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.

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