Southwest Premier Credit Card Review: Good Value at Low Cost

Editor’s Note: This post has been updated with new information.

The Southwest Express Rewards Premium Credit Card is the middle of the pack when it comes to Southwest’s personal credit cards. While airline credit cards don’t usually have too many perks, the lack of foreign transaction fees and the 6,000th anniversary bonus points help offset the card’s reasonable $99 annual fee. . Tag Reviews *:

* Card Ratings are based on the opinions of TPG editors and are not influenced by the card issuer.

Savvy readers of TPG know that we generally don’t recommend building your points strategy around a single brand. airline credit cardas they tend to offer fewer perks and less flexibility than the relative price transferable scorecard.

Especially when it comes to Southwest Rapid Rewards Card Catalogin general you will get better rate of earnings and more flexible redemption options with cards like Chase Sapphire Preferred Card earn Chase the ultimate reward points – you can then switch to Southwest Quick Rewards at 1:1.

That said, the Southwest credit card is very popular among Southwest fans. Intermediate version of three individual Southwest cards – Southwest Express Rewards Premium Credit Card – having a good balance of perks and annual fees can make it worthy of a spot in your card collection.

And the card currently offers a healthy sign-up bonus of 75,000 points after you spend $3,000 on qualifying purchases in the first three months of account opening. This offer ends on December 5, 2022.

Here’s everything you need to know about the Southwest Premier Card to help you decide if it should earn a place in your wallet.

Who is this card for?

The Southwest Express Rewards Premium Credit Card ideal for frequent Southwest passengers, as many of the perks are exclusive to the airline.

Premier is also a good option for those looking for a lower annual fee Southwest Express Rewards Priority Credit Card ($99 vs. $149) while still enjoying the same perks as two yearly Sign up for EarlyBird, No foreign transaction fees and a commemorative bonus (6,000 points). That said, if you fly with Southwest often, you should consider that higher class Southwest Express Rewards Priority Credit Card offers higher anniversary rewards (7,500 points) and more perks when flying, such as Upgraded boarding house.

But for the more casual Southwest fliers, Southwest Premier Card is a perfect choice to supplement your other travel credit cards.

Remember that all Southwest co-branded cards are subject to Chase’s the infamous 5/24 rule. If you’ve opened five or more new accounts in the last 24 months (across all issuers, not just Chase), you may be denied for this card. Also, be aware that adding it to your wallet will count towards 5/24 of your tally since it’s a personal card. If you plan to sign up for other Chase cards in the near future, make sure this one worthy of the place it will take.

Related: Compare Southwest, Premier and Plus Express Rewards Priority Credit Cards

Signup Bonus

The Southwest Express Rewards Premium Credit Card is currently offering a 75,000 point signup bonus after you spend $3,000 on purchases in the first three months of account opening. Offer ends on December 5, 2022.

TPG pricing rewards points Quickly at 1.5 cents per point, which means that 75,000 points are worth up to $1,125 alone. However, these points (along with any points you earn by spending on the card) count towards Certificate of Companion Pass. Thus, getting the card and earning the full bonus can bring you closer to one of the best perks in the frequent flyer world.

While Southwest, effective January 1, 2023, is raising the eligibility benchmark for its Companion Pass by 10,000 points – from 125,000 to 135,000 – co-branded credit cardholders will get a 10,000-point increase early in the year. (for existing cardholders) or within 30 days from the date of account opening (for new members).

And if you want to work towards the Companion Card, you’ll want to target your account in 2023 – not 2022 – so consider not completing the spend bonus requirement on the card for theretofore.

Remember that you can’t earn signup bonus on the Southwest Rapid Rewards Premier Credit Card if you currently have any personal Southwest cards, nor are you eligible if you have earned a reward for signing up on a personal Southwest card in the past 24 months.

Related: The ultimate guide to credit card app restrictions

While you wouldn’t expect an airline credit card with a $99 annual fee to be packed with perks, there are quite a few. Southwest Express Rewards Premium Credit Card worth mentioning. The first is the 6,000-point anniversary bonus you’ll get after renewing your card each year.

Although the annual fee is not waived for the first year, TPG pricing 6,000 Express Rewards points for $90which means the anniversary bonus will almost completely offset that fee each year you hold.

In addition, visitors will enjoy two Sign up for EarlyBird each year with the Southwest Premier Pass, which can get you on your plane early and get you a better seat. The card is also 25% refundable on in-flight purchases.

You may also be interested in making money Southwest A-List Elite Status to further enhance your travel with the airline. Doing so requires completing 25 qualifying flights or earning 35,000 Level Eligibility Points (TQPs) in a calendar year. You can earn bonus TQPs by spending on Premier cards – 1,500 TQPs for every $10,000 spent each calendar year.

Related: The Battle of the Airlines: Why I Think Southwest Airlines is the Best Airline

However, it also has some other nice bonus categories, as you’ll earn 2 points for every dollar spent on purchases of local transit and commuting, internet, cable and phone service, and with choose a streaming provider. You will then earn 1 point for every dollar on all other eligible purchases.

When it’s time to use those bonuses, one of the best things about redeem Southwest Rapid Rewards points is the simplicity of the process. Whether you choose the cheapest Wanna Get Away fare or the most expensive Business Select fare, your award fare is tied to the cash price of the flight.

This means you don’t have to worry about getting the highest score percentage conversion value possible. If you have Express Rewards points, it’s almost always a good idea to redeem them for Southwest flights – including choose to go to Hawaii and international destinations.

Southwest also gives you the option to redeem your points for gift cards, merchandise, and experiences, although these redemption options offer much less value.

Please also note that Southwest allows all travelers check up to two bags for freeand your carrier’s policy of no fees for changes or cancellations means you can resell your award tickets if the price drops. This gives valuable flexibility to get the best possible rewards.

Read more: How to change or cancel a Southwest Airlines flight

The most obvious competitors with Southwest Rapid Rewards Premier are two other personal branded Southwest cards – the more premium ones Southwest Quick Rewards Priority and lower level Southwest Rapid Rewards Plus Credit Card. This competition involves which card offers you the best perks in exchange for the card’s annual fee. If you are struggling to choose between the three, you can check our head-to-head comparison.

While Southwest Plus Quick Rewards costing only $69 a year, it has a 3% foreign transaction fee and a smaller anniversary bonus of just 3,000 Quick Rewards points ($45 value).

On the other hand, Southwest Priority Card there is a $149 annual fee but includes a $75 annual Southwest travel credit. That immediately pushes the out-of-pocket cost down to $74 a year. This will halve the fee of the Priority card. On top of that, you still get the 7,500 point anniversary bonus ($112.50 value), four upgraded A1-A15 boarding times (when available), 25% back on in-flight drinks, and Wi-Fi and No foreign transaction fees.

Many people travel in the Southwest, even just a few times a year would be better off choosing a Priority pass Southwest Express Rewards Premium Credit Card. After accounting for the travel credit and anniversary rewards on the Preferred card, you actually get the top $38.50 every year you hold the card.

Another card that gives the Premier card its money-making activity is a longtime favorite: Chase Sapphire Preferred Card. Sapphire Preferred offers a sign-up bonus of 60,000 bonus points after you spend $4,000 on purchases in the first three months of account opening. Those points are worth $1,200 if you transfer them to Chase’s incredible lineup 11 airline partners and 3 hotelsand this list includes Southwest.

Many travelers like to keep their rewards like Flexible, transferable points – although keep in mind that the Sapphire Preferred does not offer any perks when traveling on flights operated by Southwest.

Related: Chase Sapphire Preferred Credit Card Review

The Southwest Express Rewards Premium Credit Card can be a good option for frequent travelers to the Southwest and currently comes with a higher welcome offer.

Although some people will go ahead by choosing Southwest Express Rewards Priority Credit Card and the $75 annual Southwest travel credit and anniversary bonus it offers, Premier delivers a relative return on lower upfront costs.

Official app link: Southwest Express Rewards Premium Credit Card

Additional reporting by Ryan Wilcox, Stella Shon and Christina Ly.