Southwest Priority Card Review: Pay More, Get More

Solid sign-up bonus

Earn 50,000 bonus points after spending $1,000 on purchases in the first 3 months from account opening. Note that this is the same sign-up bonus as offered by other, cheaper Southwest consumer cards. But the Southwest Rapid Rewards® Priority Credit Card justifies its higher fee in ways besides the sign-up bonus.

Anniversary bonus

You get an automatic 7,500-point bonus every year you remain a cardholder. You don't have to meet any spending requirement to receive it. Based on NerdWallet's point valuations, the anniversary bonus alone can go a long way toward covering this card's annual fee.

Priority perks

A handful of additional perks set the Southwest Rapid Rewards® Priority Credit Card apart from the lower-fee cards in the Southwest portfolio.

• Annual travel credit: You get $75 a year in statement credit that you can apply toward Southwest purchases, including airfare, pet carrier fees and other day-of-travel purchases. It excludes in-flight purchases and upgraded boardings.

• Upgraded boardings. The card credits you for up to four "upgraded boardings" a year, which can save you $30 or more each time. Southwest doesn't have assigned seating. Instead, it has a designated boarding order, and you pick your seat once you get on the plane. The earlier you board, the better your seat selection — and the more likely you are to score overhead bin space for your carry-on. Paying for upgraded boarding lets you jump close to the front of the line (when available).

• Savings on in-flight purchases. You get 25% back when you use the card to pay for drinks, Wi-Fi, messaging, movies or other qualifying in-flight services.

No foreign transaction fees

The Southwest Rapid Rewards® Priority Credit Card makes a fine companion for international travel, since it doesn't impose a surcharge on purchases overseas. Southwest flies mostly domestic routes, but it does offer service to Mexico, Central America and the Caribbean. For other international destinations, you can redeem points to book flights with partner airlines through the Southwest More Rewards platform. Regardless of how you get abroad, this card is a fine choice to use once you're there.

Head start on Companion Pass and A-List status

The Southwest Rapid Rewards® Priority Credit Card gives you a boost toward earning Southwest's popular loyalty benefits:

• Companion Pass: This pass lets one companion fly with you for free (except for taxes or fees) whenever you purchase or redeem points for a trip. You can get it by earning 135,000 qualifying points in a year. All points earned with the Southwest Rapid Rewards® Priority Credit Card, including sign-up and anniversary bonuses, count toward the pass.

• A-List status: This gets you priority check-in, free same-day standby if you want to fly out earlier on the day of your scheduled flight, a 25% points bonus when purchasing eligible Southwest flights, and other benefits. You can qualify for the status by earning 35,000 "tier-qualifying points" in a calendar year. Ordinarily, the only way to earn tier-qualifying points is by actually flying Southwest. But the Southwest Rapid Rewards® Priority Credit Card gives you 1,500 of these points for every $5,000 you spend, with no limit.

• A-List Preferred status: This gets you A-List perks, free in-flight Wi-Fi on equipped planes and a 100% points bonus when purchasing eligible Southwest flights (rather than just a 25% bonus). You can qualify for A-List Preferred by earning 70,000 tier-qualifying points in a calendar year; the tier-qualifying points you earn with the Southwest Rapid Rewards® Priority Credit Card apply to this status, too.

First year's annual fee isn’t waived

Co-branded airline credit cards often waive the annual fee during the first year, but that’s not the case with the Southwest Rapid Rewards® Priority Credit Card.

No luxury benefits

The Southwest Rapid Rewards® Priority Credit Card is the most feature-laden of the Southwest Airlines credit cards, but Southwest is still Southwest — no frills. If you want airport lounge access or credit for a Global Entry or TSA Precheck application fee, you'll have to look elsewhere.

Limited, inflexible spending rewards

The points you earn with the Southwest Rapid Rewards® Priority Credit Card can't be transferred to other airlines or travel partners. If you frequently fly with multiple airlines besides Southwest, consider a general travel rewards card that will offer more redemption flexibility.

» MORE: Chase credit cards mobile app review

Possible alternatives

Southwest Rapid Rewards® Plus Credit Card

If you're a Southwest loyalist but aren't interested in paying such a large annual fee, the Southwest Rapid Rewards® Plus Credit Card could be an option. Its perks are less generous, but it offers the same sign-up bonus and ongoing rewards as the Southwest Rapid Rewards® Priority Credit Card, and you may find its annual fee of $69 more palatable. Be aware that the card does charge a foreign transaction fee. And while it can help you earn Rapid Rewards points, it doesn't earn tier qualifying points.

There's also a third Southwest card — the Southwest Rapid Rewards® Premier Credit Card — that splits the difference.

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

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

Chase Sapphire Preferred® Card

Perhaps you like Southwest, but you want a card that offers more flexible rewards. The Chase Sapphire Preferred® Card allows you to transfer your rewards points to multiple hotels and airline partners — one of which happens to be Southwest. You'll earn at least 2 Chase Ultimate Rewards® points per dollar spent on travel, as well as 3 points back on dining, among other bonus categories. The card has an annual fee of $95, but it offers a hefty sign-up bonus: Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.

Capital One Venture Rewards Credit Card

Unless you’re strictly loyal to Southwest, the Capital One Venture Rewards Credit Card may be a better fit for your wallet if you cherish bargains on airfare and hotels. The card earns 2 miles per $1 spent on purchases, and you can redeem miles for statement credit against any travel purchase. The card also offers an application fee credit for Global Entry or TSA Precheck programs. It comes with a nice bonus offer, too.