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Southwest Rapid Rewards Premier Card

in Personal Credit Cards

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Southwest Rapid Rewards Premier Card

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in Personal Credit Cards

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Overview

Who is Southwest Rapid Rewards Premier Designed For?

The Southwest Rapid Rewards Premier credit card is an excellent option for people who frequently travel (or plan to travel) with Southwest Airlines and want an easy to use frequent flyer program. It isn’t a good choice for people hoping to use their points on other airlines or who value luxury perks. Southwest Airlines is, after all, a no-frills airline and it isn’t a member of any of the three major airline alliances: Star Alliance, OneWorld, and Sky Team.

What are Southwest Rapid Rewards Premier's Rates?

The rates for purchases and balance transfers for Southwest Rapid Rewards Premier range from 17.49% APR to 24.49% APR depending on creditworthiness. Cash advances have a rate of 26.49% APR.

What Are the Fees for the Southwest Rapid Rewards Premier Credit Card?

-       Southwest Rapid Rewards Premier has a $99 annual fee that is not waived the first year.

-       There are no foreign transaction fees.

-       There is a 5% balance transfer ($5 minimum) and cash advance fee ($10 minimum).

-       Late payments and returned payments incur fees of up to $37.

-       There is no penalty rate or over-the-credit-limit fee.

What Is Southwest Rapid Rewards Premier’s Rewards Program Like?

Southwest Rapid Rewards cardholders earn 2 points for every $1 they spend on Southwest Airlines and Rapid Rewards hotel and car rental partner purchases. All other purchases earn 1 point for every $1 spent.

There is a lot to love about Southwest Rapid Rewards. Unlike many other airline frequent flyer programs, Southwest does not have blackout dates or seat restrictions for travelers using points to book flights.

Southwest Rapid Rewards offers an anniversary bonus of 6,000 points to members on their account anniversary. This is the equivalent of $60, which goes a long way to offset the $99 annual fee.

What about Southwest Rapid Rewards Premier’s Signup Bonus?

New members receive 40,000 points after they spend $1,000 within the first three months. The signup bonus is available to consumers who have not received a new member bonus in the last 24 months.

Does Southwest Rapid Rewards Premier Have Any Other Benefits?

Southwest Airlines is a no-frills/discount airline, so it’s no surprise its co-branded credit card does not offer much in the way of luxury benefits and perks. However, it has valuable benefits for cardholders who frequently travel with Southwest Airlines

-       All cardholders receive two free checked bags

-       There are no flight change fees.

How Is Southwest Rapid Rewards Premier Card Better Than Other Credit Cards?

Southwest Rapid Rewards provides a substantial signup bonus and a flexible rewards program. There are no blackout dates or restrictions when redeeming points for flights. Frequent fliers enjoy free checked bags and free flight changes.

The $99 annual fee is pricey, especially since it’s not waived the first year. However, regular Southwest Airlines travelers will quickly offset the cost.

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Availability

Available in 50 States and Washington, DC
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Grace Period / Deferred Interest (Months)
21
Foreign Currency Transaction Fee
0%
No Foreign Transaction Fee
Late Payment Penalty
$37
Returned Payment Fee
$37
Annual Fee
$99
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Credit Score Range
700 - 850
850 300 700
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Minimum Age
18
Customer Type
Personal
Credit Card Benefits
  • Auto Rental Collision Damage Waiver
  • Emergency Support
  • Extended Warranty Protection
  • Fraud Liability
  • ID Theft Protection
  • Purchase Protection
  • Travel Accident Insurance
  • Travel Assistance
Lost Luggage Insurance
Car Rental Insurance
Extended Warranty
Fraud Liability
Travel Insurance
Flight Insurance
Bonus Rewards
2x
Rewards Categories
  • Airfare
  • Car Rentals
  • Every Purchase
  • Hotels
No Reward Expiration Period
No Blackout Dates
Every Purchase
1x
Signup Bonus (points)
40,000
Annual Loyalty Bonus (points)
6,000
Purchases APR
(Variable APR)
17.49% - 24.49%
0% 29%
Balance Computation
daily balance method (including new transactions)
Balance Transfer APR
(Variable APR)
17.49% - 24.49%
8% 29%
Transfer Fee
5%
Transfer Fee Minimum
$5

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