Having a Southwest credit card is worth it for people who fly a lot with Southwest. The cheapest of the 5 current Southwest credit cards is the Southwest Rapid Rewards Plus Credit Card, which has an annual fee of $69. Just compare that to the card’s signup bonus: 40,000 points for spending $1,000 in the first 3 months. That is worth a total of up to $584, which is enough to cover more than 8 years of the annual fee. And every year you renew the card, you’ll get an extra 3,000 points as an anniversary bonus to keep it worthwhile.
If you were to use the Southwest Plus Credit Card for your daily expenses, you’d earn lots of Southwest points, too. The card gives 1 - 2 points / $1 spent. As long as you’re a frequent Southwest traveler and you pay your bill in full every month (i.e., skip the interest), you will have no issue making this credit card worth its annual fee.
Now, if you have a little more to spend on an annual fee, other Southwest credit cards might be worth more to you. The Southwest Rapid Rewards Priority Credit Card, for example has the same signup bonus - 40,000 points for spending $1,000 in the first 3 months. But the anniversary bonus increases to 7,500 points, plus a $75 Southwest credit. So if you have more traveling to do, the $149 annual fee will most likely be worth it to you.