MoneyGeek's Take

Chase Southwest Rapid Rewards Premier Review

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.

Last Updated: 4/24/2022

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Reviewed By

Brett Holzhauer

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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.

Card Details to Know Up Front

Bonus, Fee or Feature
Has or Not
Has Annual Fee
Has Balance Transfer Offer
Has APR Offer
Cash Back Rewards
Travel Rewards
Hotel Benefits
Airline Benefits
Has Rewarding Welcome Offer
Has Foreign Transaction Fee
Credit Needed
Good-Excellent

Click to see this card’s rates, fees and how they compare to other cards in our dataset.

OUR REVIEW AT A GLANCE

Credit Card Details at a Glance
Pros & Cons Explained
Bonuses & Rewards Explained
Our Verdict: Is This Card for You?

Chase Southwest Rapid Rewards Premier at a Glance

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.

Chase Southwest Rapid Rewards Premier
A great miles rewards card with no foreign transaction fee for frequent Southwest customers
- Good-ExcellentCredit Needed
- $99Annual Fee
- 1–2 Points per $1*Rewards Rate
- 2xRewards Rate on Air Travel
- 1xRewards Rate on Groceries
Pros
No foreign transaction fees
Earn the Companion Pass
Bags fly free
Bonus points

Cons
$99 annual fee
High APR
Limited travel perks
40,000 bonus points awarded after you spend $3,000 in the first three months of card ownership
Certain purchases do not earn points
No blackout dates when booking flights with points
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
Terms, rates and fees apply
Compare this credit card with other top-rated cards from our partners.

Pros & Cons Explained

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.

Pros

Benefits
Description
No foreign transaction fee
Cardholders do not pay foreign transaction fees when using this card for purchases abroad, making it ideal for international travel.
Earn the Companion Pass
Flying frequently (100 qualifying one-way tickets) or earning 125,000 qualifying points in a calendar year will enable you to let one person fly with you free of airline charges, except for taxes and fees.
Bags fly free
There is no charge for the first and second checked bags as long as they are within the weight and size limits.
Bonus points
Earn bonus points as soon as you become a cardholder. You also get bonus points every year.

Cons

Drawbacks
Description
Annual fee
Cardholders have to pay $99 annually for card membership.
High APR
APR for purchases, Chase loans and balance transfers is 15.99% - 22.99%. Cash advance APR is 24.99%. Default APR for failing to make the minimum payment by the due date or returned payments is up to 29.99%
Limited travel perks
The cardholder can get free first and second checked bags and a $0 change fee. However, there are no other travel perks and luxury benefits.

LOOKING FOR THE BEST CREDIT CARDS OF 2022?

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 2022 to make sure this card is right for you.

Bonuses & Rewards Explained

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.

Welcome bonuses

Earn 40,000 points and 3x points for eligible purchases at restaurants and delivery services in the first year.

Anniversary bonus

Cardholders receive 6,000 points after every anniversary as a cardmember. The accumulated points do not expire.

Earn and redeem miles

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.

Other Features Explained

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.

Card Feature
Description
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.

MONEYGEEK EXPERT TIP

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.

Understanding the Fine Print

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.

Card Feature
Amount or Rate
APR
15.99%–22.99%
Annual Fee
$99
Cash Back Rewards
Rewards Rate
1–2 Points per $1*
Airline Benefits
Rewards Rate on Groceries
1x
Rewards Rate on Gas
1x
Rewards Rate on Dining
1x
Rewards Rate on Entertainment
1x
Rewards Rate on Online Shopping
1x
Rewards Rate on TV, Phone, Internet Services
1x
Rewards Rate on Air Travel
2x
Rewards Rate at Hotels
1x
Balance Transfer Fee
5%
Balance Transfer APR
15.99%–22.99%
Late Fees
$40.00
Cash Advance Fee
5%
Cash Advance APR
24.99%
Foreign Transaction Fee
None

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.

FINDING YOUR CARD'S RATES AND FEES

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.

Who Should & Shouldn’t Consider Chase Southwest Rapid Rewards Premier?

Other Considerations for Chase Southwest Rapid Rewards Premier

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.

Things to Consider if This Will Be Your First or Only Credit 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.

Things to Consider if This Will Be an Additional Card in Your Wallet

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.

WHY TRUST OUR REVIEWS

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.

How Chase Southwest Rapid Rewards Premier 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:

Chase Southwest Rapid Rewards Premier vs Chase Southwest Rapid Rewards Plus

Quick Comparison of Chase Southwest Rapid Rewards Premier

Chase Southwest Rapid Rewards Premier

Annual Fee: $99
Foreign Transaction Fee: 0%
Regular APR for Purchases: 15.99%-22.99%
Welcome Bonus: Earn 40,000 bonus points and 3x miles per dollar for eligible transactions within the first year
Best For: Frequent Southwest fliers looking for a basic card with no foreign transaction fees and a lot of miles-earning opportunities

Chase World of Hyatt Credit Card

Annual Fee: $95
Foreign Transaction Fee: 0%
Regular APR for Purchases: 15.99%-22.99%
Welcome Bonus: Earn up to 60,000 bonus points in the first six months (30,000 after spending $3,000 on purchases in the first three months and up to 30,000 by earning two bonus points per $1 in the first six months)
Best For: Travelers who like staying at Hyatt Hotels and Resorts

Other Helpful Decision-Making Q&As

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.

Still not sure about this card? Consider these options.

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.

Learn more about credit cards in general

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.
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