Are you a frequent flyer with Southwest Airlines? If so, you may be interested in the Southwest Rapid Rewards Premier Credit Card. In this article, we’ll review the key features of this card and help you determine if it’s the right choice for you.
What You Need to Know About the Southwest Rapid Rewards Premier Credit Card
The Southwest Rapid Rewards Premier Credit Card is one of three personal credit cards offered by Southwest in partnership with Chase. It offers a range of benefits and perks, but it’s important to compare it with other options before making your decision.
TIME’s Take on the Southwest Rapid Rewards Premier Credit Card
With an attractive welcome offer, anniversary bonus, and 3x points on Southwest purchases, the Southwest Rapid Rewards Premier Credit Card offers excellent value for a competitive annual fee. However, it’s essential to consider the limited flexibility of its points and the fact that the annual fee is not waived for the first year. While some customers may find the perks appealing, frequent Southwest passengers may benefit more from upgrading to a higher-tier card.
Pros & Cons of the Southwest Rapid Rewards Premier Credit Card
Let’s take a closer look at the pros and cons of the Southwest Rapid Rewards Premier Credit Card:
Pros:
- Includes an anniversary bonus.
- Offers bonus points on select non-travel purchases, such as streaming.
- Eligible for a welcome offer.
Cons:
- Points cannot be combined with other Chase cards.
- The annual fee is not waived for the first year.
- Limited additional perks.
Who Should Consider the Southwest Rapid Rewards Premier Credit Card?
The Southwest Rapid Rewards Premier Credit Card is an excellent choice for individuals who fly with Southwest a few times per year. It offers perks that can make your trips more affordable and convenient, such as a 6,000-point anniversary bonus. If you frequently purchase in-flight items like drinks or Wi-Fi, this card provides a 25% statement credit on those purchases. Additionally, it offers two EarlyBird check-ins per year, allowing for early check-in before the 24-hour window.
Keep in mind that membership to the Southwest Rapid Rewards program is required for this card. If you’re not already a member, you’ll be automatically enrolled if you apply and get approved.
Features of the Southwest Rapid Rewards Premier Credit Card
While the Southwest Rapid Rewards Premier Credit Card may not have an extensive list of features, it does offer some benefits for regular Southwest customers. Here are a few highlights:
Easy-to-earn Welcome Offer
The card currently offers a welcome offer of 50,000 points after spending $1,000 on purchases in the first three months. This spending threshold is relatively low, making it easy to earn the welcome offer.
Anniversary Bonus Points
As a cardholder, you’ll receive a bonus of 6,000 points each year on your card’s anniversary. There are no minimum spending requirements for this bonus.
Earn A-List Status and Companion Pass Faster
With this card, you can earn 1,500 tier-qualifying points (TQPs) for every $10,000 you spend on purchases annually. TQPs count towards earning A-List or A-List Preferred status, and there’s no limit to the number of TQPs you can earn in a year. Additionally, the card offers one boost of 10,000 Companion Pass qualifying points each calendar year. All points earned with this card count towards Companion Pass status, including the 50,000-point welcome offer.
APR Considerations
It’s important to note that the purchase APR for this card is set at a specific rate. To avoid accruing high interest charges, it’s best to pay your bill in full every month.
The Fine Print: Fees and Hidden Perks
Here are some essential details about the Southwest Rapid Rewards Premier Credit Card:
- Regular purchase APR: Insert APR rate and type.
- Balance transfer APR: Insert balance transfer rate.
- Cash advance APR: Insert cash advance APR rate.
- Penalty APR: 29.99%.
- Annual fee: Insert annual fee amount.
- Late fee: Insert late payment fee amount.
- Returned payment fee: Up to $40.
In addition to the fees, the card also includes a few hidden perks that can enhance your travel experience, such as lost luggage reimbursement, baggage delay insurance, purchase protection, extended warranty, and no foreign transaction fees.
What Could Be Improved
While the Southwest Rapid Rewards Premier Credit Card offers attractive benefits, there are a few areas for improvement. For instance, it does not waive the annual fee in the first year, unlike some other cards in its category. Additionally, the inability to combine points with other Chase programs limits redemption options. Lastly, although the card provides a 6,000-point anniversary bonus, it does not include an annual travel credit like some other cards.
Alternatives to the Southwest Rapid Rewards Premier Credit Card
If the Southwest Rapid Rewards Premier Credit Card doesn’t meet your needs, consider these alternatives:
- Southwest Rapid Rewards Plus Credit Card: Offers a lower annual fee than the Premier version.
- Southwest Rapid Rewards Priority Credit Card: Includes a higher annual fee but provides additional perks such as an annual travel credit.
It’s also worth comparing the Southwest cards to the Chase Sapphire Preferred Card, which offers better bonus rates on everyday spending and more versatile redemptions through Chase Ultimate Rewards.
TIME Stamp: Attractive Perks for Occasional Flyers on Southwest Airlines
The Southwest Rapid Rewards Premier Credit Card offers attractive perks for occasional Southwest customers. With features like an anniversary point bonus, EarlyBird check-ins, and boosts toward earning A-List status and the Companion Pass, this card provides significant value. However, for frequent Southwest passengers, other cards may offer better benefits considering the annual fee is not waived in the first year. While the Southwest Rapid Rewards Premier Credit Card is not a bad option, there are alternatives that may better suit your needs.
Note: The content above is for informational purposes only and does not constitute financial advice. Please consult with a professional advisor or conduct thorough research before making any financial decisions.
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