I just got the alaska airlines card from bank of america. It came with a $99 companion fare ticket up front, and then I get another one every year on my anniversary date. Plus it came with a balance of 25,000 miles which is the equivalent to a one-way ticket most places in the country. Then I get 3 miles for every dollar I spend.
But, in order to get the up front companion fare ticket and the 25,000 miles you have to qualify for their top card- so really good credit-- there are cards for people with lower credit that come with lesser perks.
I applied because Im going to hawaii in may and wanted that initial companion fare.