Southwest Rapid Rewards^® Premier Credit Card Review [2023]: Worth the Annual Fee?

Finding the right travel rewards card is always a challenge. If you show loyalty to a particular airline, though, getting a branded credit card can be a smart move. Especially, if you agree Southwest is the best airline to fly due to their baggage policy and lack of change fees.

If you fly Southwest Airlines on a regular basis, you might benefit from the Southwest Rapid Rewards^® Premier Credit Card. With the ability to earn extra Rapid Rewards points, receive bonus points each year, and more quickly earn a Southwest Companion Pass, this card can help you earn nearly free flights faster.

This Southwest Premier Credit Card review will help you decide if this is the best airline credit card for you.

Who should get the Southwest Rapid Rewards Premier Credit Card?

In general, the Southwest Rapid Rewards Premier Credit Card is best for those who frequently travel using Southwest and want to fly Southwest using points. With the help of this card, it’s also possible to reach A-List Status faster, allowing you priority boarding and check-in as well as 25% more Southwest Rapid Rewards points for each flight. For those who fly frequently using Southwest, this can add to the convenience.

For consumers who don’t fly Southwest Airlines very often, this card probably won’t be as good a choice. Your best opportunity to earn bonus points with this card is on Southwest purchases and with Southwest hotel and rental car partners, so if you’re not brand loyal, consider a different travel credit card.

Additionally, this credit card isn’t for those wanting luxury perks, such as access to airline lounges or the ability to upgrade to business class. Southwest is fairly utilitarian, so those who fly this airline are more concerned with an efficient way to get from one place to another.

Be aware that if you want a better chance of qualifying for the Southwest Rapid Rewards Premier Credit Card, you need good to excellent credit. But for those who meet the requirements and want to enhance their Southwest travel experience, this credit card can be a solid choice.

Card basics

Card type	Travel
Card issuer	Chase
Annual fee	$99
Intro bonus	Earn 60,000 bonus points (plus a 30% off promo code) after spending $3,000 in the first 3 months
Reward rate	3X points for Southwest purchases; 2X points at participating Rapid Rewards hotel and car rental partners; on local transit and commuting, including rideshare; and on internet, cable, phone services, and select streaming; and 1X points on all other purchases
Recommended credit score	Excellent, Good
Foreign transaction fee	None

Southwest Rapid Rewards Premier benefits and perks

No Southwest Premier Card review would be complete without a look at the top available card benefits. Here’s what you can expect if you get this credit card.

• Generous sign-up bonus: Earn 60,000 bonus points (plus a 30% off promo code) after spending $3,000 in the first 3 months.

• Anniversary bonus points: After your cardmember anniversary, you’ll receive 6,000 bonus anniversary points. These points can be used each year to help you reach different goals and also help you redeem for flights and other rewards.

• Achieve A-List Status faster: It takes 35,000 tier qualifying points to reach A-List Status each year, and having this credit card could help you earn that status faster. With A-List Status, you can enjoy Priority check-in and boarding, earn 25% more Rapid Rewards points for each trip, and even get free same-day standby.

• No foreign transaction fees: When you make purchases in other countries using your Southwest Premier Credit Card, you don’t have to worry about paying foreign transaction fees, as the card doesn’t charge any.
• Earn a Southwest Companion Pass faster: This card's welcome offer earns you points that count toward a Southwest Companion Pass, which allows you to bring someone along with you for free (minus taxes and fees). With the ability to earn 3X points on Southwest purchases and 2X points on participating Rapid Rewards hotel and car rental partners; on local transit and commuting, including rideshare; and on internet, cable, phone services, and select streaming, this card can help you get a free ticket for a fellow traveler a bit faster. 
• DoorDash benefits: Receive a complimentary 12-month DashPass subscription if you activate by Dec. 31, 2024. DashPass benefits include $0 delivery fees for orders over $12.

Drawbacks to this card

• Annual fee: Though it's not a large fee, cardholders will have to pay $99 each year.
• No luxury perks: If you're looking for a list of travel benefits, then this card will not be a good fit for you. Instead, you may want to consider the Southwest Rapid Rewards^® Priority Credit Card, which comes with an annual travel credit and upgraded boardings.
• No intro balance transfer offer: This is primarily a travel card, not a balance transfer credit card. So if you are looking to get out of credit card debt without incurring interest charges, this card would not be a good fit for you.

Earning & redeeming Rapid Rewards points

Potential earnings in years one and two

Here's a look how your Southwest Rapid Rewards can add up with the Southwest Rapid Rewards Premier Credit Card. To calculate these values, we used a point valuation of 1.4 cents per point, based on the average redemption value achieved by the award travel community.

Remember, this is an estimation. The actual value will be determined by how much you spend and in which categories you spend.

Year one earnings: $1,210

Year two earnings: $370

These values are based on the FinanceBuzz Credit Card Rewards Valuation Model which takes a look at points earned via spending, the welcome bonus, and the annual fee. 

For this particular card, the assumption is that the "travel" spending did not include any Southwest Airlines purchases or take advantage of the 2X rewards rate on participating Rapid Rewards hotel and car rental partners; on local transit and commuting, including rideshare; and on internet, cable, phone services, and select streaming. Of course, with this card you are likely to book with Southwest and its hospitality partners. So your earnings in your first year and second year would potentially be much higher than what is projected here.

Best ways to earn

The best way to earn Southwest Rapid Rewards points with this card is to use it for purchases on Southwest, including buying airfare. On top of that, you can earn bonus points for hotel stays with certain hospitality partners and car rental partner purchases. This includes brands such as Choice Hotels, Best Western, Radisson, World of Hyatt, Alamo, Payless, Avis, Hertz, and more.

Basically, if you travel often enough and use your Southwest Rapid Rewards Premier to pay for it, you can earn points at a faster pace. Once you reach A-List Status (35,000 tier qualifying points), you can boost your reward earnings on Southwest purchases by getting 25% more points when you use your card.

Categories	Rewards rate
Southwest purchases	3X
Participating Rapid Rewards hotel and car rental partners; on local transit and commuting, including rideshare; and on internet, cable, phone services, and select streaming	2X
All other purchases	1X

Maximizing your redemptions

Southwest Rapid Rewards points don't transfer to any other loyalty programs. To truly maximize rewards, your best bet is to redeem points for Southwest flights. Depending on the kind of traveler you are, the Southwest Companion Pass could save you thousands of dollars in a single year. And since the Southwest check-in process and boarding policy don't allow for seat assignments, you don't have to worry about seat restrictions when you book award travel.

You can also redeem your rewards for gift cards and merchandise, but the point value isn’t as high. For example, you can redeem points for a $25 gift card for 3,000 points, making the award worth less than one cent per point. On the other hand, you might be able to redeem a $343 ticket for 23,849 points, making each point worth around 1.44 cents.

Southwest Rapid Rewards Premier Credit Card FAQs

Other cards to consider

If an airline credit card feels too restrictive to you and you’re looking for more general travel rewards cards, there are a couple of other credit card offers that you might consider.

Cardholders of the Chase Sapphire Preferred^® Card will benefit from trip delay reimbursement, baggage delay insurance, trip cancellation insurance, trip interruption insurance, and primary auto rental collision damage waivers. In addition, Southwest Airlines is a Chase transfer partner, so you can earn Chase Ultimate Rewards points and use them for Southwest airfare.

The Capital One Venture Rewards Credit Card offers cardholders a TSA PreCheck or Global Entry application fee statement credit, an extended warranty on purchases, travel coverage that includes travel accident insurance, and a flexible rewards program. It's $95 annual fee is comparable to the Chase Sapphire Preferred and the Southwest Rapid Rewards Premier card.