Southwest Rapid Rewards Plus Card: An affordable way to earn points, now with 75,000 bonus points

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

The Southwest Rapid Rewards Plus Credit Card has the lowest annual fee of any Southwest credit card on the market, which is a strength or a weakness depending on how you look at it.

While the $69 annual fee is affordable, the Plus card doesn’t have as many perks as its higher priced counterparts to keep you interested after the initial welcome bonus. Tag Rating *:

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

In a hobby now seems to be dominated by super premium credit card with $450 plus annual fees and laundry list of luxury perks, it’s hard to imagine that a branded airline credit card for a $69 annual fee that might be worth it for loyal Southwest customers, but Southwest Rapid Rewards Plus Credit Card makes sense for some leaflets – under the right conditions.

Southwest has been relatively unusual in that it offers three affordable personal credit cards. With all three cards currently offering an identical 75,000 point welcome bonus after you spend $3,000 on purchases in the first three months of account opening, it’s even more important look at the difference between your three options. These offers end on December 5, 2022.

Let’s see how Southwest Rapid Rewards Plus Credit Card and its perks are judged against its more advanced brethren.

This is not a card that will unlock the door of deluxe first class suites or give you all the traps of elite status, but that was never what Southwest was all about. The Southwest Plus Quick Rewards offers solid earning rates and minimal benefits, but if you only fly Southwest occasionally, that’s really all you need.

That said, it’s important to keep in mind that Southwest Plus Quick Rewards is depending on Chase’s 5/24 Rule. If you’ve opened five or more new credit card accounts (including being added as an authorized user) in the last 24 months, you may not be approved for this card. If you’re below the 5/24 threshold, keep in mind that opening this card counts towards that limit, so make sure this particular product is worth it.

Have another limitation, However. If you are currently holding any individual Southwest credit card – or earned a sign-up bonus on a personal Southwest card in the last 24 months – you will not be eligible for rewards on this card. Fortunately, this restriction is only for individual cards and does not apply to Southwest Business Credit Card. This means you can open both your personal and Southwest business cards at the same time, which is something you might want to do (more on this below).

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

Whether you settle on Southwest Rapid Rewards Plus Credit Card or choose one of its siblings (middle floor Southwest Express Rewards Premium Credit Card or top level Southwest Express Rewards Priority Credit Card), you’ll earn the same sign-up bonus – 75,000 points after you spend $3,000 on purchases in the first three months of account opening. Offer ends on December 5, 2022.

TPG . Value Southwest Rapid Rewards rewards at 1.5 cents per point, making this sign-up bonus worth about $1,125.

What’s more, moreover, those 75,000 bonus points count towards the airline’s earning Extremely valuable Companion Cardpotentially thousands of dollars depending on how often you and your partner fly.

The Southwest Companion Pass is essentially a two-for-one benefit that allows the holder to bring a designated friend or family member on any Southwest flight they take. With the Companion Card, you only need to pay taxes and fees on the second ticket, just like you would with award tickets. Even better, the Companion Card can be applied to both paid and award tickets. So if you regularly fly with another person, this perk can be very, very lucrative.

To earn the Southwest Companion Pass, you need to earn 135,000 qualifying points (up from 125,000 points; effective January 1, 2023) or make 100 qualifying one-way flights in a calendar year. By earning the sign-up bonus with this card, you are more than half way there.

While Southwest is raising the eligibility benchmark for its Companion Pass card to 10,000 points from 2023, co-branded credit cardholders will receive a 10,000-point increase at the beginning of the year (for existing cardholders) or within 30 days of from the date of account opening (for new members).

So you’ll earn 75,000 points with this sign-up bonus, plus 10,000 additional points, meaning you need another 50,000 points to reach that eligibility threshold. Once you do, your card will be valid for the remainder of that calendar year and the following year.

Read more: 13 Lessons From 13 Years Going Through Southwest Companion Passes

• Refunds for up to two Sign up for EarlyBird every day anniversary card.
• 3,000 bonus points for each account anniversary year, worth about $45 at TPG’s valuation.
• Baggage Delay Coverage: Up to $100 per day for up to three days when your baggage is delayed by more than six hours.
• 25% cashback on drinks and in-flight Wi-Fi on Southwest Airlines.
• Extended warranty protection: Up to one year in addition to a qualified manufacturer’s warranty of three years or less.
• Purchase Protection: Up to $500 in damage or theft coverage for 120 days on eligible purchases you make on your card.

This is the ratio of current income to Southwest Plus Quick Rewards:

• 2 points for every dollar on local transit and go to work purchases, including ride-hailing services.
• 2 points per dollar for internet, cable, phone and selection services streaming service Purchase.
• 2 points per dollar on purchases at Southwest and purchases made with Rapid Rewards hotel and car rental partners.
• 1 point per dollar on all other eligible purchases.

These bonus categories help make the Southwest Rapid Rewards Plus Credit Card the forerunner of buy everyday.

While the majority of Southwest’s route network is focused on domestic US flights, note that the Southwest Rapid Rewards Plus Credit Card has 3% foreign transaction fees if you intend to use it for overseas purchases.

Rapid Rewards offers several low-value redemption options, including gift cards, merchandise, hotel stays, rental cars, and travel experiences. You can even redeem international flights on other carriers – but for all of these options, the price is lower than what you get when you redeem for Southwest flights.

The airline offers four fare classes, from the cheapest Wanna Get Away ticket to the more expensive Business Select class with Wanna Get Away Plus and Anytime fares in between.

The reward rate is tied to the cash price of the ticket, unlike some other airlines that use a fixed value chart. This means you don’t have to worry too much about saving for a good chance of redemption. If you have Quick Rewards points, it’s almost always a good idea to use them instead of keeping them to redeem for future points.

Related: How to redeem points with Southwest Quick Rewards program

The most obvious competitors with Southwest Rapid Rewards Plus Credit Card to be Southwest Express Rewards Premium Credit Card and Southwest Express Rewards Priority Credit Card. Premier has a slightly higher annual fee of $99, plus a better anniversary point bonus (6,000 points) and higher earning rates on purchases in Southwest (3 points per dollar versus 2 points) per dollar with Plus) and free foreign transactions.

If you’re interested in getting more use out of your Southwest credit card, you should aim for the Top Level Preferred Card. Your $149 annual fee is cut in half thanks to a $75 annual Southwest travel credit. The Priority pass offers all the benefits of the other two, but it has a 7,500-point anniversary bonus, plus four upgraded boarding times per year and the ability to Earn unlimited level qualifying points to achieve elite status.

The last question you need to answer for yourself is whether you want the cheapest Southwest card – or are you willing to pay more upfront and it will essentially be paid back to you in the form of Southwest travel credits and points bonuses. celebrate. By answering that question, you will be able to find out if Southwest Plus Quick Rewards is the right card for you, or if you should opt for one of the airline’s more premium offerings.

Related: Compare Southwest, Premier, and Plus Express Rewards Priority credit cards

Official app link: Southwest Rapid Rewards Plus Credit Card with 75,000 bonus points. Offer ends on December 5, 2022.

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