The Southwest Rapid Rewards® Premier Credit 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.
MoneyGeek’s Take
Southwest Rapid Rewards® Premier Credit Card Review
Updated: July 25, 2024
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Southwest Rapid Rewards® Premier Credit Card
Rewards Rate
Earn 3X points on Southwest® purchases. Earn 2X po...APR
21.49% - 28.49% variableAnnual Fee
$99Recommended Credit
670-850 (Good to Excellent)- The Southwest Rapid Rewards® Premier Credit Card shines when it comes to rewarding loyal Southwest customers. Imagine traveling without the hassle of foreign transaction fees and being greeted every anniversary with a bonus. You'll also get a boost in points, not just for your flights, but for daily expenses like local transit and even your video streaming sessions. Although it does come with an annual fee, and its perks are tailored mostly towards Southwest enthusiasts, the card's generous bonus offers can certainly make it a worthy companion for the frequent traveler.
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MoneyGeek’s methodology and process for the Southwest Rapid Rewards® Premier Credit 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.
Southwest Rapid Rewards® Premier Credit Card Overview
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.
>>MORE: CHASE ULTIMATE REWARDS: PROGRAM GUIDE
Quick Take
- Earn 50,000 bonus points after spending $1,000 on purchases in the first 3 months from account opening.
- Certain purchases do not earn points
- No blackout dates when booking flights with points
Important Card Details
If you are considering completing a Southwest Rapid Rewards® Premier Credit Card application, make sure you understand all of the rates and fees. Review the rewards rates, APR, penalties and transaction fees.
Regular APR
The Southwest Rapid Rewards® Premier Credit Card has a high variable APR. For purchases, Chase loans and balance transfers, the interest rate is 21.49% – 28.49%. Meanwhile, the Cash Advance APR is 29.99%. 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.
Additional Benefits
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.
- Lost luggage reimbursement: You get up to $3,000 coverage per passenger for damages to or loss of your or an immediate family member’s carry-on luggage if this is caused by the carrier.
- Baggage delay insurance: If your baggage gets delayed for over six hours due to the passenger carrier, you can get reimbursements of up to $100 per day for three days to cover essential purchases like clothing and toiletries.
- Extended warranty protection: You can get a one-year extension on U.S. manufacturer’s warranties. This applies to purchases with warranties good for three years or less.
- Purchase protection: You get coverage against damage or theft of new purchases for 120 days. The coverage is up to $500 per claim and $50,000 per account.
- Contactless payment: You can pay by tapping your card for checkouts that have the contactless symbol.
How the Southwest Rapid Rewards® Premier Credit Card Compares To Other Cards
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.
In-Depth Credit Card Comparisons:
How the Southwest Rapid Rewards® Premier Credit Card Compares
Southwest Rapid Rewards® Premier Credit Card
- Annual Fee: $99
- Foreign Transaction Fee: 0%
- Regular APR for Purchases: 21.49% to 28.49% variable
- Welcome Bonus: Earn 50,000 bonus points after spending $1,000 on purchases in the first 3 months from account opening.
- Best For: Frequent Southwest fliers looking for a basic card with no foreign transaction fees and a lot of miles-earning opportunities
World of Hyatt Credit Card
- Annual Fee: $95
- Foreign Transaction Fee: 0%
- Regular APR for Purchases: 21.49% – 28.49% variable
- Welcome Bonus: Earn up to 60,000 Bonus Points. Earn 30,000 Bonus Points after spending $3,000 in the first 3 months. Earn an additional 30,000 Bonus Points by earning 2 Bonus Points per $1 spent in the first 6 months on purchases that normally earn 1 Bonus Point, up to $15,000 spent.
- Best For: Travelers who like staying at Hyatt Hotels and Resorts
Frequently Asked Questions
What is the average credit score needed to get approved for the Southwest Rapid Rewards® Premier Credit Card?
While there is no specific information about the required credit score to get approved for Southwest Rapid Rewards® Premier Credit Card, having a good to excellent score (690 or higher) will give you the best odds.
Does the Southwest Rapid Rewards® Premier Credit Card report to all three credit bureaus?
Yes, it does.
Is the Southwest Rapid Rewards® Premier Credit Card application process lengthy? Can you prequalify?
Applying for the Southwest Rapid Rewards® Premier Credit Card can be done online and the process is relatively quick. The issuer decides if you can prequalify.
What information is needed to apply for the Southwest Rapid Rewards® Premier Credit Card?
You will need to provide your full name, date of birth, mother’s maiden name, tax ID type, Social Security number, complete address, email address, phone number, primary source of income and total gross annual income.
Does the Southwest Rapid Rewards® Premier Credit Card have good customer service or satisfaction?
Does the Southwest Rapid Rewards® Premier Credit Card have a mobile app or the option to pay or manage your account online?
Yes, you can manage your account and make payments using Chase’s mobile app or your online account.
Does the Southwest Rapid Rewards® Premier Credit Card raise credit limits automatically or charge for limit increases?
Cardholders can request for a credit limit increase by calling the hotline found on the back of the credit card. The issuer may also decide to increase your Southwest Rapid Rewards® Premier Credit Card credit limit automatically.
Does the Southwest Rapid Rewards® Premier Credit Card offer the options to freeze your credit/account or have other security features?
Yes, cardholders can lock or unlock their credit cards through their online accounts.
Does Chase offer other credit cards besides the Southwest Rapid Rewards® Premier Credit Card?
Yes, there are various Chase credit cards like the Freedom Unlimited, Southwest Rapid Rewards Premier Business, World of Hyatt Credit Card, United Business, United Club Infinite and many more.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
sources
- Chase. "Chase Credit Cards - Southwest Rapid Rewards Premier Credit Card." Accessed September 6, 2021.
- Chase. "Southwest Rapid Rewards Premier Card." Accessed September 6, 2021.
- Chase. "Southwest Rapid Rewards Premier Credit Card Pricing & Terms." Accessed September 6, 2021.
- Chase. "World of Hyatt Credit Card." Accessed September 6, 2021.
- Consumer Financial Protection Bureau. "Credit Card Agreement Database." Accessed September 6, 2021.
- J.D. Power. "2020 U.S. National Banking Satisfaction Study." Accessed September 6, 2021.
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
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Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.