Southwest’s New Debit Card Lets You Earn Points

Southwest Airlines just launched a Rapid Rewards® Debit Card, and its rewards are pretty generous — for a debit card. It comes with a small welcome bonus, points on everyday spending and other modest perks. Most debit cards don’t offer such benefits.

To be sure, it's not the fastest way to earn rewards. Most cash-back and travel credit cards — and some debit cards — offer higher ongoing earning rates. Still, it's nice to have one more way to earn Southwest points.

Southwest Rapid Rewards debit card details

The Rapid Rewards® Debit Card, launched on Oct. 28, 2025, offers:

• Welcome bonus: Earn 2,500 Southwest Rapid Rewards points with two recurring deposits and $100 spend in the first 90 days.

• Rewards on spending: Earn 1 point per $1 on Southwest purchases, dining, subscriptions and utilities and 1 point per $2 on other purchases. 

• Southwest perks: Earn up to 7,500 anniversary points, a promotion code for 20% off a paid fare and an annual $35 Southwest travel credit. 

• Companion Pass bonus: Get up to 7,500 annual bonus points that count toward earning a Southwest Companion Pass. A Companion Pass allows you to fly with a companion for only the cost of taxes and fees on any ticket for the rest of the year in which you qualified and the following calendar year.

The card and account — which the airline says are aimed at "younger and cash-savvy travelers" — are issued by Sunrise Banks, which serves customers “in Minnesota, South Dakota and beyond." It's an FDIC member with funds insured up to $250,000. Southwest says there’s no credit check and no ATM fees within Mastercard's Cirrus network.

But there are some catches.

The monthly fee is $6.99. That’s waived if you maintain a balance of more than $2,500 — but if you plan to keep less, the fees add up to about $84 per year.

You’ll also need to hit certain spending requirements to earn that anniversary bonus of “up to” 7,500 anniversary points. If you spend under $5,000 per year on the card, you won’t earn any bonus points. Here are the spending requirements for each bonus tier.

While the bank has a few locations in Minnesota and South Dakota, its services are offered primarily online. It might not be a good option if you need to make cash deposits, get cashier checks or use in-person services.

Learn more: Is a Southwest credit card worth it?

Is it a good deal?

For most people, not really. If you already have a debit card and use rewards cards for most purchases, the extra points might not be worth the hassle of opening a new bank account. And if you only use a debit card for purchases, a rewards credit card could offer richer rewards and benefits.

NerdWallet values Southwest points at around 1.3 cents each. You’d earn 15,000 Southwest points for spending $15,000 (0.5 point per dollar spent on everyday purchases plus the 7,500 bonus). That works out to be worth around $195. If you spent that much on a 2% cash back credit card, you’d earn $300 in rewards instead.

You’d also do better with one of the best Southwest Airlines credit cards, which all earn 1 point per dollar spent as a base rate — twice as much as what the Southwest debit card earns. Southwest-branded credit cards also offer large sign-up bonuses that can help you earn a Companion Pass much faster.

Because it’s a debit card, your purchases also won’t qualify for the same protections that credit cards offer, such as $0 fraud liability.

When it makes sense

While the Rapid Rewards® Debit Card’s rewards are more modest than what a travel credit card could offer, it could still make sense if you want one more way to earn Southwest points. Maybe you want to earn points on purchases you can’t charge to a credit card. Or maybe you want to earn points on transactions that would otherwise incur credit card surcharges.

Before getting the card, just make sure you can maintain a bank balance of over $2,500 with Sunrise Banks so the monthly fees are waived. With limited rewards, that monthly fee of $6.99 might be more than you’d earn in points in a given month. And if you plan to make ATM withdrawals, make sure you have ATMs nearby in-network to avoid withdrawal fees.