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I was very excited about the current companion promotion until I read the terms which state that it could take up to two months for this benefit to post to my account after I charged the requisite $4,000. If it takes me three months to spend $4,000 on my credit card and two months for the companion benefit to post to my account, it could be five months from the date I received the card before I could use the benefit. While I understand that how fast I spend the required $4,000 is within my control, it doesn't seem right that I should have to wait up to two additional months before I can use the 30,000 points or the companion benefit. This is particularly unfair with regards to use of the companion benefits as it expires December 31, 2019. While I am still considering this promotion, it's decidedly less attractive after reading the terms. Too bad.
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Two months seems like a long time, I would expect it to be processed faster.
But either way, for many people the promotion is just a bonus on top of what else they might otherwise have done, or minor tweaks to their spending habits.
There will also be a few people that don't take all three months to hit the spend either, so on average people will be getting CP for a longer time than you refer to.
Good luck if you decide to go for it, I hope that it comes in on the faster side than what the fine print says.