The
Southwest Rapid Rewards® Premier Credit Card is the best Southwest credit card for bonus rewards, offering
50,000 points after spending $1,000 in the first 3 months, plus ongoing bonus rewards on Southwest flights, groceries and dining out. It’s worth the
$149 annual fee if you earn that initial bonus and fly frequently. You also need to pay the bill in full every month to avoid expensive interest charges.
What I Like About the Southwest Premier Card
Big initial bonus = free flights
Spending at least
$1,000 within
3 months of opening the Southwest Premier Card will score you
50,000 points. That's a pretty nice initial bonus, worth around
$745 in Southwest airfare, according to our research.
Southwest flight benefits
Being a cardholder entitles you to the following perks when you fly Southwest:
- Preferred seating, when available
- Group 5 boarding
- Extra legroom upgrades, when available
- Free first checked bag
- Status/Companion Pass points
The preferred seating, early boarding and extra legroom are available to cardholders, plus up to eight additional guests traveling on the same reservation. If you fly Southwest frequently, especially in large groups, these perks could really come in handy. They could save you a lot of money and make flying more comfortable.
Solid ongoing rewards
In addition to its sizable initial bonus, this Southwest rewards card gives you 6,000 points each account anniversary and good rewards on purchases. Cardholders get
3 points per $1 spent with Southwest, 2 points per $1 spent at grocery stores and restaurants (on the first $8,000 in combined purchases per anniversary year), and 1 point per $1 on all other purchases.
Those purchase-based earning rates equate to 1.49% to 4.47% cash back, as Southwest Rapid Rewards points are worth an average of about
1.49 cents apiece. Considering the average credit card offers roughly
1.17% cash back, this Southwest Airlines card stands out across the board but mainly for Southwest bonus-category purchases.
No penalty for foreign use
If you plan on visiting any of Southwest’s international destinations (or making purchases through internationally based merchants), you’ll be glad to know that this Southwest credit card does not charge a foreign-transaction fee. Most credit cards have such a charge, unfortunately, with the average being
1.57% of each purchase, according to WalletHub’s latest
Credit Card Landscape Report.
What I Don’t Like About the Southwest Premier Card
$149 annual fee
At
$149, the Southwest Premier Credit Card’s annual fee is nearly 6 times higher than the
market average. It’s even above what some of the rewards market’s heaviest hitters charge.
You can still save a lot of money with this card when you factor in its rewards and other perks. You just need to make sure you use it enough each year to at least break even.
High interest rate
This Southwest Rapid Rewards card does not offer 0% introductory interest rates – just a high regular APR. You need to be careful to avoid that, as wasting money on interest would make it a lot harder to save, especially with this card.
Credit cards for good or excellent credit charge an average of
23.46% and 17.27%, respectively, which means you’ll be overpaying if you carry a balance from month to month with your Southwest card. So don’t.
Interest doesn’t get charged when you pay your statement balance in full by the due date. Do that instead.
Good credit required
All three Southwest Rapid Rewards credit cards require good or excellent credit for approval. So make sure to
check your credit score, and thus gauge your odds of acceptance, before applying. A score of 700 or higher should give you a good chance of getting approved.
Alternatives to the Southwest Premier Card
There are three Southwest Airlines credit cards for personal use: the
Southwest Rapid Rewards® Premier Credit Card, the
Southwest Rapid Rewards® Plus Credit Card and the
Southwest Rapid Rewards® Priority Credit Card. You can see how these Southwest cards compare to one another
here.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
