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Southwest Fast Rewards Premier Credit score Card overview
*Card Ranking relies on the opinion of TPG’s editors and isn’t influenced by the cardboard issuer.
Savvy TPG readers know we typically don’t advocate constructing your factors technique round a single cobranded airline bank card, as these have a tendency to supply fewer perks and fewer flexibility than a comparably-priced transferable factors card.
In relation to the Southwest Fast Rewards card portfolio, you’ll typically discover higher incomes charges and extra versatile redemption choices with playing cards that earn Chase Final Rewards factors — such because the Chase Sapphire Most popular Card — which you’ll then switch to Southwest Fast Rewards at a 1:1 charge.
That stated, Southwest bank cards are very talked-about amongst Southwest followers. The mid-tier model of the three private Southwest playing cards — the Southwest Fast Rewards Premier Credit score Card — has an excellent stability of perks and an annual charge that would make it worthy of a spot in your card assortment.
Right here’s the whole lot you want to know in regards to the Southwest Premier Card that can assist you determine if it ought to earn a spot in your pockets.
Southwest Fast Rewards Premier Credit score Card welcome provide
New candidates for the Southwest Premier card can earn 60,000 bonus factors plus a 30% off promo code after spending $3,000 on purchases within the first three months from account opening.
TPG values Southwest Fast Rewards factors at 1.5 cents apiece, making the 60,000 factors alone value $900. When you can redeem factors in a number of methods, one of the best worth will come from utilizing them for flights.
That is additionally 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 immediately 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 offered to be used till October 31, 2024.
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Given it’s a single-use promo code, it might be greatest to save lots of this for a dearer ticket. You will get the most important financial savings when utilizing the code for round-trip journey and/or throughout peak journey intervals just like the summer time or the vacations.
Take into account that you’ll be able to’t earn a sign-up bonus on the Southwest Fast Rewards Premier Credit score Card for those who at present have any private Southwest card, nor are you eligible for those who earned a sign-up bonus on a private Southwest card previously 24 months.
Additionally, all of Southwest’s cobranded playing cards are topic to Chase’s 5/24 rule. Should you’ve opened 5 or extra new accounts over the previous 24 months (throughout all issuers, not simply Chase), you’re more likely to be denied for this card.
Associated: The last word information to bank card utility restrictions
Incomes factors on the Southwest Fast Rewards Premier Credit score Card
Most airline bank cards award bonus factors or miles for purchases immediately with the provider, and that’s actually true right here: You’ll earn 3 factors per greenback spent with Southwest on the Premier Card.
Nevertheless, it additionally has another engaging bonus classes: You’ll earn 2 factors per greenback spent on native transit and commuting purchases, web, cable and cellphone providers and with choose streaming suppliers. You’ll earn 1 level per greenback on all different eligible purchases.
This quantities to a 4.5% return on spending with Southwest and a 1.5% return on on a regular basis spending, in keeping with our valuations.
Redeeming factors on the Southwest Fast Rewards Premier Credit score Card
When it’s time to make use of your rewards, probably the greatest issues about redeeming Southwest Fast Rewards factors is the simplicity of the method. Whether or not you choose the most cost effective Wanna Get Away fares or the most costly Enterprise Choose tickets, the price of your award ticket is tied to the money value of the flight.
This implies you don’t have to fret about getting the best potential cent-per-point redemption worth. You probably have Fast Rewards factors, you’ll be able to redeem them for present playing cards or merchandise, however one of the best worth comes from utilizing your factors for Southwest flights — together with choices to Hawaii and worldwide locations.
Keep in mind that Southwest’s coverage of no change or cancellation charges means you’ll be able to reprice your award ticket if the value drops. This provides useful flexibility to get the absolute best redemption.
Learn extra: Tips on how to change or cancel a Southwest Airways flight
Southwest Fast Rewards Premier Credit score Card advantages
When you don’t anticipate an airline bank card with a $99 annual charge to come back loaded with perks, there are fairly a number of advantages on the Southwest Fast Rewards Premier Credit score Card.
You’ll obtain 6,000 bonus factors on every account anniversary, which TPG values at $90 — which means that the anniversary bonus practically offsets the cardboard’s $99 annual charge.
Additionally, you’ll take pleasure in further advantages like two EarlyBird check-ins per yr with the Southwest Premier Card — serving to you get on the airplane early to snag a greater seat — and 25% again on inflight purchases.
You may additionally be considering incomes Southwest A-Listing elite standing to additional improve your travels with the provider. Doing so requires finishing 25 qualifying flights or incomes 35,000 tier-qualifying factors (TQPs) in a calendar yr. You’ll be able to earn bonus TQPs by spending on the Premier card: 1,500 TQPs for each $10,000 spent per calendar yr.
Associated: Battle of the airways: Why I believe Southwest Airways is one of the best
Which playing cards compete with the Southwest Fast Rewards Premier Credit score Card?
The Southwest Premier card has two apparent rivals: the opposite Southwest bank cards from Chase. Nevertheless, it’s value additionally contemplating a common journey bank card with an analogous annual charge to see whether or not that is higher to your pockets. Let’s see how they stack up:
For extra choices, take a look at our full record of journey bank cards.
Associated: Evaluating the Southwest Fast Rewards Precedence, Premier, and Plus Credit score Playing cards
Is the Southwest Fast Rewards Premier Credit score Card value it?
The Southwest Premier card with a $99 annual charge is usually offset by the 6,000 anniversary bonus factors, which have a worth of $90, in keeping with TPG’s valuations. Should you worth its different perks at greater than $9, that covers the annual charge. Nevertheless, most Southwest loyalists ought to apply for the Precedence card as an alternative, because it has extra advantages.
Backside line
Official utility hyperlink: Southwest Fast Rewards Premier Credit score Card
Extra reporting by Ryan Wilcox, Stella Shon, Christina Ly and Ryan Smith.
