Southwest Premier Credit Card review: Reasonable value for a mid-level card
Editor's Note
Southwest Rapid Rewards Premier Credit Card overview
The Southwest Rapid Rewards? Premier Credit Card is the middle of the pack for Southwest personal credit cards. While airline credit cards generally don't have many perks, the absence of foreign transaction fees and the 6,000-anniversary bonus points should help offset this card's reasonable $99 annual fee. Card rating*: ????
*Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
Savvy TPG readers know we generally don't recommend building your points strategy around a single cobranded airline credit card, as these tend to offer fewer perks and less flexibility than a comparably-priced transferable points card.
When it comes to the Southwest Rapid Rewards card portfolio, you'll generally find better earning rates and more flexible redemption options with cards that earn Chase Ultimate Rewards points — such as the Chase Sapphire Preferred? Card — which you can then transfer to Southwest Rapid Rewards at a 1:1 rate. That said, Southwest credit cards are very popular among Southwest fans.
With a recommended credit score of 670 or higher, the mid-tier version of the three personal Southwest cards — the Southwest Premier card — has a good balance of perks and an annual fee of $99 that could make it worthy of a spot in your card collection.
Here's everything you need to know about the Southwest Premier card to help you decide whether it should be in your wallet.
The information for the Southwest Rapid Rewards Premier credit card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Southwest Rapid Rewards Premier Credit Card pros and cons
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Related: How to choose your best credit card strategy
Southwest Rapid Rewards Premier Credit Card welcome offer
New applicants for the Southwest Premier card can earn 50,000 bonus points after spending $1,000 on purchases in the first three months of account opening.
According to TPG's valuations, these points are worth up to $650 — that's excellent value for the spending requirement.
The historic high for this card's sign-up bonus was 100,000 points. The first 50,000 points were secured after $2,000 in spending within three months from account opening, while the second batch of 50,000 points required $12,000 in spending within the first 12 months of card membership. Alternatively, this card has previously offered a Companion Pass plus 30,000 bonus points after $4,000 in spending in the first three months of account opening.
That welcome offer may sound more appealing if you place a high value on Southwest's Companion Passes. It's worth noting, however, that the 50,000 points you'll get with the current welcome bonus give you a good head start toward the 135,000-point requirement for a Companion Pass.
Remember that you can't earn a sign-up bonus on the Southwest Rapid Rewards Premier Credit Card if you currently have a personal Southwest card or have earned a sign-up bonus on a personal Southwest card in the past 24 months. Also, Southwest's cobranded cards are subject to Chase's 5/24 rule. If you've opened five or more new accounts over the past 24 months (across all issuers, not just Chase), you will likely be denied this card.
Related: The ultimate guide to credit card application restrictions
Southwest Rapid Rewards Premier Credit Card benefits
While you don't expect an airline credit card with a $99 annual fee to come loaded with perks, the Southwest Premier card has several benefits.
You'll receive 6,000 bonus points on each account anniversary, which TPG values at $78. That's a significant chunk of this card's annual fee.
Also, you'll enjoy additional benefits like two EarlyBird check-ins per year with the Southwest Premier Card — helping you get on the plane early to snag a better seat — and 25% back on inflight purchases. Two complimentary EarlyBird check-ins are a nice perk since Southwest recently raised the cost of this product.
You may also be interested in earning Southwest A-List elite status to enhance your travels with the carrier. You can earn bonus Tier Qualifying Points by spending on the Premier card: 1,500 TQPs for every $5,000 spent per calendar year. There's no limit on the number of TQPs you can earn.
Related: Southwest Rapid Rewards is now offering Cash + Points redemption
Earning points on the Southwest Rapid Rewards Premier Credit Card
Most airline credit cards award bonus points or miles for purchases directly with the carrier, and that's certainly true here: You'll earn 3 points per dollar spent with Southwest on the Premier card.
However, it also has other enticing bonus categories: You'll earn 2 points per dollar spent on local transit and commuting purchases, internet, cable and phone services and with select streaming providers. You'll earn 1 point per dollar on all other eligible purchases.
According to our valuations, this amounts to a 3.9% return on spending with Southwest and a 2.6% return on spending in other bonus categories.
Related: 6 easy strategies I use to earn over 500,000 points and miles a year
Redeeming points on the Southwest Rapid Rewards Premier Credit Card
When it's time to use your rewards, one of the best things about redeeming Southwest Rapid Rewards points is the simplicity of the process. Whether you select the cheapest Wanna Get Away fares or the most expensive Business Select tickets, the cost of your award ticket is tied to the cash price of the flight.
This means you don't have to worry about getting the highest possible cent-per-point redemption value. If you have Rapid Rewards points, you can redeem them for gift cards or merchandise. Still, the best value comes from using your points for Southwest flights — including options to Hawaii and international destinations.
TPG managing editor for credit cards Matt Moffitt lives in Austin, Texas, where the airline operates almost 40% of flights. Therefore, he likes to have a stash of Rapid Rewards points to fly to places like Chicago, Los Angeles and Cancun.
Southwest regularly runs flash sales, which you can take advantage of to get a great deal booking with points.
Remember that Southwest's policy of no change or cancellation fees means you can reprice your award ticket if the price drops. This offers valuable flexibility to get the best possible redemption.
Related: How to change or cancel a Southwest Airlines flight
Which cards compete with the Southwest Rapid Rewards Premier Credit Card?
The Southwest Premier card has two obvious competitors: Chase's other Southwest credit cards. However, it's worth considering a general travel credit card with a similar annual fee to see whether that option is better for your wallet. Let's see how they stack up:
- If you want a Southwest card with more perks: The Southwest Rapid Rewards? Priority Credit Card has an annual fee of $149 but offers a $75 annual Southwest travel credit and 7,500-point anniversary bonus. It earns the same rate on Southwest flights: 3 points per dollar. For more information, read our full review of the Southwest Priority card.
- If you want a Southwest card with a lower annual fee: The Southwest Rapid Rewards? Plus Credit Card has a $69 annual fee and an anniversary bonus of 3,000 points. You'll also receive two EarlyBird check-ins every card anniversary. For more information, read our full review of the Southwest Plus card.
- If you want points you can use both with Southwest and other airlines: The Chase Sapphire Preferred Card earns Chase Ultimate Rewards points, which you can transfer 1:1 to Southwest — as well as a wide range of other airlines — for making flight redemptions. You'll get numerous travel protections, a $50 annual Chase Travel hotel credit and robust earning categories, and the card has a $95 annual fee. For more information, read our full review of the Sapphire Preferred.
For more options, check out our full list of travel credit cards.
Related: Comparing the Southwest Rapid Rewards Priority, Premier, and Plus Credit Cards
Is the Southwest Rapid Rewards Premier Credit Card worth it?
The 6,000-anniversary bonus points mostly offset the Southwest Premier card's $99 annual fee. It covers the annual fee if you value its other perks at more than $22. However, most Southwest loyalists should apply for the Priority card instead, as it offers more benefits.
Related: The best United Airlines credit cards
Bottom line
The Southwest Rapid Rewards Premier card can be a good option for semi-frequent Southwest flyers. If you fly with Southwest occasionally, this card's price point and perks could make it a good fit for your wallet without the higher price tag on other travel credit cards.