Travel

Southwest Premier Credit Card assessment: Good worth at a low value

November 5, 2022

Editor’s be aware: This submit has been up to date with new info.

Southwest Rapid Rewards Premier Credit Card overview

The Southwest Rapid Rewards Premier Credit Card is the center of the pack on the subject of Southwest private bank cards. While airline bank cards typically don’t include too many perks, the absence of overseas transaction charges and 6,000-anniversary bonus factors ought to assist offset this card’s cheap $99 annual charge. Card ranking*: ⭐⭐⭐½

*Card Rating is predicated on the opinion of TPG’s editors and isn’t influenced by the cardboard issuer.

Savvy TPG readers know that we typically don’t suggest constructing your factors technique round a single cobranded airline bank card, as they have an inclination to supply fewer perks and fewer flexibility than a comparably priced transferable factors card.

In explicit, on the subject of the Southwest Rapid Rewards card portfolio, you’ll typically get higher incomes charges and extra versatile redemption choices with playing cards such because the Chase Sapphire Preferred Card that earn Chase Ultimate Rewards factors — which you’ll then switch to Southwest Rapid Rewards at a 1:1 price.

That mentioned, the Southwest bank cards are very talked-about amongst Southwest followers. The mid-tier model of the three private Southwest playing cards — the Southwest Rapid Rewards Premier Credit Card — has stability of perks and an annual charge that would make it worthy of a spot in your card assortment.

And the cardboard is at present providing a wholesome sign-up bonus of 75,000 factors after you spend $3,000 on qualifying purchases within the first three months of account opening. This provide ends Dec. 5, 2022.

Here’s all the things it is advisable know in regards to the Southwest Premier Card that will help you resolve if it ought to earn a spot in your pockets.

Who is that this card for?

The Southwest Rapid Rewards Premier Credit Card is right for normal Southwest flyers, as most of the perks are particular to the airline.

The Premier can be a good selection for these on the lookout for a decrease annual charge than the Southwest Rapid Rewards Priority Credit Card ($99 in comparison with $149) whereas nonetheless having fun with perks reminiscent of two annual EarlyBird check-ins, no overseas transaction charges and an anniversary bonus (6,000 factors). That mentioned, if you happen to do fly with Southwest steadily, you need to think about that the higher-tier Southwest Rapid Rewards Priority Credit Card does provide a better anniversary bonus (7,500 factors) and extra perks when flying, reminiscent of upgraded boardings.

But for extra informal Southwest flyers, the Southwest Premier Card is a superbly enough choice to complement your different journey bank cards.

Do remember the fact that all of Southwest’s cobranded playing cards are topic to Chase’s notorious 5/24 rule. If you’ve opened 5 or extra new accounts over the previous 24 months (throughout all issuers, not simply Chase), you’re prone to be denied for this card. Also, be aware that including it to your pockets will depend towards your 5/24 tally as a result of it’s a private card. If you intend to use for different Chase playing cards within the close to future, be sure that this card is well worth the slot it’s going to take up.

The Southwest Rapid Rewards Premier Credit Card is at present providing a sign-up bonus of 75,000 factors after you spend $3,000 on purchases within the first three months of account opening. Offer ends Dec. 5, 2022.

TPG values Rapid Rewards factors at 1.5 cents every, that means 75,000 factors are price as much as $1,125 alone. However, these factors (together with any you earn by spending on the cardboard) do depend towards Companion Pass qualification. As a outcome, getting the cardboard and incomes the total bonus may put you nearer to among the best perks within the frequent flyer world.

While Southwest, efficient Jan. 1, 2023, is elevating the qualifying benchmark for the Companion Pass by 10,000 factors — from 125,000 to 135,000 — cobranded bank card holders will get a ten,000-point enhance both originally of the 12 months (for current cardholders) or inside 30 days of opening an account (for brand spanking new members).

And if you wish to work towards the Companion Pass, you may need the factors to land in your account in 2023 — not 2022 — so think about not finishing the spending bonus requirement on the cardboard till then.

Keep in thoughts that you simply can’t earn a sign-up bonus on the Southwest Rapid Rewards Premier Credit Card if you happen to at present have any private Southwest card, nor are you eligible if you happen to earned a sign-up bonus on a private Southwest card prior to now 24 months.

Main perks and advantages

While you don’t anticipate an airline bank card with a $99 annual charge to return loaded with perks, there are fairly a couple of on the Southwest Rapid Rewards Premier Credit Card price mentioning. The first is the 6,000-point anniversary bonus you’ll obtain after renewing your card every year.

Although the annual charge will not be waived the primary 12 months, TPG values 6,000 Rapid Rewards factors at $90, that means that the anniversary bonus will virtually fully offset that charge yearly you maintain it.

Also, vacationers will take pleasure in two EarlyBird check-ins per 12 months with the Southwest Premier Card, which may get you on the airplane early and provide help to snag a greater seat. The card affords 25% again on inflight purchases as nicely.

You might also be serious about incomes Southwest A-List elite standing to additional improve your travels with the service. Doing so requires finishing 25 qualifying flights or incomes 35,000 tier-qualifying factors (TQPs) in a calendar 12 months. You can earn bonus TQPs by spending on the Premier card — 1,500 TQPs for each $10,000 spent per calendar 12 months.

Earning and redeeming

Most airline bank cards award bonus factors or miles for purchases instantly with the service, and that’s actually true right here, as you’ll earn 3 factors per greenback spent with Southwest once you swipe your Premier Card.

However, it additionally has another attractive bonus classes, as you’ll earn 2 factors per greenback spent on native transit and commuting purchases, web, cable and cellphone providers, and with choose streaming suppliers. You’ll then earn 1 level per greenback on all different eligible purchases.

When it’s time to make use of these rewards, among the best issues about redeeming Southwest Rapid Rewards factors is the simplicity of the method. Whether you choose the most cost effective Wanna Get Away fares or the most costly Business Select tickets, the price of your award ticket is tied to the money worth of the flight.

This means you don’t have to fret about getting the very best potential cent-per-point redemption worth. If you will have Rapid Rewards factors, it’s virtually at all times a good suggestion to redeem them for Southwest flights — together with choices to Hawaii and international locations.

Southwest additionally offers you the choice to redeem your factors for present playing cards, merchandise and experiences, though these redemption choices provide a lot decrease values.

Bear in thoughts too that Southwest permits all vacationers to examine as much as two baggage free of charge, and the service’s coverage of no change or cancellation charges means you can reprice your award ticket if the value drops. This affords priceless flexibility to get the absolute best redemption.

Read extra: How to alter or cancel a Southwest Airlines flight

Which playing cards compete with the Southwest Premier?

The most blatant rivals to the Southwest Rapid Rewards Premier are the opposite two private cobranded Southwest playing cards — the higher-end Southwest Rapid Rewards Priority and the lower-end Southwest Rapid Rewards Plus Credit Card. This competitors comes all the way down to which card affords the very best perks for you in alternate for its annual charge. If you’re struggling to choose between the three, you’ll be able to try our head-to-head comparability.

While the Southwest Rapid Rewards Plus solely prices $69 a 12 months, it has a 3% overseas transaction charge and a smaller anniversary bonus of solely 3,000 Rapid Rewards factors (price $45).

On the opposite hand, the Southwest Priority card has a $149 annual charge however features a $75 annual Southwest journey credit score. That instantly knocks the out-of-pocket value all the way down to $74 a 12 months. This would reduce the Priority card’s charge in half. On prime of that, you continue to get a 7,500-point anniversary bonus (price $112.50), 4 upgraded A1-A15 boardings (when out there), 25% again on inflight drinks and Wi-Fi and no overseas transaction charges.

Many individuals who journey on Southwest even just some occasions a 12 months might be higher off choosing the Priority card over the Southwest Rapid Rewards Premier Credit Card. After taking into consideration the journey credit score and anniversary bonus on the Priority card, you are truly popping out on prime $38.50 every year you maintain the cardboard.

Another card that provides the Premier card a run for its cash is a long-time favourite: the Chase Sapphire Preferred Card. The Sapphire Preferred affords a sign-up bonus of 60,000 bonus factors after you spend $4,000 on purchases within the first three months from account opening. Those factors are price $1,200 if you happen to switch them to Chase’s unbelievable lineup of 11 airline and three resort companions, and this checklist contains Southwest.

Many vacationers take pleasure in maintaining their rewards as flexible, transferable factors — although keep in mind that the Sapphire Preferred doesn’t confer any perks when touring on Southwest-operated flights.

Bottom line

The Southwest Rapid Rewards Premier Credit Card generally is a good possibility for frequent Southwest flyers and at present comes with an elevated welcome provide.

Even although some folks will come out forward by choosing the Southwest Rapid Rewards Priority Credit Card and the $75 annual Southwest journey credit score and anniversary bonus it carries, the Premier affords a good return with a decrease upfront value.

Official software hyperlink: Southwest Rapid Rewards Premier Credit Card

Additional reporting by Ryan Wilcox, Stella Shon and Christina Ly.