Southwest Rapid Rewards® Credit Cards Launch New Offers

This content is not provided by the bank advertiser. Opinions expressed here are the author's alone and have not been reviewed, approved or otherwise endorsed by the issuer. We may receive compensation for many links from our advertising partners such as American Express, Chase and Barclaycard as well as advertising partners of this site. Please see here for details.

Chase has released new signup offers for both the Southwest Rapid Rewards® Plus Credit Card and the Southwest Rapid Rewards® Premier Credit Card. Both cards are currently offering 40,000 bonus points after you spend $1,000 on purchases in the first 3 months that your account is open.

These are great signup offers, especially given the value and flexibility of Southwest Rapid Rewards® points. We value Rapid Rewards® points at 1.3 cents per point, making each signup bonus alone worth up to $520 in Southwest flights.

40,000 Southwest Rapid Rewards points are worth up to $520 in Southwest Airline flights, making it even easier to get to your next vacation destination. Photo Credit: Southwest.com

When comparing both cards, they both offer similar benefits, but first, let’s take a look at the differences to see which card might work best for you.

The Southwest Rapid Rewards® Plus Credit Card comes with a $69 annual fee that will be charged on your first statement and awards cardmembers with a 3,000 point annual bonus that is credited to your rewards account on your credit card account anniversary date.

This particular card does charge for foreign transaction fees, which is 3% of each transaction in U.S. dollars, so it would be best to use this card for domestic purchases only.

The Southwest Rapid Rewards® Premier Credit Card comes with a slightly higher annual fee of $99 that will be charged on the first statement of account opening, but also offers a slightly higher annual bonus of 6,000 points on your credit card account anniversary date.

Another major difference is that this card does not charge foreign transaction fees, which makes this the perfect card for you to bring with you on your international trips, especially since Southwest Airlines has been branching out into new international markets.

Southwest Airlines International Destinations
Southwest is now serving International Destinations in Mexico, Central America, and the Caribbean. Photo Credit: Southwest.com

Bottom Line: The Southwest Rapid Rewards® Plus Credit Card has a $69 annual fee, 3,000 point anniversary bonus, but charges foreign transaction fees. The Southwest Rapid Rewards® Premier Credit Card has a $99 annual fee, 6,000 point anniversary bonus and no foreign transaction fees. 

Southwest Rapid Rewards® are great points to have since there are no blackout dates or seat restrictions, and your points never expire as long as your credit card account is open.

One of the greatest perks Southwest Airlines is known for is that your first 2 checked bags fly free with you, saving you up to $120 per roundtrip flight.

Another reason to rack up Southwest Rapid Rewards® points is that all reservations made with either points or cash have absolutely no cancellation or change fees, making them incredibly flexible and valuable for speculative bookings.

Let’s say you’ve been thinking about making a trip home for the upcoming holiday season and see a great price for the flight, but don’t want to commit to booking it until you are certain you can make the trip.

With Southwest, you could book your ticket with points and cancel later to get a full refund of your points used to make that booking. This helps you lock in a great price by booking early but gives you the option to cancel up until your flight departs without having to lose out on that great price.

Hot Tip: Found the right price and booked your next Southwest Airlines flight? Be sure to check back and if the fare price went down you can rebook for the cheaper price and get a refund for those extra points.

Both cards offer 2 points per $1 spent on Southwest® and Rapid Rewards® purchases, which include participating Hotel and Car Rental partners booked on Southwest.com. You will also earn 1 point per $1 spent on all other purchases.

Another great perk about earning a ton of Southwest Rapid Rewards® points is that each point you earn from these credit cards also counts toward qualifying for the Southwest Companion Pass.

To qualify for the Southwest Companion Pass, you must earn 110,000 qualifying points within a calendar year. Qualifying points include points from flying Southwest, Rapid Rewards credit card points (including the signup bonus), the Southwest Dining Program, shopping portal, and partner offers.

southwest companion pass
Use your Southwest Credit Card to help you qualify for the Companion Pass and make sure your companion travels with you on Southwest flights for free. Photo Credit: Shutterstock.com

Once you’ve qualified for the Companion Pass you can designate a chosen companion that will be able to fly free with you on Southwest flights as your companion for the rest of the year that you qualified and the entire next year for both paid and award reservations.

All you have to do is pay the extra taxes and fees for your companion, making this one of the best deals available across all frequent flyer programs.

It is important to remember that all Southwest credit cards from Chase fall under the 5/24 rule, where if you’ve applied for 5 or more personal credit cards in the past 24 months, it is highly unlikely you will be approved for these cards.

You are also not eligible for the bonus offer on these cards if you’ve received a bonus for the same product in the past 24 months.

Hot Tip: Both the Southwest Rapid Rewards® Plus Credit Card and the Southwest Rapid Rewards® Premier Credit Card are considered different products, so if you’ve received a bonus on one you are still eligible for the bonus on the other.

Overall, both the Southwest Rapid Rewards® Plus Credit Card and the Southwest Rapid Rewards® Premier Credit Card from Chase are offering great signup bonuses for a low minimum spend requirement, making it easy to earn a ton of Southwest Rapid Rewards® points and giving you a huge boost to qualify for the Southwest Companion Pass.

The main differences between the cards are obviously the annual fee (a difference of $30) and the increased benefits from the anniversary bonus and foreign transaction fees. Either way, if you are comfortable flying Southwest Airlines, at least one of these cards should perk your interest so you can fly with them for free, just like your bags.

Southwest Rapid Rewards® Premier Credit Card

  • Earn 40,000 points after you spend $1,000 on purchases in the first 3 months your account is open
  • Earn unlimited points that don't expire as long as your account is open
  • No blackout dates or seat restrictions
  • Bags fly free® and no change fees
  • 6,000 bonus points after your Cardmember anniversary every year
  • 2 points/$1 spent on Southwest® purchases and participating Rapid Rewards® Hotel and Car Rental partners purchases
  • 1 point/$1 spent on all other purchases
  • No foreign transaction fees
Apply Now Full review