This card is a convenient option for Southwest Airlines hub city residents. The Southwest Rapid Rewards Premier Credit Card can help you quickly earn rewards on Southwest flights that are either free or discounted. The $99 annual fee is slightly more than that of its brother, the Southwest Rapid Rewards® Plus Credit Card. Over time, you will be well on your way to achieving elite status in the Southwest Rapid Rewards loyalty program.

Features Of Southwest Rapid Rewards Premier Credit Card

• Get 30,000 points after spending $4,000 on purchases within 3 months of opening your account, plus earn Companion Pass® valid through 2/28/24.
• Each year, you will earn 6,000 anniversary points.
• You can earn 3X points when you buy Southwest® products.
• You can earn 2X points when using local transit or commuting, which includes ride-sharing.
• Streaming services and selecting internet, cable, and phone services earn you 2X points.
• Each year, there will be two EarlyBird Check-Ins®.
• Companion Pass® points can be earned in any amount.
• No foreign transaction fees.

Southwest Rapid Rewards Premier Credit Card In A Nutshell

As with the majority of airline credit cards, the Southwest Rapid Reward Premier card offers primarily airline-specific benefits. For an annual charge of $99, the Premier gives two EarlyBird check-ins, no foreign transaction fees, and 6,000 bonus points per card anniversary. In addition, it allows you to earn Tier Qualifying Points depending on expenditure if you wish to achieve A-List status. Lastly, points earned on the card can be applied toward the carrier’s prized Companion Pass.

The Premier card is an excellent alternative for frequent passengers on Southwest. As the middle-tier card, the Premier card has a reduced annual charge but fewer advantages, making it ideal for casual Southwest fliers. If you have other primary airline and travel cards, the Premier card can be a useful addition or supplement, but only if you fly Southwest frequently.

Value Of Rapid Rewards Points

While point values might fluctuate, Southwest Rapid Rewards points typically have a value of 1.6 cents apiece when used to purchase airfare.

Although this is less than certain other programs, Southwest’s fare-based rewards program makes it simple to accumulate miles. If the cash price of a flight you wish to book decreases, so will the award price. With other airline loyalty schemes, this is not always the case.

Multiplying the point value by the average earning rate (the rate at which the average cardholder can gain Rapid Rewards points with the card throughout all spending categories), it is determined that the Rapid Rewards Premier card can yield around 1.74 cents per dollar spent on average.

Frequently Asked Questions

Below are the frequently asked questions about Southwest Rapid Rewards Premier Credit Card:

What is the annual fee for Southwest Rapid Rewards Premier Card?

The annual fee is around $99. You may also earn a Companion Pass® valid through 2/28/24 and 30,000 bonus points after spending $4,000 on purchases during the first three months of account opening. Three points are awarded for every dollar spent on Southwest purchases.

How hard is it to get approved for a Southwest Rapid Rewards card?

With a minimum credit score of 670, you get the best acceptance prospects for Southwest credit cards. This number represents the beginning of “good credit,” the second-best category of credit scores. The highest grade, good credit, often begins at a credit score of 740.

Should I have 3 credit cards?

In addition to other forms of credit, it is generally advisable to have two to three credit card accounts if your objective is to obtain or maintain a decent credit score. This combo could boost your credit mix. Creditors and lenders prefer to see a variety of credit kinds on a consumer’s credit report.

Do too many credit cards hurt your credit score?

Excessive outstanding credit lines, even if unused, can lower credit ratings by making you appear riskier to lenders. In some instances, obtaining new credit cards might improve your credit score if the extra credit lines reduce your overall utilization ratio.

If you have a credit card balance, should you pay it off or leave it?

Whenever possible, you should pay off your credit card debt in full. Maintaining a monthly credit card balance can incur interest and raise your credit usage rate, which is one of the factors used to determine credit scores.

The Takeaway

For those who prefer to fly Southwest, the Southwest Rapid Rewards Premier card is an excellent investment. The card’s sign-up bonus and recurring incentives are advantageous for anyone seeking free or discounted travel with Southwest Airlines. However, your redemption possibilities are limited. When moved to Southwest hotel and rental car partners, points lose value, and redemption possibilities for airfare are limited to Southwest flights exclusively. Flexibility-seeking travelers should search elsewhere.