The
Southwest Rapid Rewards® Plus Credit Card is worth getting because it offers the same big initial rewards bonus as the other Southwest cards for personal use but charges a lower annual fee (
$99). You could easily save $1,000 with this card over the first two years, according to our calculations, but you have to avoid interest charges by always paying the monthly bill in full. In addition, you need a good or excellent credit score of 700 or higher to have a good chance of being approved.
What I Like About the Southwest Plus Card
Valuable Initial Bonus
New cardholders who spend
$3,000 within
3 months of opening a Southwest Plus Card account earn a
85,000 points. The bonus points are worth roughly
$1,266.5 in Southwest airfare, according to our calculations.
1 - 2 points per $1 spent on purchases
Cardholders earn
2 points per $1 spent on Southwest Airlines® purchases, 2 points per $1 spent at gas stations and grocery stores (on the first $5,000 in combined purchases per anniversary year), and 1 point per $1 on all other purchases. Southwest Rapid Rewards points are worth
1.49 cents per point, on average, according to WalletHub research. That means the Plus Card’s regular rewards rates equal roughly 1.49% - 2.49% cash back, when redeemed for Southwest airfare.
Anniversary bonus and first checked bag free
Cardholders get a 3,000-point bonus after each account anniversary, as well as the first checked bag free for them and up to 8 additional passengers in the same reservation.
Those things can be helpful, but they certainly won’t wow you. Secondary benefits are where the Plus Card is really lacking compared to the other Southwest credit card offers.
Referral bonus
If you happen to apply for the Southwest Plus Card and love it, you could get a referral bonus by sharing the joy. Chase’s Refer-A-Friend program gives Southwest credit card users 20,000 bonus points for each person they refer who gets approved for an account, up to a limit of 100,000 bonus points per year.
What I Don’t Like About the Southwest Plus Card
$99 annual fee
The Southwest Plus Card’s
$99 annual fee is well above the average credit card membership fee of roughly
$26.75. But it’s a discount compared to what Southwest credit cards typically charge.
19.74% - 28.24% (V) interest rate
The Southwest Rapid Rewards Plus Card was not built for carrying a balance from month to month, at least not inexpensively. For context, the average credit card offer has an APR of
22.76%, and many
credit cards with 0% introductory APRs are available to people with good or excellent credit right now.
Good credit required (700+ credit score recommended)
For a better sense of whether or not you’ll make the cut,
check your latest credit score for free right here on WalletHub.
Alternatives to the Southwest Plus Card
The
Southwest Rapid Rewards® Plus Credit Card is not the only Southwest Airlines credit card available right now. You should also consider the
Southwest Rapid Rewards® Premier Credit Card and the
Southwest Rapid Rewards® Priority Credit Card.
You can learn more about how the Southwest Rapid Rewards Plus Card compares to the Premier and Priority versions from our complete
review of the latest Southwest credit card offers.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
