Southwest Premier Card Review: Useful Benefits at an Affordable Price
Review
Updated
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The Southwest Rapid Rewards® Premier Credit Card makes it easy to collect points, with a sign-up bonus and bonus points every year. However, there is a $99 annual fee, and this card doesn't offer many travel perks. Check out our full Southwest Rapid Rewards® Premier Credit Card review to see if you should apply or look for other credit cards.
Great for: Frequent Southwest travelers
Good/Excellent (670-850)
Intro APR N/A
Purchases: N/A
Balance Transfers: N/A
Regular APR
20.49% - 27.49% Variable
Rewards Receive 6,000 anniversary points each year. Enjoy benefits including 3X points on Southwest® purchases, 2X points on local transit and commuting, including rideshare, 2X points on internet, cable, and phone services; select streaming, 2 Early Bird Check-In® each year, 10,000 Companion Pass® qualifying points boost each year, and more.
Earn 3X points on Southwest® purchases. Earn 2X points on Rapid Rewards® hotel and car rental partners. Earn 2X points on local transit and commuting, including rideshare. Earn 2X points on internet, cable, and phone services; select streaming. Earn 1X points on all other purchases.
Annual Fee
$99
Welcome Offer Earn Companion Pass® plus 30,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening.
Earn Companion Pass® plus 30,000 points.
The sign-up bonus and premium earnings on Southwest travel make this a compelling offer, even with the modest annual fee.
We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.
| Offer | Our Rating | Welcome Offer | Rewards Program | APR | Learn More |
|---|---|---|---|---|---|
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Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Discover will match all the cash back you’ve earned at the end of your first year. | 1% - 5% Cashback Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases. |
Intro: Purchases: 0%, 15 months Balance Transfers: 0%, 15 months Regular: 18.24% - 27.24% Variable APR |
|
|
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
$200 cash rewards Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. | 2% cash rewards Earn unlimited 2% cash rewards on purchases. |
Intro: 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers Purchases: 0% intro APR, 12 months from account opening Balance Transfers: 0% intro APR, 12 months from account opening on qualifying balance transfers Regular: 19.24%, 24.24%, or 29.24% Variable APR |
|
Apply Now for Bank of America® Travel Rewards credit card
On Bank of America's Secure Website. |
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
25,000 points 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases | 1.5-3 points per dollar Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees, and your points don't expire as long as your account remains open. Earn 3 points per $1 spent on travel purchases booked through the Bank of America Travel Center. |
Intro: 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.24% - 28.24% Variable APR on purchases and balance transfers will apply. A 3% fee for 60 days from account opening, then 4% fee applies to all balance transfers. Balance transfers may not be used to pay any account provided by Bank of America. Purchases: 0% Intro APR for 15 billing cycles for purchases Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days Regular: 18.24% - 28.24% (Variable) |
Apply Now for Bank of America® Travel Rewards credit card
On Bank of America's Secure Website. |
This credit card is a good fit for: People who regularly travel with Southwest and want an airline credit card that doesn't break the bank.
Here's more on each of the benefits offered by the Southwest Rapid Rewards® Premier Credit Card.
Earn Companion Pass® plus 30,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening. It's not the biggest sign-up bonus we've seen, but it's enough to cover one or more Southwest flights.
You'll get an additional 6,000 points every year after your cardmember anniversary. We've calculated that Southwest points have a value of about $0.014 to $0.018 per point. Using that valuation, 6,000 bonus points are worth about $84 to $108.
Here's how much the Southwest Rapid Rewards® Premier Credit Card earns:
There are rewards credit cards that offer more bonus points, but this Southwest card has a reasonable rewards rate for what it costs.
A-List status with Southwest gets you perks like priority boarding and check-in as well as point bonuses. You can achieve A-List status by earning at least 35,000 tier qualifying points (TQPs) in a calendar year. For every $10,000 you spend with the Southwest Rapid Rewards® Premier Credit Card, you'll earn 1,500 TQPs, and there's no limit to how many you can earn this way.
The companion pass is one reason for Southwest's loyal followers. If you can fly 100 qualifying one-way flights or earn 125,000 qualifying points in a calendar year, you'll get the companion pass for the rest of the year and the full following calendar year. This allows you to take a pre-selected companion with you for free on every Southwest flight you purchase with dollars or miles. The sign-up bonus you get with the Southwest Rapid Rewards® Premier Credit Card, and all the other points you can earn along the way, qualify toward the companion pass.
You get automatically reimbursed for up to two Early Bird Check-In services you buy with your Southwest card per account anniversary year. As the name suggests, these allow you to check in early and board sooner. That's a valuable perk with Southwest, since you select your seat when you board.
When you use this airline credit card to pay for in-flight drinks or wifi, you get 25% back as a statement on your credit card bill. The statement will show up within one to two billing cycles.
This card also has a couple notable issues potential applicants should know about.
There's a $99 annual fee to have the Southwest Rapid Rewards® Premier Credit Card. Whenever a card has an annual fee, it's important to consider whether you'll get your money's worth.
Fortunately, that's easy enough with this Southwest card. The yearly bonus of 6,000 points already gets you close to breaking even. If you use your card and fly with Southwest regularly, you should come out ahead.Just make sure you also look at more credit card reviews to see if there are any alternatives that could offer more value.
While other travel credit cards offer benefits like airport lounge access and reimbursements for TSA PreCheck or Global Entry, the Southwest Rapid Rewards® Premier Credit Card doesn't offer many high-end perks. That being said, it has a lower annual fee than many of those premium travel credit cards.
Read more: Best Travel Rewards Credit Cards
Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.
We recommend you have a good credit score, which means a FICO® Score of 670 or above, when applying for the Southwest Rapid Rewards® Premier Credit Card. This gives you a great chance of approval.
This is a co-branded credit card between Southwest and Chase. As such, it's subject to Chase's 5/24 rule. This rule prevents consumers who have opened five or more cards in the past 24 months from getting a Chase credit card. Make sure you haven't opened that many cards so you don't get an instant denial.
LEARN MORE: A Guide to Chase's 5/24 Rule
You fly with Southwest at least two or three times per year and you prefer a credit card with a reasonable annual fee over a pricier one with more travel benefits.
The Southwest Rapid Rewards® Premier Credit Card doesn't have a huge list of features, but it has everything you need to save money with Southwest. The annual fee also makes it one of the more affordable travel card options. Just make sure to take your time comparing credit cards across Southwest's lineup. They each have different perks and annual fees, so you'll maximize your savings by choosing the one that fits you best.
At Motley Fool Money, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.
We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how Motley Fool Money rates credit cards.
The minimum starting credit limit for this card is $2,000. It's possible to get a larger limit depending on your creditworthiness, as some cardholders report credit limits of over $25,000.
No, you can't have two Southwest Rapid Rewards® Premier Credit Cards. You can only apply for the card if you don't currently have any personal Southwest Rapid Rewards® credit cards.
Yes, you can use this card internationally, and it doesn't charge a foreign transaction fee.
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