cancun, Guadalajara, Loreto, Los Cabos, Manzanillo, Mazatlan, Puerto Vallarta, Zihuatanejo
    • Costa Rica: Liberia, San Jose
    • Canada: Calgary, Edmonton, Kelowna, Vancouver, Victoria

    Use Alaska Companion Fare to Fly to Hawaii

    Hawaii is expensive in general and it's more fun when you travel there with someone. Thankfully, Alaska airlines flies to all the islands in Hawaii: Kauai, Kona (Big Island), Maui, Oahu. So you can take advantage of the companion fare to take someone with you and save some money on the flights for two. Remember, one-way, round-trip, or even multiple-city itinerary are all eligible for companion fare discount. 

    Use Alaska Companion Fare for Friends & Family 

    If you are the Alaska Airlines Visa Credit Card holder, do you know that you can still use the companion fare discount benefit for others, even though you are not flying? Yes, according to Alaska:

    “The Mileage Plan™ member who owns the companion fare code must either be one of the travelers or the purchaser of the reservation. If the member is allowing two travelers to use his or her companion fare code, then the member’s name must match the name on the credit card used to purchase the reservation.

    So yes, you don't have to be on the reservation. However, it is important that when you purchase the tickets using the companion fare discount code, you must use your credit card that has your name on it to book.

    Use Alaska Companion Fare for First Class Upgrade

    Alaska Airlines blog does a great job on explaining this First Class upgrade using the companion fare benefit. So instead of re-iterating what they talked about over there, I am just going to recommend you to read up on it here

    The gist of it is, although you can only use companion fare discount code for economy class tickets, you can still use it to save money for first class tickets, subject to Alaska Airlines upgrade policy in that linked article.