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You are here: Home / Credit Cards / Chase Sapphire Preferred® Card vs. Southwest Rapid Rewards® Premier Credit Card

Chase Sapphire Preferred® Card vs. Southwest Rapid Rewards® Premier Credit Card

March 16, 2023 by Gail Kellner

Should you get a brand-loyal airline credit card or a more general travel rewards card? If you're loyal to Southwest, you'll probably consider both the Southwest Rapid Rewards® Premier Credit Card and the Chase Sapphire Preferred® Card. Both have their advantages and we compare them so you can make the best choice for you.

Chase Sapphire Preferred® Card
Chase Sapphire Preferred® Card

Overall Rating

4.9

Welcome Offer

60000 Points (terms apply)

Rewards Range

1x - 5x points

Annual Fee

$95

Regular APR (V)

20.49% - 27.49%

0% Into APR on Purchases

None

0% Intro APR on Transfers

None

Foreign Transaction Fee

None

Read Review
Southwest Rapid Rewards® Premier Credit Card
Southwest Rapid Rewards® Premier Credit Card

Overall Rating

4.5

Welcome Offer

50000 Points (terms apply)

Rewards Range

2x - 3x Points

Annual Fee

$99

Regular APR (V)

20.49% - 27.49%

0% Into APR on Purchases

None

0% Intro APR on Transfers

None

Foreign Transaction Fee

None

Read Review

Welcome Bonus

Chase Sapphire Preferred® Card offers 60,000 bonus points after spending $4,000 in the first 3 months from account opening. Chase estimates these points are worth $750 when you redeem them through Chase Ultimate Rewards®. That's because with this card you can get 25% more value from your points when you use them to purchase travel through Chase.

Southwest Rapid Rewards® Premier Credit Card is offering 50,000 bonus points when you spend $1,000 in the first 3 months from account opening.

Both bonuses are pretty great but you only have to spend $1,000 for the Southwest bonus so it's a much easier one to get.

Cash Back Rewards

Chase Sapphire Preferred® Card gets you 5x points on travel purchased through Chase Ultimate Rewards®, 3x on dining, groceries and streaming, and 2x on all other travel purchases. You also get a $50 annual Ultimate Rewards hotel credit, a DoorDash DoorPass subscription, 5x on Lyft, an Instacart+ subscription, and a $10 GoPuff credit each month. These rewards present a diverse array of benefits.

Southwest Rapid Rewards® Premier Credit Card offers some nice Southwest-specific rewards. You also get 2x on local rideshare, commuting, and transit, and 2x on internet, cable, and select streaming. The Southwest benefits include 6,000 anniversary points a year, two early bird check-ins, and 25% off inflight purchases.

The Chase Sapphire Preferred® Card offers more flexible benefits, and you can transfer your points to Southwest, or any other partner airline. Southwest points are only good for flights on Southwest. Because they're so flexible, we give Chase Sapphire Preferred® Card the win in this category.

Here are the details of each card.

Chase Sapphire Preferred® Card

Rewards:  

5x points
Travel
5x points on travel purchased through Chase Ultimate Rewards.
3x points
U.S. supermarkets
Earn 3x points on online grocery purchases (excluding Target, Walmart and wholesale clubs).
3x points
Streaming services
Earn 3x points on select streaming services.
3x points
Dining
3x points on dining, including eligible delivery services, takeout and dining out.
2x points
Travel
2x points on travel not booked through Chase Ultimate Rewards, such as airfare, hotels, taxes and trains.
1x points
On all other purchases
1x points on all other purchases.

Southwest Rapid Rewards® Premier Credit Card

Rewards:

3x points
Southwest Purchases
Earn 3x points on Southwest® purchases.
2x points
Streaming services
Earn 2X points on internet, cable, and phone services; select streaming.
2x points
Transit
Earn 2x points on local transit and commuting, including rideshare.
1x points
On all other purchases
Earn 1x point on everyday purchases.

Rates and Fees

Both cards have very similar annual fees: $95 (Sapphire Preferred) vs. $99 (Southwest). Neither card has foreign transaction fees, and neither card is currently offering a 0% introductory APR.

Who the Chase Sapphire Preferred® Card is Best For

This is a great travel card that offers flexible benefits. You can easily earn reward points, and if you transfer them to any of Chase's travel partners, it's possible to earn free flights or hotel stays. There are many travel reward cards out there, but not many of them offer a better bang for your buck than the Chase Sapphire Preferred® Card.

If you get the travel bug and decide you want a more premium card, consider the Chase Sapphire Reserve®. The annual fee is higher, but you'll get a suite of travel benefits that offset some of it.

Who the Southwest Rapid Rewards® Premier Credit Card is Best For

The Southwest Rapid Rewards® Premier Credit Card is for loyal Southwest frequent flyers. You prefer to always fly Southwest and you can also earn rewards on purchases like transit and streaming. But most of the value comes from the travel rewards on Southwest and the 6,000 bonus point anniversary bonus.

If you also enjoy flying with Delta, you might consider the Delta SkyMiles® Gold American Express Card. It has a similar annual fee, and you can earn elevated rewards on everyday purchases like dining and groceries.

Does it Make Sense to Get Both Cards?

Maybe. You could apply for the Southwest Rapid Rewards® Premier Credit Card card specifically for the Southwest-specific perks, and use the Chase Sapphire Preferred® Card for dining, hotels, car rentals, and other travel. Both have reasonable annual fees, so you could apply for both and see if it makes sense for you. But it's more likely that one will work better for you than the other.

Approval Odds

The credit score data listed below comes from publicly available information in a number of forums. The accuracy of the information cannot be verified. Keep in mind that credit card issuers consider more than an applicant’s credit score and that underwriting standards change over time.

Chase Sapphire Preferred® Card 

App StatusDateCredit ScoreBureauCredit Limit
Approved03/23/2022
750
Equifax
$22,000
Approved03/23/2022
770
Experian
$22,000
Approved09/21/2022
788
Experian
$12,900
Approved05/28/2022
740
Not Provided
$18,400
Approved06/26/2022
729
Equifax
$14,000
Approved06/26/2022
725
Experian
$14,000
Approved06/26/2022
737
TransUnion
$14,000
Approved07/06/2022
786
Experian
$16,600
Approved09/21/2022
743
Equifax
$12,900
Approved12/04/2022
770
Experian
$12,000
Denied08/07/2022
720
Not Provided
---

Southwest Rapid Rewards® Premier Credit Card

App StatusDateCredit ScoreBureauCredit Limit
Approved11/19/2019
707
Experian
$6,900
Approved11/19/2019
705
TransUnion
$6,900
Approved11/19/2019
724
Equifax
$6,900
Approved08/06/2022
680
Experian
$9,600

Both cards are issued by Chase, so they have similar credit approvals. Keep in mind Chase has the 5/24 rule, which means that if you've opened more than five new credit cards in the past 24 months, you likely get rejected for another card. There has been some debate as to whether Southwest cards follow this rule or not. To be on the safe side, apply for the card you really want first.

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Rob Berger founded allcards.com in 2008 to help consumers make data-driven decisions about credit cards and banking. A retired trial attorney, he’s written about credit cards, banking and personal finance since 2007, and is the author of Retire Before Mom and Dad.

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