Southwest Airlines Rapid Rewards® Premier Credit Card Review | CreditShout

Southwest Airlines Rapid Rewards® Premier Credit Card Review

By Kevin / April 7, 2015
Southwest Airlines Rapid Rewards Review

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Southwest Airlines Rapid Rewards Premier Credit Card

In depth analysis of Rapid Rewards Credit Card

CreditShout Rating

Annual Fee: $99 (Waived 1st Year)

Credit Needed: Excellent

Rewards Program and Signup Bonuses*:

  • Earn 25,000 points after you spend $1,000 on purchases in the first 3 months your account is open
  • Chip-enabled cards with 24/7 fraud monitoring
  • Points Don't Expire, No Blackout Dates, Bags Fly Free®
  • 6,000 points after your Cardmember Anniversary every year
  • 2 points/$1 spent on Southwest Airlines® purchases and participating Hotel and Car Rental partners1 point/$1 spent on all other purchases
  • $0 introductory annual fee, then $99/year

Intro APR

N/A

Intro Balance Transfer

N/A

Regular APR

16.24% Variable on Purchases and Transfers

Verdict

A great card for consumers that fly frequently with Southwest Airlines. Earn reward points on every purchase, with double points at Southwest Airlines and certain hotels and rental car services.

Overview

The rewards you earn with your Southwest Airlines Rapid Rewards® Plus Credit Card can be traded in for fully transferrable roundtrip tickets to any of 64 Southwest locations, including Las Vegas, Orlando, and the new New York location. With a low APR and annual fee, this card makes sense for people that fly with Southwest Airlines.

How This Card Works

The Southwest Airlines card earns reward dollars on every purchase, with double points earned on certain things, such as Southwest Airline flights and certain hotels and rental serices. 1,200 reward dollars is equal to 1 rapid reward credit. 16 credits within 2 years is good for one roundtrip flight. You also receive up to 16 reward credits during your first 90 days when you use your Southwest card for the first time and make balance transfers.

This card is good anywhere Visa is accepted and comes with lost luggage insurance, auto car insurance, travel accident insurance, and emergency cash and card replacement.

Shopping and Travel Benefits

You earn 8 Rapid Rewards credits the first time you use your Southwest Airlines card and up to 8 additional credits with balance transfers during the first 90 days. This is enough credit for a roundtrip ticket to any of 64 Southwest destinations, including Las Vegas and Orlando.

You also receive 1 Reward Dollar for every $1 you spend on anything, with bonus Reward Dollars earned on Southwest flights, vacation packages, Southwest Gift cards, and certain hotels and rental car services partnered with Southwest.

1,200 Reward Dollars is equal to 1 Rapid Reward credit. 16 credits within 24 months is enough for one fully transferrable roundtrip flight.

You'll also automatically receive 2 Rapid Reward credits every year on your cardmember anniversary.

Your Southwest Airline card also gives you the protection of emergency cash and card replacement, travel accident insurance, auto car coverage, lost luggage insurance, and lost/stolen card reporting.

If you qualify for the Visa Signature you also get access to exclusive events and concerts, discounts and hotel upgrades, last minute dinner reservations, 24 hour personal assistance, and no pre-set spending limit.

If you want to learn more about the Rapid Rewards program, check out this article.

Fees

The variable APR for purchases is 16.24%, with a default APR of 29.99%. For balance transfers, a variable rate of 16.24% applies; for cash advances, 19.24%. The overdraft APR for the Southwest Airlines card is 19.24% as well.

The grace period for this credit card is 20 days.

An annual fee of $99 is charged every year after he first year.

The transaction fee for balance transfers is 3%, a minimum of $5. For cash advances, a transaction fee of 3% also applies, with a minimum fee of $10.

The Bottom Line

Hey, if you are not won over, check out our Guide to Airline Miles and Travel Rewards Credit Cards for some alternative solutions. But, if you are a committed Southwest customer and can justify the annual fee, this card is pretty sweet.

Pros:

  • Earn fully transferrable roundtrip tickets
  • 64 Southwest locations
  • Low APR
  • Low annual fee
  • Travel insurance

Cons:

  • Very high default rate
The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone. Additionally, the opinions of the commenters are not necessarily the opinions of this site

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