Chip Lupo, Credit Card Writer
@CLoop
The Southwest Rapid Rewards® Plus Credit Card interest rate is 21.49% - 28.49% (V), with the actual rate depending on factors such as your income, credit history and existing debt. This Southwest Plus Card interest rate is variable, meaning it can change based on certain economic conditions.
The Southwest Plus Card gives you a 21-day grace period to avoid paying interest on your purchases. The grace period runs from the end of the billing period until the card’s payment due date. You won’t owe any interest as long as you pay your balance in full during that timeframe. Should you decide to carry a balance on your Southwest Plus Card, it will accumulate interest daily at the card’s regular APR. Interest is compounded, meaning you will owe interest on both the principal balance and any interest already accumulated.
In addition to the regular interest rate, Southwest Plus Card also charges a separate 29.99% (V) interest rate on cash advances and a penalty rate for late payments. All Southwest Plus Card interest rates will be listed on your statement and on your online account summary.
People also ask
How can I do a Southwest credit card balance transfer?
You can do a Southwest credit card balance transfer by making a request either online or over the phone at (800) 945-2000. Note that there is no 0% introductory APR with a Southwest credit card balance transfer. But you can earn 1 point / $1 transferred – up to $10,000 or $15,000, depending on the card.
The Southwest credit cards’ balance transfer offer is unique in that you earn rewards. Don’t let that sway you too much, though. Southwest...
read full answerWhat is the highest credit card interest rate?
The highest credit card interest rate in recent memory was 79.9% on a card offered by First Premier Bank in 2010 but that offer’s not available anymore. The current highest credit card interest rate is 36% on the First PREMIER® Bank Mastercard Credit Card.
The next highest credit card interest rate seems to be 35.99%, charged by the Total Visa® Card and the Milestone® Mastercard®. These rates are very high when you consider that the average interest rate is only around 22.39%.
... read full answerWhat is a good interest rate on a credit card?
A good interest rate on a credit card is 14% and below. That is roughly the average regular interest rate on credit cards for people with excellent credit. Even a relatively good interest rate on credit cards for people with lower scores is not all that low. For example, credit card users with good or fair credit could pay interest at an annual rate of 20%+ and still have a below-average APR. Better-than-average for a credit card overall isn’t much...
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