Southwest Airlines has revealed a new version of its airline credit card and it may prove to be of more value from its prior version.

The Southwest Airlines Rapid Rewards Premier credit card, issued by Chase, is the newest offering by the major airline introduces a higher tier above the Southwest Airlines Rapid Rewards Plus card.

Southwest Airlines Rapid Rewards® Premier Card Details

The Southwest Airlines Rapid Rewards Premier card will award 50,000 Bonus Points – redeemable for 2 free roundtrip flights – after your first purchase. Also as a limited-time offer, you can earn 1 point per dollar in balance transfers for up to 15,000 points when within 90 days of account opening.

  • Variable APR of 14.24% on purchases and balance transfers.
  • Get 6,000 Points every year on your Cardmember Anniversary – equal to $100 toward a Wanna Get Away Fare.
  • Earn 2 Points per $1 spent on Southwest Purchases and 1 Point per $1 spent on everything else.
  • Annual fee: $99

Points can be used to redeem on airfare, international flights, hotel accommodations, gift cards, and experiences such as cruises, spa packages, and more.

Card Analysis

At first glance, the Southwest Airlines Rapid Rewards Premier card seems virtually identical to the Plus version of the card. While many of the terms are the same, including the variable APR and points earnings structure, the annual fees and bonus points offers present different options for anyone in search of a Southwest credit card.

The annual fee on the Premier card is $99, a $30 difference from the $69 of the Plus card. But, the Premier card has double the introductory amount of bonus points at 50,000 points. The determining factor that may make the Premier card more attractive is the 6,000-point anniversary bonus.

The anniversary gift can be redeemed for up to $100 in airfare, compared to the $50 potential airfare bonus from the Plus card. The $50 difference may make it worth choosing the Premier card for $30 more in annual fees.

Additionally, the points-to-airfare conversion structure plays a role in getting the most bang for the buck:

  • Wanna Get Away: 60 points per $1
  • Anytime: 100 points per $1
  • Business Select: 120 points per $1

Obviously, the most value can be found if Premier cardholders purchased Wanna Get Away airfare as often as possible.

Did you enjoy this article? Yes No
Oops! What was wrong? Please let us know.

Ask a Question