The Chase Southwest Rapid Rewards Premier card is an ideal option for frequent Southwest fliers looking for good bonus points, extra rewards and no transaction fee. However, potential applicants will want to be aware of the annual fee as they consider this card.
The Chase Southwest Rapid Rewards Premier card benefits individuals who frequently travel on Southwest Airlines and who are looking to earn points for doing so. It is a basic card with an annual fee of $99 and no transaction fee. The card also lets you earn the coveted Companion Pass and allows your bags to fly for free.
When looking for the best airline credit card, consider your needs as a cardholder. For a basic card that allows you to collect rewards as you use it, the Chase Southwest Rapid Rewards Premier card’s benefits may be right for you. There are many ways to earn miles using this card. These include making eligible purchases at restaurants, Southwest Airlines, car rental, hotels and eligible delivery services. It is also a good tool for international purchases as it does not have foreign transaction fees.
A great miles rewards card with no foreign transaction fee for frequent Southwest customers
While Chase Southwest Rapid Rewards Premier offers benefits, it also has potential drawbacks. Weigh the pros and cons to determine if this credit card is a good option for you.
For some travelers, this credit card is a great option. But MoneyGeek’s review of the Chase Southwest Rapid Rewards card shows that it may not be for everyone. You may want to review the best travel credit cards for 2021 to make sure this card is right for you.
The Southwest Rapid Rewards Premier card also offers various bonuses and rewards. Cardholders can enjoy welcome bonuses, anniversary points and earn miles that can be redeemed for purchases.
Earn 40,000 points and 3x points for eligible purchases at restaurants and delivery services in the first year.
Cardholders receive 6,000 points after every anniversary as a cardmember. The accumulated points do not expire.
You can earn 2x miles for Southwest purchases, at hotels and car rental partners. Other eligible purchases will give you 1x mile per dollar. You can redeem your points for Southwest Airlines flights, hotel stays, car rentals, gift cards and merchandise.
There are additional features that the Chase Southwest Rapid Rewards Premier credit card offers that could be suitable for your needs. While this credit card has limited travel perks, it does offer other perks that may interest you.
You can earn 20,000 bonus points for every friend who gets any Southwest Rapid Rewards credit card. Send your referral link to your friend and make sure they use it to apply. The maximum you can earn per year through referrals is 100,000 points.
If you are considering completing a Chase Southwest Rapid Rewards Premier application, make sure you understand all of the rates and fees. Review the rewards rates, APR, penalties and transaction fees.
Regular APR
The Chase Southwest Rapid Rewards Premier card has a high variable APR. For purchases, Chase loans and balance transfers, the interest rate is 15.99% - 22.99%. Meanwhile, the Cash Advance APR is 24.99%. The default APR for failure to make the minimum payment by the due date as well as returned payments is up to 29.99%.
Annual Fee
The annual membership fee is $99.
Miles Rewards Rate
The rates to earn miles depends on the transaction. For the first year, cardholders can get 3x miles per dollar spent at eligible restaurants and delivery services. Regular rewards rates are 2x miles at Southwest Airlines, hotels and car rental partners as well as 1x miles on other eligible purchases.
Foreign Transaction Fee
This card has no foreign transaction fee.
Balance Transfer Fees
Balance transfers cost either $5 or 5%, whichever is greater.
Cash Advance Fees
Cash advances have a fee of either $10 or 5% per transaction, whichever amount is higher.
Late Fees
Late and return payments have corresponding penalty fees of up to $40.
Each credit card has different features, fees and rates. Check the fine print and compare your options. If you already own a credit card, you can check your latest billing statement, online account or mobile app to learn more about what it has to offer. You can also find the pricing, terms and conditions on the card issuer’s website. Another option is to visit the Consumer Financial Protection Bureau’s website and search for specific banks and credit cards using the credit card agreement database.
Another thing you should consider when looking for the best credit card is how you plan on using it. You should decide whether you will be using the Southwest Rapid Rewards Premier as your first or only card or if it will function as an additional card.
If you plan on using the Chase Southwest Rapid Rewards Premier as your first or sole credit card, be mindful of your purchases. Using it on eligible purchases will help you earn miles. It is also a great tool for international purchases because of its 0% foreign transaction fee.
However, make sure that you can pay your monthly bills since this credit card has a high APR. That means you will have high interest rates if you do not pay your monthly bills in full by the due date.
Before getting a Chase Southwest Rapid Rewards Premier as an additional card, figure out what expenses you can use it for. Consider the rewards and fees of your other credit cards. If your other credit card has high foreign transaction fees, you may want to use the Southwest Rapid Rewards Premier card for your international purchases. You may also want to use this credit card to earn miles when making purchases at restaurants, hotels, car rentals and Southwest Airlines.
MoneyGeek’s methodology and process for the Chase Southwest Rapid Rewards Premier card review includes the gathering of information from the Consumer Finance Bureau’s database and the credit card issuers to ensure accuracy. In evaluating the credit cards, MoneyGeek used standardized points based on fees, bonuses and rewards. This process is repeated regularly as details and offers change.
This credit card is an ideal option for frequent travelers looking for a basic card. You can earn miles through various transactions, which you can use to pay for flights, get gift cards and buy merchandise. You can also enjoy 0% foreign transaction fees. However, it has a higher APR, annual fee and fewer travel perks than other similar credit cards.
Chase Southwest Rapid Rewards Premier
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Learn more about the Chase Southwest Rapid Rewards Premier credit card with the help of the answers to some of the most commonly asked questions.
There are many factors to consider when deciding which credit card is best for you. Make sure you understand all features, fees, rates, offers and rewards. Shop around and compare credit cards based on your needs. If you are not looking for a miles credit card, consider a business credit card. If you are a student, check out MoneyGeek’s selection of the best credit cards for students.
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