Review of the Southwest Rapid Rewards® Premier Credit Card
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Southwest Rapid Rewards® Premier Credit Card
The Southwest Rapid Rewards® Premier Credit Card is a co-branded credit card offered by Southwest Airlines and Chase. It provides 2 Rapid Rewards points for every $1 spent on eligible flights purchased from Southwest Airlines, as well as eligible purchases from Southwest Rapid Rewards Hotel and Car Rental Partners.
New cardholders can earn 40,000 bonus points for spending just $1,000 on purchases in the first 3 months.
Frequent Southwest flyers will get the most out of this card.
The Southwest Premier card is one of several co-branded Southwest credit cards, including business cards.
| Card | Annual Fee | Rewards |
|---|---|---|
| Southwest Rapid Rewards® Plus Credit Card | $69 |
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| Southwest Rapid Rewards® Premier Credit Card (This review) | $99 |
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| Southwest Rapid Rewards® Priority Credit Card (Review) | $149 |
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| Southwest Rapid Rewards® Premier Business Credit Card | $99 |
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| Southwest Rapid Rewards® Performance Business Credit Card | $199 |
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Southwest Rapid Rewards® Premier Credit Card
Details
securely on the issuer's website
Our Rating: 4 Out of 5 Stars
The Southwest Premier card gets 4 out of 5 stars. It’s a potentially valuable card, but only for the Southwest Airlines enthusiast. And its benefits don’t quite measure up to some of the better airline cards at the same fee tier.
Why We Like It
- 2X reward rate on Southwest flights, plus with Rapid Rewards Hotel and Car Rental Partners, simplifies the travel planning process
- 40,000 bonus points for spending $1,000 in the first 3 months delivers an excellent return on spend
- 6,000-point anniversary bonus rewards you just for being a cardholder
- First and second checked bags are free
- Contactless card enables quick, tap-and-go payments (where available)
Why It Could Be Better
- $99 annual fee
- No chip-and-PIN technology, which may disappoint frequent international flyers
- Standard benefits
- Southwest Rapid Rewards® Priority Credit Card (Review) offers a more competitive offer, with perks to offset its larger annual fee
Insider Advice: Getting the Most Out of Your Card
- Book travel with your card: Earn at the 2X reward rate by booking flights with Southwest Airlines, and complete your travel plans with Rapid Rewards Hotel and Car Rental Partners.
- Get the signup bonus: Spend $1,000 in your first 3 months as a cardholder to earn 40,000 points for a stellar 60–80% return on spend if you assume 1.5–2 cents per point.
- Enjoy the anniversary bonus: Get 6,000 bonus points after every cardmember anniversary, which makes up for a considerable chunk of the card’s $99 annual fee.
- Offset the annual fee: Ignoring the intro and anniversary bonuses, you’ll have to spend around $3,300 at the 2X reward rate to offset the card’s $99 annual fee if you value a Rapid Rewards point at 1.5 cents. The good news? After the first year, thanks to the 6,000-point anniversary bonus, the amount you’ll have to spend drops to $300. We recommend you spend more to actually come out on top, of course.
- Redeem with Southwest: Redeem your Rapid Rewards points for Southwest flights to maximize the value of your rewards.
- Bring your card abroad: Travel with your card to avoid foreign transaction fees while savoring the peace of mind provided by its various included travel protections.
- Use it with other rewards cards: The Rapid Rewards Premier features a specific reward structure, so you should use it alongside another, more general rewards credit card that’s better for everyday spending.
The Rewards
Lower-end airline credit cards tend to have fairly limited bonus categories, and the Rapid Rewards Premier card does nothing to buck this trend. Even so, its 2X reward rate is a nice addition to the points you normally earn through the Rapid Rewards program.
Rapid Rewards points are currently quite valuable, typically worth 1.5–2 cents per point, so when you combine the points earned by the credit card and the Rapid Rewards program, you’ll earn an exceptional cash back equivalent of 12–28% on airfare, depending on the fare type purchased.
Earning
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| Introductory Bonus Offer |
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There’s nothing too complicated going on here. You spend with Southwest and Rapid Rewards partners, and you get 2X Rapid Rewards points per purchase. That’s on top of the points you can already earn by flying Southwest.
So, for example, if you purchase a round-trip ticket at the Anytime fare tier, where you’d normally earn 10 points per dollar through the Rapid Rewards program, you’ll get 12 points per dollar by paying for the ticket with your card.
Like we said earlier, Rapid Rewards points typically deliver a pretty good value, lending this otherwise average reward structure a bit more appeal. But that’s subject to change, and the value you’ll actually get out of your points depends on how you redeem them.
The introductory bonus is a touch more impressive. The low spending threshold, coupled with the generally high value of the points you’re earning, makes it a solid deal all around.
Because you only earn with Southwest and its partners, you might want to use this card with another rewards card to ensure you’re getting cash back or points on more common everyday purchases, like groceries and gas.
Redeeming
You can redeem the points you earn with the Rapid Rewards Premier card for Southwest flights, which is virtually always going to give you the best value.
You can also use Southwest’s Redeem for More Rewards portal to swap points for:
- Gift cards from 70+ retailers
- International flights, car rentals, and hotel stays
- Merchandise, including electronics, jewelry, and more
- Experiential rewards, like cruises and spa packages
But you should stick with flights if you’re aiming to make the most of your card.
We mentioned how Rapid Rewards points are generally valued between 1.5–2 cents, and quick research seems to back this up. A nonstop Southwest flight from EWR (Newark) to MDW (Chicago) would cost $104 in cash or 6,507 points, for a value of roughly 1.6 cents per point.
Just like cash prices, redemption prices will vary based on a host of factors, including distance, date, demand, and fare type.
Rapid Rewards points never expire, and you’ll never have to worry about blackout dates when you’re looking to plan your next getaway.
The Benefits
The Southwest Rapid Rewards Premier card provides a middling set of benefits anchored by a surprisingly valuable anniversary bonus. Otherwise, there’s nothing particularly valuable, aside from the convenient travel protections that come standard with most travel credit cards at this fee tier.
The full set of benefits you end up receiving depends on your credit limit. If you’re approved with a limit of $5,000 or more, you’ll get a Visa Signature card and its associated benefits. Otherwise, you’ll get a Visa Platinum card.
- 6,000-point anniversary bonus: Get 6,000 bonus points every year after your cardholder anniversary.
- Earn tier qualifying points: Earn 1,500 tier qualifying points (TQPs) for every $10,000 in purchases, up to 15,000 TQPs per calendar year, to help you reach the 35,000 TQPs required to earn A-List status, the 70,000 required for A-List Preferred status, and the 100,000 required for the Southwest Companion Pass.
- Travel insurance: Essential travel protections help you explore with confidence. Baggage delay, for example, offers reimbursement for essential items if your bag gets delayed or misdirected for more than six hours, while lost luggage reimbursement offers up to $3,000 per passenger if checked or carry-on bags are lost or damaged. You also get an auto rental collision damage waiver and travel accident insurance.
- Other shopping and travel protections: Aside from its travel insurance perks, the Rapid Rewards Premier delivers a handful of additional benefits, including purchase protection, extended warranty protection, $0 fraud liability, and roadside dispatch. At the Visa Signature level, you’ll also get travel and emergency assistance.
You’ll seldom receive luxury benefits at the Premier’s price, so there’s nothing wrong with the card’s limited selection of benefits. But you may want to consider competing cards that provide stronger perks.
You could just stick with the Southwest Rapid Rewards® Priority Credit Card (Review). It charges a higher annual fee, but that’s essentially offset (after the first year, at least) by an annual travel credit and a higher anniversary bonus. You get slightly better benefits, too, which is why we tend to recommend it over the Premier.
The United℠ Explorer Card (Review) is a strong contender if you’re not afraid to switch airlines. It waives its $95 annual fee for the first year and provides a Global Entry or TSA PreCheck application fee credit, two annual United Club passes, and numerous other perks.
For something slightly less airline-restrictive, consider the Bank of America® Premium Rewards® Credit Card (Review). It’s a general travel card, rather than a co-branded airline card, but it delivers a Global Entry/TSA PreCheck credit, plus a $100 airline incidental statement credit on top of that.
The Terms & Fees
| Purchase APR | Balance Transfer APR | Cash Advance APR |
|---|---|---|
| 17.74% - 24.74% Variable | 17.74% - 24.74% Variable | 26.74% Variable |
| Annual Fee | Foreign Transaction Fee |
|---|---|
| $99 | $0 |
| Balance Transfer Fee | Cash Advance Fee |
|---|---|
| Either $5 or 5% of the amount of each transfer, whichever is greater. | Either $10 or 5% of the amount of each transaction, whichever is greater. |
| Penalty APR | Late Fee | Returned Payment Fee |
|---|---|---|
| None | None | Up to $39 |
The Rapid Rewards Premier card’s terms and fees are standard across the board.
The highlight here is that there are no foreign transaction fees, which is a given for most travel credit cards. That means you can take the card along on every adventure without worrying about the additional fees you’re racking up every time you swipe.
The card does charge a $99 annual fee, which may seem a bit high for the rewards and benefits you’re getting. But after the first year, the 6,000-point anniversary bonus nearly offsets the entire annual fee in one shot.
Even if we assume each point is worth 1.5 cents, which is on the lower end for Southwest, that’s $90 in value every year. So you’d have to spend a measly $300 at the 2X reward rate to cover that remaining $9.
Considering how much the typical flight costs, that should be a breeze.
The Bottom Line
All in all, the Southwest Rapid Rewards® Premier Credit Card is a good travel credit card if you use it enough to get your money’s worth.
The card’s strong signup offer and annual anniversary bonus make it pretty easy to do just that. And it certainly doesn’t hurt that Rapid Rewards points seem to maintain a pretty high value.
If you get this card, be sure to take advantage of the Visa Signature or Visa Platinum benefits. If your luggage is damaged or stolen, for example, you can rest assured that you’re covered up to a fairly high limit. That’s a huge benefit for simply using a credit card to book your travel, and it’s only one of many perks.
Just remember that this card is probably not the right pick for everyday purchases, so it’s best used with another credit card that suits your lifestyle.
How to Apply for the Southwest Rapid Rewards Premier Card
If you think the Rapid Rewards Premier card is the right fit for your spending and travel habits, find out how to add it to your arsenal by clicking the “How to Apply” button below.
After you fill out and submit the application, you may be approved or denied immediately. But if you’re not, Chase may request more information.
Qualifications and Requirements
- Must be 18 (19 in Alabama, 21 in Puerto Rico)
- Personal identifying information, including birth date, Social Security number, email address, and phone number
- Total income and source of income
- Rapid Rewards account number
Southwest Rapid Rewards® Premier Credit Card
Details
securely on the issuer's website
Alternatives to the Southwest Rapid Rewards Premier Card
If you aren’t committed to flying Southwest every time you set foot on a plane, there are plenty of other, more flexible, credit card options that can help simplify your travel experience. We’ll cover a few top-tier general travel credit cards, though other co-branded airline cards are also available aplenty.
Uber Visa Card
Details
securely on the issuer's website
With no annual fee, the Uber Visa Card (Review) is a fantastic general-use credit card if you’re an avid traveler with a mean appetite. The card boasts a rewards structure that’s both valuable and diverse, a signup bonus with a decent return on spend, and a handful of helpful benefits.
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Key Features
- $50 annual streaming service credit: Spend $5,000 each year to get a $50 statement credit good for select eligible streaming services, including popular picks like Amazon Prime, HBO NOW, Netflix, and Spotify
- No foreign transaction fees
- Annual fee: $0
Read more in our Review of the Uber Visa Card.
Southwest Rapid Rewards® Priority Credit Card
Details
securely on the issuer's website
Climb one step higher on the Southwest credit card ladder, and you’ll find the Southwest Rapid Rewards® Priority Credit Card (Review). It’s the airline’s priciest non-business card, with an annual fee of $149, so it naturally provides a bit more value than the Rapid Rewards Premier.
The best part? You get a 7,500-point anniversary bonus, plus a $75 Southwest statement credit, basically offsetting that fee in full after your first year as a cardholder.
In fact, that makes the Rapid Rewards Priority our recommended Southwest card.
| Spending Rewards |
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Key Features
- 7,500 anniversary points: Receive 7,500 bonus points after each cardholder anniversary
- Travel perks: $75 annual Southwest travel credit, reimbursement for four Upgraded Boarding purchases annually, 20% back on in-flight purchases
- Travel insurance: Auto rental collision damage waiver, baggage delay insurance, lost luggage reimbursement, trip accident insurance
- No foreign transaction fees
- Annual fee: $149
Read more in our Review of the Southwest Rapid Rewards® Priority Credit Card.
The Chase Sapphire Preferred® Card (Review) is a very popular travel rewards credit card, and not just for its sharp looks. The Sapphire Preferred earns points on travel purchases, and the ability to redeem points through both Chase Ultimate Rewards and via point transfer gives the card a lot of flexibility.
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Key Features
- Travel perks: 25% point bonus when redeeming through Chase Ultimate Rewards for travel, point transfer to popular airline and hotel loyalty programs
- Travel insurance: Trip cancellation/trip interruption insurance, trip delay reimbursement, lost luggage reimbursement, auto rental collision damage waiver, travel accident insurance, baggage delay insurance
- No foreign transaction fees
- Annual fee: $95
Read more in our Review of the Chase Sapphire Preferred Card.
securely on the issuer's website
American Express is a Credit Card Insider advertiser.
It’s nearly impossible to discuss the greatest travel credit cards without mentioning The Platinum Card® from American Express (Review). In addition to its high-earning rewards program, this luxury card comes with premium benefits aplenty, including the most comprehensive airport lounge access you can get through plastic alone.
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Key Features
- Travel perks: $200 annual airline fee credit, complimentary access to the American Express Global Lounge Collection, fee credit for Global Entry or TSA PreCheck, Fine Hotels & Resorts Collection, elite hotel statuses, $200 annual Uber credit, Platinum Card Concierge
- Travel insurance: Baggage insurance, travel accident insurance, car rental loss and damage insurance
- No foreign transaction fees (Rates & Fees)
- Annual fee: $550
Read more in our Review of The Platinum Card® from American Express: Is It Worth the $550 Annual Fee?
Southwest Rapid Rewards® Premier Credit Card
Details
securely on the issuer's website
What’s your experience been with the Southwest Airlines Rapid Rewards Premier Card? Leave your own review of this card for other readers — we’d love to hear from you.
The Southwest Rapid Rewards Premier is a great credit card if you fly Southwest enough to offset the $99 annual fee. The card’s signup and anniversary bonuses make it relatively easy to do so.
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