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You are here: Home / Credit Cards / Southwest Rapid Rewards® Premier Credit Card review–50,000 Bonus Points

Southwest Rapid Rewards® Premier Credit Card review–50,000 Bonus Points

May 27, 2022 by Rob Berger

Update: Southwest just increased the signup bonus on this card to 50,000 points.

The Southwest Rapid Rewards® Premier Credit Card is designed for those who frequently fly Southwest. It offers an excellent signup bonus and up to 3 points per dollar spent on the card, but it does come with an annual fee. We explore who the card is best for and your approval odds in this Southwest Rapid Rewards® Premier Credit Card review.

Southwest Rapid Rewards® Premier Credit Card
Learn More
Our Rating
4.5/5.0
Welcome Offer
50,000 Points
Annual Fee
$99
0% on Purchases
None
Rewards Rate
2x - 3x Points
0% on Balance Transfers
None

Rewards

3x points
Southwest Purchases
Earn 3x points on Southwest® purchases.
2x points
Streaming services
Earn 2x points on internet, cable, and phone services, and 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.

Signup Bonus

Earn 50,000 bonus points after spending $1,000 within your first 3 months.

Redeeming Rewards

The most frequent use of Rapid Rewards Points is for free airfare on Southwest. Unlike some other airlines, there is no set number of points needed for travel. Instead, the number of points required for a free airline ticket depends on “destination, time, day of travel, demand, fare class, point redemption rate, and other factors and is subject to change,” according to Southwest Airlines.

To give you an idea of the value of the points, here are the redemption values on several flights (keep in mind that these can change daily):

FromtoEstimated Points
DallasLos Angeles22,074
New York CityLos Angeles29,250
New York CityChicago19,890
New York CityChicago19,890

You can also use points for rental cars, hotels, gift cards, and other rewards. Here the points are typically worth 1 cent (e.g., $100 Best Western travel card costs 10,000 points).

Pros & Cons

Pros
  • Welcome bonus
  • No foreign transaction fee
  • Up to 3x rewards
Cons
  • Annual fee
  • Requires good credit

Features & Benefits

SecurityZero Liability, Alerts
Contactless PaymentsTap to Pay, Apple Pay, Google Pay
Benefits24/7 customer service
Travel PerksFree Checked Bags

Interest Rates & Fees

Annual Fee$99
Foreign Transaction FeeNone
Regular APR20.24% - 27.24% (V) APR

Our Take

Who is the Southwest Rapid Rewards Premier card best for?

The Southwest Rapid Rewards® Premier Credit Card is of course for those who love to fly Southwest Airlines. Those who earn all of the bonus points could get several flights for free, depending on the cost of the flight.

Who would do better with a different card?

Those who aren’t loyal to Southwest Airlines or don’t travel frequently may do better with a different travel rewards credit card. Specifically, you might be better with a travel card that is not specific to a particular airline. These cards allow you to earn points or miles that can be used for any airline, hotel or car rental company.

Credit Needed for Approval

Before getting to the credit needed, keep in mind that all of the Chase Southwest personal credit cards are subject to the 5/24 rule. If you’ve applied for five Chase credit cards in the past 2 years, you’ll be automatically rejected. In addition, you won’t be eligible for this offer if you already have a Southwest personal card or have received a signup bonus on a personal Southwest credit card in the past 24 months.

In terms of credit, LendingTree reports that the credit score range for approval is 750 to 850. The lowest score was 607. Keep in mind, however, that credit card issuers consider a lot more than just your credit score. They look at your income and existing debts, among other things.

What are the best alternatives?

Capital One Venture Rewards Credit Card
Capital One Venture Rewards Credit Card

Rating

4.5

Rewards Range

2x - 5x miles

Annual Fee

$95

Read Review
Chase Sapphire Preferred® Card
Chase Sapphire Preferred® Card

Rating

4.9

Rewards Range

1x - 5x points

Annual Fee

$95

Read Review
The Platinum Card® from American Express
The Platinum Card® from American Express

Rating

4.5

Rewards Range

1x-10x

Annual Fee

$695

Read Review

FAQs

Which Southwest credit card is best?

The answer will depend on how frequently you fly Southwest. For most travelers, the Southwest Rapid Rewards® Premier Credit Card offers the best mix of rewards with a reasonable annual fee.

How much are Southwest points worth?

The value will depend on how you use the points. Our analysis shows that generally 50k points are worth roughly two domestic round-trip flights in the continental U.S.

Is a Southwest Airlines credit card worth it?

Yes, if you make Southwest your airlines of choice. It’s the fastest way to earn free flights on Southwest. If you prefer to pick the cheapest flight, regardless of the airline, the Southwest card is probably not for you.

Related Articles

  • Best Travel Reward Credit Cards of 2023
  • Best Airline Miles Credit Cards of 2023
  • How to Snag a Free Southwest Companion Pass Without Taking 100 Flights

About Rob Berger

Rob Berger is the founder of allCards.com. He's written about personal finance and investing since 2007 and is the author of the highly acclaimed book, Retire Before Mom and Dad. He is a former litigation attorney in the securities field and the Founding Editor of Forbes Advisor.

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