Southwest Rapid Rewards Plus Review: Solid Rewards for Less

The Southwest Rapid Rewards® Plus Credit Card isn't the flashiest of the three co-branded Chase cards in the Rapid Rewards family, but that doesn't mean it's the black sheep of the clan either.

After all, the three Southwest cards offer the same APR and sign-up bonus, which gives you a nice boost toward earning the coveted Southwest Companion Pass (or during some promotions, a first-year Companion Pass included after required spending.) And since the Southwest Rapid Rewards® Plus Credit Card has the lowest annual fee of all the Southwest cards, why wouldn't it win out every time?

Well, for starters, it doesn't travel as well as its two big siblings, nor is it as generous with side benefits or ongoing rewards rate. And if you're a loyal Southwest customer seeking extra perks when you travel, it could be that the much pricier Southwest Rapid Rewards® Priority Credit Card will still be a better deal for you thanks to the added value you'll get.

» MORE: Which Southwest Airlines credit card should I get?

Southwest Rapid Rewards® Plus Credit Card: Basics

Card type: Airline.

Annual fee: $69.

Sign-up bonus: Earn 50,000 bonus points after spending $1,000 on purchases in the first 3 months from account opening.

Rewards:

• 2 points per dollar spent on Southwest® purchases and Rapid Rewards® hotel and car rental partner purchases.

• 2 points per dollar spent on local transit and commuting, including rideshare.

• 2 points per dollar on internet, cable, phone services and select streaming.

• 1 point per dollar spent on all other purchases.

» MORE: Southwest Airlines Rapid Rewards program: The complete guide

Interest rate: The ongoing APR is 21.49%-28.49% Variable APR.

Foreign transaction fee: 3%

Other benefits:

• Anniversary bonus of 3,000 points every new cardmember year.

• 2 EarlyBird Check-In® each year.

» MORE: Benefits of Southwest Airlines credit cards

Calculate your rewards

To see if the rewards you'd earn on this card would make up for the annual fee, try our calculator:

Low annual fee

The $69 annual fee is relatively low for an airline card with a healthy sign-up bonus and ongoing bonus rewards on airline purchases. For comparison's sake, the Southwest Rapid Rewards® Premier Credit Card charges a $99 annual fee, and the Southwest Rapid Rewards® Priority Credit Card clocks in at $149 per year.

Generous sign-up bonus

Earn 50,000 bonus points after spending $1,000 on purchases in the first 3 months from account opening. That's a big chunk of points to spend toward free flights.

Extra anniversary points

For each year you keep your card account open, you'll receive an anniversary bonus of 3,000 points. (You can also earn extra points by booking car rentals and hotels through the Rapid Rewards program, or using the Rapid Rewards Shopping portal.)

Fewer perks than other Southwest cards

The Southwest Rapid Rewards® Plus Credit Card earns 3,000 anniversary points, half as many as the Southwest Rapid Rewards® Premier Credit Card. Based on point valuation, the difference in the anniversary bonus is more than enough to offset the difference in annual fees between those two cards, making the Southwest Rapid Rewards® Plus Credit Card the worse deal.

And the Southwest Rapid Rewards® Priority Credit Card offers even more benefits to help defray its hefty $149 annual fee. Every year, Priority cardholders get a 7,500-point anniversary bonus, a $75 Southwest travel credit and four upgraded boardings when available (those are worth $30 to $50 per flight).

Also, the Southwest Rapid Rewards® Plus Credit Card is the only card of the three that doesn't earn tier qualifying points. Those points count toward elite status, known as "A-List" or "A-List Preferred" in Southwest's programs. Benefits of such status include priority boarding and bonus points for flights you pay for.

Here's a look at how the three Southwest consumer cards compare:

» MORE: Which Southwest Airlines credit card should I get?

Weak bonus categories

Most purchases will earn you 1 point per dollar, and you'll earn 2 points per dollar on Southwest purchases, Rapid Rewards hotel and car rental partner purchases, local transit, rideshare, internet, cable, phone services and select streaming. But other rewards cards allow you to earn 2 points per dollar on more spending categories without having to shop through a partner program:

• The Chase Sapphire Preferred® Card earns at least 2 points back on travel purchases (you'll earn 5X points on travel booked through Chase), not to mention 3X back on dining. Its points can transfer directly into the Southwest Rapid Rewards program. It has an annual fee of $95.

• With the Capital One Venture Rewards Credit Card, you'll earn 2 miles per dollar on spending, for a comparable annual fee.

Foreign transaction fee

The 3% foreign transaction fee makes the Southwest Rapid Rewards® Plus Credit Card a poor choice to use during an international trip. Neither of the pricier Southwest cards charges a foreign transaction fee.

Frequent Southwest flyers will find a lot to love about the Southwest Rapid Rewards® Plus Credit Card because it offers so many of the same benefits as its higher-end siblings.