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Author: Tim Chen The Southwest credit card is currently offering a great signup bonus: Get 50,000 points after you spend $2,000 on purchases in the first 3 months of opening your account. Plus, there's an anniversary bonus of 6,000 points each year.
Each point is worth 1.43 cents of Wanna Get Away fare. This means the anniversary bonus is worth worth $86 in Wanna Get Away fare, nearly offsetting the $99 annual fee.
Moreover, the card gives an ongoing rewards rate of 2 points per $1 on Southwest and 1 per $1 elsewhere, for a rewards rate of 2.86% on Southwest purchases and 1.43% elsewhere when you redeem on Southwest. This is much better than many other cards. Plus, it has no foreign transaction fee, so you'll be okay if you go overseas.
While the reward rate is above average, with a $99 annual fee and a fairly industry average APR, we would primarily recommend this card to frequent Southwest travelers. If you aren't wedded to just one airline, consider the Barclaycard Arrival Plus™ World Elite MasterCard®.
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