Is the Southwest Rapid Rewards Premier card worth it? | February 2018

Review: Southwest Rapid Rewards® Premier credit card – February 2018

Get 50,000 signup bonus points and take advantage of flying Southwest.

  • Get this card if… you frequently fly Southwest Airlines and are looking for no foreign transaction fees while traveling.
  • Pick something else if… you want to redeem rewards through another airline or would like a card with free airport lounge access.
  • Excellent credit score of 720 or higher recommended.
Product NameSouthwest Rapid Rewards® Premier Business Credit Card
Balance Transfer Rate (not intro)17.24% to 24.24% variable
APR for Purchases ( Purchase Rate )17.24% to 24.24% variable
Annual fee$99
Cash Advance Rate26.24% variable
Card TypeVisa
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 20 days
Returned Payment Fee$39
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
0% of transaction value
Minimum Credit ScoreGood (700-739)
Minimum Age18 years of age
Annual fee$99
Returned Payment Fee$39
Late Payment Fee$39
Cash Advance Fee$15 or 5% of the amount of each transaction, whichever is greater

The Southwest Rapid Rewards Premier Card comes with a slightly higher fee — $99 p.a. a year — than the lower-tier Rapid Rewards Plus card. But to make up the difference, you’ll earn twice the number of bonus points on each account anniversary: 6,000 points. Another great bonus for frequent travelers: no foreign transaction fees on overseas purchases.

Like the Plus card, you’ll earn a 50,000-point signup bonus when you spend $1,000 on purchases in the first three months after opening your account. You’ll also find no blackout dates or seat restrictions, no change fees and you can fly with up to two bags for free on Southwest.

The Basics

The Southwest Rapid Rewards Premier Credit Card is designed for frequent Southwest Airlines travelers. You’ll earn 2x points on all Southwest and qualifying Rapid Rewards purchases, as well as 1x points on your everyday spending. Redeem rewards for free flights, seat reservations and more.

The Perks

If you frequently fly Southwest Airlines, you can easily make the $99 p.a. annual fee worth it.

  • Signup bonus. To qualify for the 50,000-point signup bonus, spend only $1,000 in the first three months after opening your account. Bonus points will post to your Rapid Rewards account within eight weeks.
  • Anniversary bonus. To get 6,000 bonus points on your account anniversary each year, you simply need to keep your account active.
  • Reward points. Earn 2x points on purchases made directly with Southwest Airlines, including airline tickets, in-flight amenities, vacation packages and gift card purchases, as well as at participating Rapid Rewards hotel and rental car partners. Earn 1x points on all other purchases.
  • A-List qualifying points. Earn 1,500 tier-qualifying points toward A-List and A-List Preferred status for every $10,000 spent with this card.
  • Travel benefits. When redeeming points for flight tickets, there are no blackout dates or travel restrictions. If you need to reschedule your flight, pay no change fees. Your first and second checked bags always fly for free.
  • No foreign transaction fees. Unlike the Rapid Rewards Plus card, you’ll pay no fees on overseas spending with this one.

What to watch out for

  • Annual fee. If you’re not a frequent flyer with Southwest Airlines, paying $99 p.a. each year might not be worth it.
  • No intro APR. Prepare to pay interest on all outstanding balances from the first billing cycle.
  • No airport lounge access. Unlike several other airline frequent flyer credit cards, the Southwest Rapid Rewards Premier card offers no airport lounge access.

Compare rewards credit cards

Rates last updated February 23rd, 2018
Name Product APR for Purchases ( Purchase Rate ) Intro APR for Balance Transfer Annual fee Product Description
Southwest Rapid Rewards® Plus Credit Card
17.24% to 24.24% variable
$69
Earn 2x points on Southwest® purchases and points on all other purchases. Plus 3,000 anniversary bonus points.
Southwest Rapid Rewards® Premier Business Credit Card
17.24% to 24.24% variable
$99
Earn 2x points on Southwest® purchases and points on all other purchases. Plus 6,000 anniversary bonus points.
United MileagePlus® Club card
17.24% to 24.24% variable
$450
Enjoy United Club membership, Premier Access® travel services, free checked bags, plus earn miles on every purchase.
United MileagePlus® Explorer Business card
17.24% to 24.24% variable
$0 annual fee for the first year ($95 thereafter)
50000 bonus miles after you spend $3,000 on purchases in the first 3 months your account is open.
United MileagePlus® Explorer card
17.24% to 24.24% variable
$0 annual fee for the first year ($95 thereafter)
40000 bonus miles after you spend $2,000 on purchases in the first 3 months from account opening.
Marriott Rewards® Premier Business credit card
17.24% to 24.24% variable
$99
75000 Bonus points after you spend $3,000 on purchases in your first 3 months from your account opening with your Marriott Rewards Premier Business credit card.
Marriott Rewards® Premier credit card
17.24% to 24.24% variable
$85
80000 bonus points after you spend $3,000 on purchases in your first 3 months from your account opening with your Marriott Rewards Premier credit card.
The Hyatt Credit Card
17.24% to 24.24% variable
$75
Get 40000 Bonus Points after spending $2,000 on purchases with the Hyatt Credit Card in the first 3 months from account opening.
British Airways Visa Signature® card
17.24% to 24.24% variable
$95
Earn Avios on every purchase and 3 Avios per $1 on British Airways purchases.
Disney® Visa® Card
17.24% variable
$0
Earn 1% in Disney Rewards Dollars on all card purchases.
Disney® Premier Visa® Card
17.24% variable
$49
Earn a $200 statement credit after you spend $500 on purchases in the first 3 months from account opening.
The Ritz-Carlton Rewards® Credit Card
17.24% to 24.24% variable
$450
2 complimentary nights at any participating Tier 1-4 Ritz-Carlton hotel, after you spend $4,000 on purchases in the first 3 months after account opening.
The Chase Freedom® Unlimited™ credit card
16.24% to 24.99% variable
0% Intro APR for first 15 billing cycles (with whichever is greater, $5 or 5% balance transfer fee)
$0
Earn unlimited 1.5% cash back on every purchase – it's automatic. No minimum to redeem for cash back.
Chase Freedom® credit card
16.24% to 24.99% variable
0% Intro APR for first 15 billing cycles (with whichever is greater, $5 or 5% balance transfer fee)
$0
Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate and unlimited 1% cash back on all other purchases.
Chase Sapphire Reserve
17.24% to 24.24% variable
$450
Earn 50000 BONUS POINTS after spending $4,000 on purchases in the first 3 months from account opening* — that's $750 toward travel when you redeem through Chase Ultimate Rewards®.
Chase Sapphire Preferred® credit card
17.24% to 24.24% variable
$0 annual fee for the first year ($95 thereafter)
Earn 2X points on travel and dining at restaurants.
Chase Slate® credit card
16.24% to 24.99% variable
0% Intro APR for First 15 billing cycles (with $0 for transfers in first 60 days. Then $5 or 5% balance transfer fee)
$0
Jumpstart your financial fitness! 60 day introductory balance transfer offer, save on interest, and get your free monthly credit score.

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What you should know before applying

Submit an application for the Southwest Rapid Rewards Premier card if:

  • You’re at least 18 years of age.
  • You’re a US citizen or permanent resident.
  • You have a valid Social Security number.

Always consider your options and your financial situation before you apply for a credit card.

What credit score should I have?

An excellent credit score of 720 or higher will increase the chances of your application’s approval.

How do I apply for the Southwest Rapid Rewards Premier Credit Card?

To apply for the Southwest Rapid Rewards® Premier Business Credit Card, you’ll need to provide personal and financial details that include:

  • Your full name and contact information
  • Your Social Security number and date of birth
  • Your gross annual income and monthly rent payment
  • An existing Rapid Rewards number, if you have one

1. Go to the Southwest Rapid Rewards Premier Credit Card website and click Apply Now.

southwest premier

2. Complete the application with your personal and financial information, review your details and submit.

step 2 Southwest Rapid Rewards Premier Credit Card

How long will it take for me to be approved?

Chase will inform you of your application’s status almost as soon as you submit it online. It also typically sends a letter with the information you need in 7 to 10 business days.

I got the card. Now what?

Make the most of this card by flying Southwest, but don’t let watchfulness take a back seat.

  • Monitor account activity. Use Chase bank’s online banking platform to keep a track of your spending and payments 24/7.
  • Redeem points. Points earned are automatically transferred to your Rapid Rewards account at the end of each billing cycle. Redeem your points for any seat on any flight, subject to availability. Transferring rewards points to another Rapid Rewards member is also an option.
  • Avoid interest. Pay off your outstanding balance in full before each due date to avoid paying interest. Remember that cash advances attract interest from the day of the transaction.
  • Avoid penalties. Late payment and returned check fees can go up to $39.00.
  • Contact customer service. If you have questions, contact Chase card services at 800-792-0001, on Twitter at @ChaseSupport or log in to your account to send a secure email.

Bottom line

You can get a lot out of the Southwest Rapid Rewards Premium card if you frequently fly with this airline and want to ramp up your rewards through everyday spending. If you’re looking for a card that offers more options in redeeming rewards, compare other credit cards out there.

Common questions about the Southwest Rapid Rewards Premier Credit Card

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