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- Southwest Rapid Rewards Premier Credit Card
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- Bonus Value
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The Southwest Rapid Rewards Premier Credit Card is offering 40,000 bonus points when you spend $1,000 in the first 3 months of account opening. We value these points at around $600, which is a good bonus considering other cards with similar annual fees.
Southwest Rapid Rewards Premier does what it takes to get you to stay loyal. With it, you can take advantage of its ongoing benefits, including a nice anniversary bonus.
But if you want the best deal for your money, the Southwest Rapid Rewards Priority Credit Card may be the best of the Southwest card options. Here’s a quick comparison of the available Southwest Airlines cards:
| Card Name | Bonus | Main Perks | Annual Fee |
| Southwest Rapid Rewards Plus Credit Card | 40,000 bonus points after spending $1,000 in first 3 months. 3,000 anniversary bonus points. | 2 points for every $1 on Southwest Airlines purchases and at participating Rapid Rewards Hotel and Rental Car partners. Free 1st & 2nd checked bags. No change fee. *Has foreign transaction fees. | $69 |
| Southwest Rapid Rewards Premier Credit Card | 40,000 bonus points after spending $1,000 in first 3 months. 6,000 anniversary bonus points. | 2 points for every $1 on Southwest Airlines purchases and at participating Rapid Rewards Hotel and Rental Car partners. Free 1st & 2nd checked bags. No change fee. No foreign transaction fees. | $99 |
| Southwest Rapid Rewards Priority Credit Card | 40,000 bonus point after spending $1,000 in first 3 months. 7,500 anniversary bonus points. | 2 points for every $1 on Southwest Airlines purchases and at participating Rapid Rewards Hotel and Rental Car partners. Free 1st & 2nd checked bags. No change fee. No foreign transaction fees. $75 Southwest annual travel credit. Four Upgraded Boardings per year when available ($30-$50 value each). | $149 |
| Southwest Rapid Rewards Premier Business Credit Card | 60,000 bonus points after spending $3,000 in first 3 months. 6,000 anniversary bonus points. | 2 points for every $1 on Southwest Airlines purchases and at participating Rapid Rewards Hotel and Rental Car partners. Free 1st & 2nd checked bags. No change fee. No foreign transaction fees. | $99 |
| New! Southwest Rapid Rewards Performance Business Credit Card | 80,000 bonus points after spending $5,000 in first 3 months. 9,000 anniversary bonus points. | 3 points for every $1 on Southwest Airlines. 2 points for every $1 on social media and search engine advertising, internet, cable and phone services. Four Upgraded Boardings per year when available ($30-$50 value each). Global Entry or TSA Pre✓ Fee credit. Free 1st & 2nd checked bags. No change fee. No foreign transaction fees. | $199 |
*Southwest Rapid Rewards Premier is issued by Chase Bank. Chase also offers great sign-up bonuses for their Checking/Savings accounts.
Southwest Rapid Rewards Premier Credit Card Quick Facts
SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
| Bonus available | Earn 40,000 bonus points after you make at least $1,000 in purchases within the first 3 months of account opening. |
| *Bonus value | $600 |
| Travel credit | No travel credit. |
| Ongoing rewards/benefits | 2 points for every $1 spent on Southwest Airlines and Rapid Rewards hotel and car rental partner purchases. 1 point for every $1 spent on all other purchases. Receive 6,000 bonus points after every cardmember anniversary. Free 1st and 2nd checked bags and no change fees. |
| Foreign transaction fees? | No |
| Airport lounge access | N/A |
| Annual Fee | $99 |
*Bonus value is an estimated value calculated by MoneysMyLife and not the card issuer. Read our card review for more details.
View our latest valuations here.
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PROS
- Welcome bonus
- Anniversary bonus
- Free 1st & 2nd checked bags
- No change fees
CONS
- Has an annual fee
- Excellent credit needed to qualify
- No luxury perks
- Can’t transfer points
CHASE SAPPHIRE PREFERRED CARD
The Chase Sapphire Preferred Card currently has an offer for 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
Redeeming the 60,000 bonus points through the Chase Ultimate Rewards program, which is praised by users, will get you $750 in value towards travel. The 60K bonus points are worth $750 because you get 25% more value whenever you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards.
Even better, strategize with Chase Ultimate Rewards points transfer partners to potentially get even more value. Each point can be worth up to 2 cents apiece (60k points = ~$1,200). Read more on this here.
Pool the Ultimate Rewards points earned from this card with Chase’s other Ultimate Rewards cards for a great strategy. Other Ultimate Rewards cards include the Chase Freedom, Chase Freedom Unlimited, Chase Sapphire Reserve and the Ink Business cards.
Ongoing rewards with this card include earning 2 points per $1 on Travel and Dining at restaurants. The annual fee is $95 for this card.
The information related to the Chase Sapphire Preferred Card has been collected by MoneysMyLife and has not been reviewed or provided by the issuer of this card.
Southwest Rapid Rewards Premier 40,000 Bonus Points
Take advantage of the 40,000 Rapid Rewards bonus points offer. This bonus is worth about $600 per our valuations (more on this below). It’s a pretty good bonus for this tier of annual fee.
*Compare all top card bonuses here.
To get the bonus, charge at least $1,000 to your card within the first 3 months of opening your account.
Here are some ideas on meeting the spending requirement:
What Are Rapid Rewards Points Worth?
Like many other airline-branded credit cards, the value of your points depends on how you use them. On average, I value each Rapid Rewards point at around $0.015. Using this figure, 40k points are worth $600.
You can redeem your points for:
- Flights
- Hotel stays
- Car rentals
- Gift cards
- Access to events
- Merchandise
To maximize the value of your Rapid Rewards points, redeem them for Southwest flights. When I searched for flights with points on popular routes, the value averaged from $0.014 to $0.016 per point.
Keep in mind, point values change constantly and depend on when you fly, destination and more. There are no blackout dates and no seat restrictions.
Using your Rapid Rewards points towards anything other than Southwest flights won’t get you the best value. These typically bring your points worth to below $0.01.
Southwest Rapid Rewards Premier Credit Card Top Features
Travel with Transfarency. A term invented by Southwest, Transfarency is a philosophy that the airline lives by: to treat its customers honestly and fairly. That means $0 for your first and second checked bags (weight and size limits apply) and $0 change fee (fare differences may apply).
Tier qualifying points (TQPs). Earn 1,500 TQPs for every $10,000 you spend in a calendar year, for up to 15,000 points annually. These points count towards A-List and A-List Preferred elite status.
A-List benefits include:
- Priority boarding
- 25% earning bonus on every qualifying flight
- Free same-day standby
- Priority check-in and security lane access
- Dedicated A-List member phone line
A-List Preferred benefits include:
- All standard A-List benefits
- 100% earning bonus on every qualifying flight
- Free inflight WiFi
Every year, on your card anniversary, you’ll receive 6,000 Rapid Rewards bonus points. That’s worth approximately $90, nearly covering the annual fee.
Make purchases abroad without worrying about foreign transaction fees. The Southwest Rapid Rewards Priority card also has this feature. The Southwest Rapid Rewards Plus card does not.
Bottom Line
The Southwest Rapid Rewards Premier Credit Card offers a decent return for its annual cost. But most people will go for the Southwest Rapid Rewards Priority instead. That’s because the higher-tier card has a $75 annual Southwest travel credit and a higher anniversary bonus. These benefits combined more than cover its annual fee.
A Southwest credit card is not a good fit for those who don’t often fly with the airline, or if you’re looking for more flexible rewards.
SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
What’s The Competition?
Below are some of the top competitors to the Southwest Rapid Rewards Premier Credit Card you should consider.
With the Chase Sapphire Preferred Card, you can choose to move your points to a participating airline or hotel partner for greater redemption value. This is a benefit the Southwest Rapid Rewards cards can’t match.
CHASE SAPPHIRE PREFERRED CARD
The Chase Sapphire Preferred Card currently has an offer for 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
Redeeming the 60,000 bonus points through the Chase Ultimate Rewards program, which is praised by users, will get you $750 in value towards travel. The 60K bonus points are worth $750 because you get 25% more value whenever you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards.
Even better, strategize with Chase Ultimate Rewards points transfer partners to potentially get even more value. Each point can be worth up to 2 cents apiece (60k points = ~$1,200). Read more on this here.
Pool the Ultimate Rewards points earned from this card with Chase’s other Ultimate Rewards cards for a great strategy. Other Ultimate Rewards cards include the Chase Freedom, Chase Freedom Unlimited, Chase Sapphire Reserve and the Ink Business cards.
Ongoing rewards with this card include earning 2 points per $1 on Travel and Dining at restaurants. The annual fee is $95 for this card.
The information related to the Chase Sapphire Preferred Card has been collected by MoneysMyLife and has not been reviewed or provided by the issuer of this card.
The Capital One Venture Rewards Credit Card gets a flat 2% rewards rate for all purchases. With this Capital One option, you won’t have to spend precious time finding the best reward for flights. It applies your rewards as a statement credit on travel purchases already made with the card.
CAPITAL ONE VENTURE REWARDS CREDIT CARD
The Capital One Venture Rewards Credit Card currently earns a 50,000 miles bonus when you spend $3,000 on purchases within the first 3 months. These bonus miles are equal to $500 in travel and are easy to redeem as a statement credit towards the cost of your travel purchases. Take advantage of Capital One’s travel partners and these 50k miles can be worth around $700 in value.
This card will earn an ongoing 2 miles for every dollar you spend on all purchases. 100 miles is equal to $1 in travel rewards. If you don’t redeem towards travel purchases, your miles will have less value.
The annual fee is $95, which is waived for the first year.
The information related to the Southwest Rapid Rewards Premier Credit Card has been collected by MoneysMyLife and has not been reviewed or provided by the issuer of this card.
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