Editorial Review

Southwest Premier Credit Card Review: The Ultimate Guide

Earn 2 points per dollar spent with Southwest and its partners and 1 point per dollar elsewhere, plus an anniversary bonus every year.

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Southwest Rapid Rewards® Premier Credit Card

Southwest Rapid Rewards® Premier Credit Card

on Chase's secure website

Our Take

3.6

Editor's overall rating

The Bottom Line: The rewards are similar to other airline cards, but forget about perks. Annual fee is also an issue.

Quick Facts

Annual Fee
$99
Regular APR
17.74% - 24.74%

Variable

Alternate Pick: No Annual Fee

Bank of America BankAmericard Travel Rewards® Credit Card Credit Card

NerdWallet Rating

Bank of America® Travel Rewards Credit Card

A great travel rewards card with no annual fee

With no annual fee, this card gives you 1.5 points for every $1 you spend. It comes with a sign-up bonus and points are redeemable for statement credit against any travel expense.

Read our review

Pros & Cons

Pros
  • No foreign transaction fees
  • Anniversary bonus
  • No blackout dates or seat restrictions
Cons
  • No luxury perks
  • Can't stack points from other frequent flyer programs
  • Has annual fee, not waived for the first year

recommended credit score

Full Review

The Southwest Rapid Rewards® Premier Credit Card succeeds where most budget airline credit cards fail: It gives you reasons to stay loyal.

This card’s generous ongoing perks, including an anniversary bonus, let you earn free flights faster. And if you spend a lot on Southwest flights, it could help you qualify for A-List status and the airline’s coveted Companion Pass faster, too. Unlike its sibling card, the Southwest Rapid Rewards® Plus Credit Card, it doesn’t charge foreign transaction fees.

Key features of the Southwest Rapid Rewards® Premier Credit Card

Here are some fast facts about the Southwest Rapid Rewards® Premier Credit Card:

  • Sign-up bonus: Earn 40,000 points after you spend $1,000 on purchases in the first 3 months your account is open
  • Annual fee: $99
  • Foreign transaction fees: None
  • Ongoing rewards:
    • 2 points per dollar spent on Southwest purchases and Rapid Rewards hotel and car rental partner purchases
    • 1 point per dollar spent on all other purchases
  • Other benefits: 
    • Anniversary bonus of 6,000 points every new cardmember year
    • 1,500 tier-qualifying points for every $10,000 spent on the card each calendar year, up to 15,000 annually. Tier-qualifying points help you reach A-List or A-List Preferred status faster. Other points you earn may count toward a Companion Pass or free flights, but they won’t help you qualify for these statuses.

To find out if the rewards you’d earn on this card would make up for the annual fee, check out our calculator.

Where the Southwest Rapid Rewards® Premier Credit Card shines

The Southwest Rapid Rewards® Premier Credit Card offers valuable benefits, including:

Huge sign-up bonus. This card comes with a generous sign-up bonus: Earn 40,000 points after you spend $1,000 on purchases in the first 3 months your account is open. That’s worth $400 when redeemed for Southwest flights, according to NerdWallet’s valuations — possibly enough to cover airfare for your next vacation. It also gets you within spitting distance of qualifying for the airline’s Companion Pass. More on that later.

Anniversary bonus. This card automatically gives you 6,000 bonus points — worth about $60, according to NerdWallet’s valuations — on every cardmember anniversary. You don’t have to meet a spending requirement to earn this bonus.

No foreign transaction fees. Unlike its sibling card, the Southwest Rapid Rewards® Premier Credit Card doesn’t charge you extra when you’re making purchases abroad. That makes it an excellent pick for international travelers. Though Southwest mostly flies domestic, it does offer service to Mexico, Central America and the Caribbean. Another goodie for globe-trotters: You can use Southwest’s More Rewards platform to book international flights to other destinations through partner airlines with points.

A way to earn the Companion Pass and A-List status faster. The Southwest Rapid Rewards® Premier Credit Card is especially valuable for Southwest diehards, because it puts them on the fast track to Southwest’s sought-after loyalty benefits:

To find out whether this card might help you qualify for these benefits faster, given your spending, take this quiz:

What to know about the Rapid Rewards program

Southwest points are worth an average of 1 cent each when redeemed for Southwest flights, according to NerdWallet’s valuations. As you can see in the graph below, that’s a little low when compared with some other frequent flyer programs. But Southwest points are generally easier to redeem than those from other airlines, because Southwest doesn’t limit availability for those booking with points.

You can also earn tier-qualifying points — that is, points that help you eventually qualify for A-List status — directly through Southwest when you buy fares for yourself (though you won’t earn these points for purchasing fares for other travelers). The number of points you’ll earn on personal fares varies, depending on which fare type you purchase:

        • Wanna Get Away — 6 points per dollar spent
        • Anytime — 10 points per dollar spent
        • Business Select — 12 points per dollar spent

Say you buy a Wanna Get Away fare with your card. You’ll earn 2 bonus points per dollar spent on the purchase through your card as well as an additional 6 tier-qualifying points per dollar spent through Southwest. All in all, that’s an effective 8% rewards rate — an excellent return.

» MORE: Chase credit cards mobile app review

Where the Southwest Rapid Rewards® Premier Credit Card falls short

Before applying, consider these pitfalls.

The annual fee isn’t waived the first year. Most airline cards waive the annual fee in the first year, but the Southwest Rapid Rewards® Premier Credit Card offers no such break. After you’re approved for the card, you’ll be billed for the $99 annual fee right away.

No luxury benefits. The Southwest Rapid Rewards® Premier Credit Card is a no-nonsense card. It won’t give you premium benefits, such as lounge access or reimbursement for Global Entry and TSA PreCheck.

No flat-rate rewards. Earning rewards is easier when you don’t have to worry about bonus categories. If you’re looking for a more robust rewards rate and are less concerned about loyalty, try the Capital One® Venture® Rewards Credit Card. It offers an impressive 2 miles per dollar spent on all purchases and comes with an annual fee of $0 for the first year, then $95. The miles can be redeemed to cover a range of travel expenses.

No transferable points. With the Southwest Rapid Rewards® Premier Credit Card, you can’t transfer rewards to other loyalty programs. If you’re looking for more flexibility, try the Chase Sapphire Preferred® Card instead. On top of a generous sign-up bonus, it also offers 1:1 transfers to several loyalty programs, including Southwest. The annual fee is Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®. Just keep in mind that the points you earn through this card don’t count toward the Companion Pass or A-List status.

Interested in learning more about other potential travel card options? Check out our top credit cards page.

Should I get the Southwest Rapid Rewards® Premier Credit Card?

The Southwest Rapid Rewards® Premier Credit Card isn’t a good fit for infrequent travelers or those looking for more versatile rewards. But if you frequently fly on Southwest and travel abroad, it’s a top-of-wallet card.

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