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Southwest Fast Rewards Plus Credit score Card overview
* Card score relies on the opinion of TPG’s editors and isn’t influenced by the cardboard issuer.
In a pastime that feels dominated by ultra-premium bank cards with $450-plus annual charges and laundry lists of luxurious perks, it’s arduous to think about {that a} cobranded airline bank card with a $69 annual payment could be worthwhile to loyal Southwest prospects. Nonetheless, the Southwest Fast Rewards Plus Credit score Card does make sense for some flyers — in some circumstances.
Southwest is not any stranger to doing issues in a different way, together with providing three inexpensive private bank cards. With all three playing cards presently providing equivalent welcome bonuses — 60,000 bonus factors plus a 30% off promo code after spending $3,000 on purchases throughout the first three months of account opening — it’s much more necessary to take a look at the variations amongst your three selections.
Let’s check out how the Southwest Fast Rewards Plus Credit score Card and its perks measure up in opposition to its higher-end siblings.
Southwest Fast Rewards Plus welcome supply
New candidates for the Southwest Fast Rewards Plus Credit score Card can earn 60,000 bonus factors plus a 30% off promo code after spending $3,000 on purchases throughout the first three months of account opening.
TPG values Southwest Fast Rewards factors at 1.5 cents every, making 60,000 factors price $900.
That is the primary time Southwest has provided a promo code as a part of a sign-up bonus on a bank card. The code will seem straight in your Southwest.com account inside eight weeks of assembly the spending requirement. It may be used — solely as soon as — on a single one-way or round-trip Wanna Get Away, Wanna Get Away Plus, Anytime and Enterprise Choose fare, and is obtainable to be used till October 31, 2024.
Given it’s a single-use promo code, it could be finest to save lots of this for a costlier ticket. You will get the most important financial savings when utilizing the code for round-trip journey and/or throughout peak journey durations just like the summer time or the vacations.
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Earlier than you rush to use for this card, there are two software guidelines to recollect. First, the Southwest Plus card is topic to Chase’s 5/24 rule. For those who’ve opened 5 or extra new bank card accounts (from any financial institution, not simply Chase) up to now 24 months, you seemingly received’t be accredited for this card.
One other limitation applies particularly to Southwest bank cards. If in case you have any private Southwest bank card — or earned a sign-up bonus on a private Southwest card within the final 24 months — you received’t be eligible for the bonus on this card. Luckily, this restriction is simply on private playing cards and doesn’t apply to Southwest enterprise bank cards. This implies you possibly can have each a Southwest private and a enterprise card open concurrently, which you would possibly wish to do (that can assist you earn the Companion Cross when it’s not included in a welcome bonus).
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Incomes factors on the Southwest Fast Rewards Plus
With the Southwest Plus card, you’ll earn 2 factors per greenback on Southwest flights and with Fast Rewards resort and rental automotive companions. It is a 3% return on spending, primarily based on TPG’s valuations.
You’ll additionally earn 2 factors per greenback on native transit and commuting (together with ride-hailing apps), 2 factors per greenback on web, cable and telephone companies, 2 factors per greenback on choose streaming companies and 1 level per greenback on different purchases.
It’s price mentioning that purchases exterior the U.S. will nonetheless earn bonus factors at these identical charges, however you’ll pay a international transaction payment of three%. Thus, this isn’t a very good card for purchases in different nations.
Redeeming factors on the Southwest Fast Rewards Plus
Fast Rewards gives just a few low-value redemption choices, together with reward playing cards, merchandise, resort stays, rental automobiles and journey experiences. You’ll be able to even redeem for worldwide flights on different carriers. Nonetheless, the redemption values on these choices are worse than what you’ll get when utilizing your factors for Southwest flights.
The airline gives 4 tiers of fares, starting from the most affordable Wanna Get Away tickets to the costlier Enterprise Choose choice — with Wanna Get Away Plus and Anytime fares in between.
Award pricing is tied to the money value of the tickets. Thus, the variety of factors you want will go up or down relying on the money value of the flight. The constructive right here is that utilizing your factors for Southwest flights is nearly at all times doable.
Associated: Tips on how to redeem factors with the Southwest Fast Rewards program
Southwest Fast Rewards Plus advantages
There are perks on the Southwest Fast Rewards Plus card that transcend the Companion Cross or the factors from the sign-up bonus. You’ll get pleasure from the next ongoing advantages in trade for the cardboard’s $69 annual payment:
- Reimbursement for as much as two EarlyBird check-ins each card anniversary.
- 3,000 bonus factors every account anniversary yr, price $45 in TPG’s valuations.
- 25% again on inflight purchases of drinks and Wi-Fi on Southwest Airways flights.
- Roadside dispatch offers around-the-clock availability for roadside companies, although you’ll pay for any companies supplied.
- Prolonged guarantee safety provides as much as one yr added to eligible producers’ warranties of three years or much less.
- Journey accident insurance coverage for unintentional dying or dismemberment whereas touring.
- Baggage delay insurance coverage of as much as $100 per day for as much as three days for bags delays of six hours or extra.
- Misplaced baggage reimbursement of as much as $3,000 per passenger.
- Buy safety: As much as $500 of harm or theft protection for 120 days for eligible purchases you make in your card — with a restrict of $50,000 per account.
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Which playing cards compete with the Southwest Fast Rewards Plus?
The obvious rivals to the Southwest Fast Rewards Plus Credit score Card are the opposite Southwest bank cards. Nonetheless, it’s additionally price contemplating whether or not a common journey bank card would possibly match higher in your pockets.
- If you need extra Southwest advantages with a modest payment: The Southwest Fast Rewards Premier Credit score Card has the identical welcome bonus however additional perks to justify its $99 annual payment. These embody 6,000 anniversary bonus factors, 2 EarlyBird check-ins per yr, 25% again on inflight purchases and incomes 1,500 tier qualifying factors towards A-Checklist standing for every $10,000 spent on the cardboard. For extra particulars, learn our full evaluation of the Southwest Premier card.
- For those who fly Southwest repeatedly and wish essentially the most perks: The Southwest Fast Rewards Precedence Credit score Card is the premium Southwest bank card, providing 7,500 anniversary bonus factors, and a $75 Southwest journey credit score annually. The cardboard has a $149 annual payment. For extra particulars, learn our full evaluation of the Southwest Precedence card.
- If you need extra factors that can be utilized with Southwest and in different methods: The Chase Sapphire Most popular Card is an effective alternative for incomes Chase Final Rewards factors, which you’ll redeem with Southwest but additionally with different airline and resort companions. You’ll get quite a few journey protections, as nicely, and the cardboard has a $95 annual payment. For extra info, learn our full evaluation of the Sapphire Most popular.
For extra choices, take a look at our full record of the very best journey bank cards and finest Chase bank cards.
Associated: Evaluating the Southwest Fast Rewards Precedence, Premier and Plus bank cards
Is the Southwest Fast Rewards Plus price it?
The Southwest Plus card has the bottom annual payment of the Southwest bank cards: $69 per yr. Its 3,000 anniversary bonus factors are price $45 in TPG’s valuations. This profit alone knocks the efficient annual payment right down to $24. Nonetheless, one of many different two private playing cards will symbolize higher worth if you happen to’re loyal to Southwest.
Backside line
For under $69 per yr, the Southwest Fast Rewards Plus card comes with a sign-up bonus that’s sufficient to make this card price contemplating, along with the bonus factors you need to use at no cost flights. Past the welcome bonus, the cardboard gives a handful of advantages and perks that may justify preserving the cardboard in your pockets yearly.
For those who fly with Southwest usually, although, one of many different two Southwest playing cards will present further perks. Be sure you consider what’s finest for you past merely trying on the annual payment and the welcome bonus.
Official software hyperlink: Southwest Fast Rewards Plus Credit score Card
Further reporting by Ryan Wilcox, Stella Shon, Christina Ly and Ryan Smith.
