Sign-Up Bonus, Earning Categories and Points
The Southwest Premier card currently offers a sign-up bonus as posted in the card summary table above. This card costs $99 per year.
You’ll earn a straightforward 3x points per dollar spent on Southwest purchases, 2x on local transit and communicating, and 2x on internet, cable, phone services, and select streaming! Plus, 1 point per $1 spent on all other purchases.
These are very typical earning rates for an airline card, but it’s the benefits that make this card stand out!
Southwest Premier Card Benefits
Being a low-cost carrier, Southwest doesn’t offer a ton of extra benefits, but this card allows you to reach those elite status benefits much more quickly.
First, for every $10,000 you spend on the card you will earn 1,500 Tier-Qualifying Points (TQP), which are what you need to achieve elite status. The first tier, A-List, is achieved with 35,000 TQP or 25 one-way flights.
Your second level is reached after 70,000 TQP or 50 one-way flights. You can earn a maximum of 15,000 TQP with the card, but if you are also flying frequently you should earn the status quickly.
Even better, every point earned with any Southwest credit card counts toward the Qualifying Points needed to earn a Companion Pass. And yes, this includes the sign-up bonus!
While not an elite status tier, the Companion Pass allows you to earn the benefit of bringing a companion on any flight with you for just the cost of taxes and fees.
You do not have to have elite status to earn this, and thus you could earn the Companion Pass from simply spending on your card.
This is unique, as most airline credit cards simply earn bonus miles and points that do not go toward any type of elite status. More on this in the Card Math section below.
Cardmembers can enroll in complimentary Spot Club Platinum status at The Parking Spot for 2 years and will receive 20% off of their first reservation and points for 1 free day of parking. At Groupon, cardmembers can also enroll to receive 10% back on Groupon deals every month for 12 months (up to $50), rewarded as Groupon Bucks.
Bottom Line: Reach A-List more quickly by earning 1,500 TQP for every $10,000 spent on the Chase Southwest Rapid Rewards Premier Credit Card. Also, earn Companion Pass Qualifying Points for every purchase you make on the card (separate from TQP).
Other Bonus Points Earned with the Card
You do earn some bonus points with the card on top of purchases. Every year on your cardmember anniversary, you will earn 6,000 bonus points to be used toward award flights.
Up to 15,000 bonus points (1 point per dollar) are available for balance transfers made in the first 90 days of opening the card. However, balance transfers have a 5% fee, which will effectively reduce (if not eliminate!) the value of these points.
International Travel and More
The first benefit you should know about is that this card carries no foreign transaction fees. It’s a great card feature that not all cards come with!
You may be wondering why international travel is being discussed since Southwest is a U.S. low-cost carrier.
Southwest has introduced a More Rewards option for its credit card members that allows them to redeem Southwest points for many other things, including international travel.
However, while international travel usually offers the highest-value points options, the opportunities for using Southwest points are nowhere near as valuable.
Bottom Line: There are no foreign transaction fees on the Southwest Premier card, so you can earn points while traveling overseas if you use the More Rewards for international travel awards.
Cardmember Fringe Benefits
The rest of the fringe benefits depend on whether or not you are approved for a Visa Signature or Visa Platinum version of the card, which will be determined upon application and approval.
If you’re approved for Visa Signature, the benefits are a little more lucrative. They include a variety of insurances and services to help make your travels and life a little easier.
These are auto rental, lost/delayed luggage, and travel accident insurance. You also get roadside dispatch and emergency travel services.
Visa Platinum cardmembers do not get travel and emergency assistance services, but both cardmember types get purchase and warranty protection.
Bottom Line: The Southwest Premier card has a variety of travel insurances to make all your travels easier.