Getting to Know the Southwest Rapid Rewards® Premier Credit Card
With the Southwest Rapid Rewards® Premier Card from Chase, you’ll be in for a smooth flight no matter your destination. This is a co-branded airline rewards card tailored to the frequent traveler who wants to maximize their earning with Southwest Airlines, and it is one tier above their Plus option. The Southwest Rapid Rewards® Premier Card allows you to step up your travel game while earning big rewards as you fly towards travel savings, and ups the ante with several perks not available with the basic Southwest offering from Chase.
How It Works
Cardholders can expect the following from the Southwest Rapid Rewards® Premier Credit Card:
How to Earn Rewards:
Generous Introductory Offer: Cardholders will earn a hefty bonus of 40,000 points when a minimum of $1,000 is spent on qualifying purchases in the first three months their account is open. This offer is not available if you are a current cardholder of any Southwest Rapid Rewards® Card, or if you’ve received a new cardmember bonus within the last 24 months.
Fly with Southwest: The fastest way to earn miles with the Southwest Rapid Rewards® Premier Card is by flying Southwest. Cardholders will earn 2 points for every $1 spent on purchases directly with the airline.
Make Everyday Purchases: You’ll earn 1 point per $1 spent on any and all purchases made with your Southwest Rapid Rewards® Premier Card. Rapid Rewards® points can be earned on almost anything – everyday purchases like gas and groceries, dinner and drinks, even movie tickets will generate points – and you can even earn when you use your card to pay monthly expenses like your phone bill.
Anniversary Bonus: Cardholders automatically receive 6,000 bonus points each year on their cardmember anniversary. That’s double the anniversary bonus for the Southwest Rapid Rewards® Premier Card!
Tier Qualifying Points: Cardholders can earn tier qualifying points (TQPs), which can be used towards qualification for Rapid Rewards A-List or A-List Preferred status. You’ll earn 1,500 TQPs for each $10,000 in purchases annually, up to $100,000 total each year.
Rewards do not expire: Rewards never expire. This is a great perk.
How to Redeem Miles:
When you begin to cash in on the rewards you’ve earned with your Southwest Rapid Rewards® Premier Card, you’ll notice that you can turn your Rapid Rewards points into just about anything; flexible rewards redemption is a big draw with this program.
Travel: Once you’ve earned rewards towards that dream trip you’ve been planning, you’re ready to redeem them. Points earned with the Southwest Rapid Rewards® Premier Card can be redeemed to book or upgrade travel on Southwest. Rewards can be used to save on flights, towards seat upgrades, and more (including Companion Passes!). Log into your Rapid Rewards account on the Southwest® homepage, select a flight, and pay with points; the sky is the limit!
Hotels: With the Southwest Rapid Rewards® program, cardholders are eligible to book hotel stays with points earned from their Southwest Rapid Rewards® Premier Card at over 70,000 hotels across the globe.
Car Rentals: Renting a car often makes travel easier, as you’re able to move at your own pace, make pitstops at your leisure, and take your time enjoying your destination. Points earned with the Southwest Rapid Rewards® Premier Card can be used towards hiring a car rental from several different rental companies.
Retail: Points can be redeemed with hundreds of retail partners, for products, services, and even gift cards. Shop retail options, from golf balls and electronics to home goods; or, find the right gift card from brands like Amazon, iTunes, Lowes and more to treat yourself or a friend – simply use your points to purchase!
Buy, Gift or Transfer: Cardholders can use their Rapid Rewards® points for a variety of purchases; they also have the option to gift points, or transfer their points to whoever they’d like, even if they are not a cardholder. All the recipient must do is enroll in the Rapid Rewards program, if they have not already. Points can even be donated to pre-selected charities; Southwest has chosen several charities that can accept points as a donation.
Today’s Bonus Offer
The Southwest Rapid Rewards® Premier Card comes with a hefty introductory bonus offer: Cardholders who spend $1,000 within the first three months of opening their account will qualify for a special one-time bonus of 40,000 points. Not bad! Note that this offer is only available to you if you do not already have this card and have not received a new card member bonus for this card in the past 24 months.
Airline and Airport Perks:
Bags Fly Free: For Southwest Rapid Rewards® Premier Card cardholders, first and second checked bags are free when flying with Southwest.
Companion Pass: Southwest Rapid Rewards® Premier Card cardholders can earn a Companion Pass, which will allow a friend to fly with you free of airline charges for one year.
No Change Fees
No Foreign Transaction Fees: For cardholders who plan to spend while they’re abroad, the Southwest Rapid Rewards® Premier Credit Card does not charge foreign transaction fees, which means that not only will you save money while travelling, you’ll also earn points when you use your card in other countries.
Cardholder Protections:
Zero Liability: Pay $0 for any fraudulent transactions. Cardholders must notify Chase immediately of any concerning activity.
Auto Rental Collision Damage Waiver
Roadside Dispatch®: Visa cardholders will benefit from Roadside Dispatch®, which is a pay-per-use roadside program.
Additional Benefits:
Year-end Summary: Access to a Year-End Summary of all the charges. This makes it easy to see where you spend the most. it also helps plan for next year’s annual spending.
Extended Warranties: Visa cardholders who use their Visa Signature® card for their purchases are eligible to add up to two extra years added to the original manufacturer’s warranty, when you use your card for eligible purchases. Some restrictions apply.
The Plane Facts
Can you expect a smooth flight from the Southwest Rapid Rewards® Premier Card, or will there be turbulence?
Annual Fee: The Southwest Rapid Rewards® Premier Card features an annual fee of $99, which is not terribly high when compared to other similar airline rewards credit cards; however, it’s certainly more than a card that has no annual fee, and there is a no-frills offer from Southwest that asks for a more modest annual fee (Check out the Plus Card). While the cost isn’t a deal-breaker, a comparable card with equal rewards and a lower annual fee can likely be found elsewhere.
Breaking Down the Fees:
Balance Transfer: $5, or 5% of the amount of the balance transfer, whichever is greater.
Cash Advance: $10, or 5% of the amount of the cash advance, whichever is greater.
Foreign Transactions: Not an issue. There are no foreign transaction fees with the Southwest Rapid Rewards® Premier Credit Card.
Late Payment: Up to $39
Returned Payment: Up to $39 based on how many returned payments you’ve had, your creditworthiness, and other factors.
Over Limit: There is no over limit fee with the Southwest Rapid Rewards® Premier Card.
The Perks That Make the Southwest Rapid Rewards® Premier Credit Card Worthwhile:
What are some of the pros that set this card ahead of the rest?
A generous introductory bonus offer: Earn 40,000 bonus points after spending $1,000 in the first 3 months. That’s not a bad reward for just using the card. Plus, it’s great if you need to make a relatively large purchase right away.
No Blackout Dates: Cardholders enjoy no blackout dates or seat restrictions.
Point Redemption Options: The sky is the limit with redemptions. Whether you opt to redeem points towards free travel or merchandise, you’ll have plenty of options.
A-List: Cardholders have the opportunity to qualify for Southwest’s A-List elite status. This program opens the door to some great benefits at the airport and on the plane.
A Great Intro Bonus: 6,000 Rapid Rewards points on each cardmember anniversary.
Potential Turbulence with the Southwest Rapid Rewards® Premier Credit Card:
What are some cons that take the wind from under this card’s wings?
Annual Fee: The annual fee of $99 is not as high as some other offers on the market. It is. however, sky-high when you consider that there are options out there with no annual fee at all. However, many cards that have no annual fee cannot compare when it comes to the rewards options here. So weigh this carefully when deciding what card(s) to apply for. It’s also worth noting that the fee for this card isn’t as high as those for Chase’s Southwest. Although it is higher than the fee for the Plus card. Still, there are comparable options on the market that don’t feature an annual fee.
Points Only Apply to Flights: Points don’t apply for amenities like checked bags, security fees, or in-flight drinks. These perks are available from other rewards programs. So, if your flexibility when it comes to redeeming points with an airline, different options may be better.
You’ll Get What You Pay for: While the $99 isn’t huge, it’s still more than Southwest’s basic offer from Chase. At the end of the day, you’ll need to decide what benefits are most attractive to you, and compare them to the price you’re willing to pay to receive them.
Thoughts Before Takeoff
This is your Captain speaking. Although the Southwest Rapid Rewards® Premier Card has an annual fee of $99, it warrants that fee. For anyone willing to invest a nominal fee towards earning travel rewards each year, you certainly won’t want to miss your flight – apply soon to take advantage of the 40,000 point bonus offer, and start earning rewards with Southwest today.