Southwest Rapid Rewards® Premier Credit Card Review: High Rewards, All the Southwest Perks

The Southwest Rapid Rewards® Premier Credit Card is meant for frequent travelers who fly Southwest regularly. It offers high rewards rates on Southwest and other travel-related purchases, as well as a welcome bonus and anniversary points. It also lets you earn points toward Southwest’s elite statuses, including the highly-coveted Companion Pass (that allows your companion to fly for free, excluding taxes).

It’s mid-tier among the airline’s co-branded cards and used to stand out for having an outsized sign-up bonus. However, the Rapid Rewards Premier lost its main draw due to recent changes that leveled the welcome bonus of all Southwest cards to 50,000 points. The Rapid Rewards Priority is likely the best option for frequent Southwest travelers looking to earn more points.

The Rapid Rewards Premier card is a decent option if you always fly Southwest and want to get the most rewards from your purchases. It offers a generous 50,000-point welcome bonus after spending $1,000 in the first three months and 3X points on Southwest purchases (plus other travel categories), so you can easily rack up points.

It’s great whether you’re looking to qualify for elite status or a Companion Pass. Plus, it includes perks like anniversary points, EarlyBird check-ins and no foreign transaction fees. However, it comes with a $99 annual fee.

Since the sign-up bonus dropped from 85,000 points to 50,000 points, the Rapid Rewards Premier is somewhat overshadowed by the more expensive Rapid Rewards Priority. The Priority card offers a yearly travel credit and more anniversary points, which can offset its higher annual fee. Nonetheless, the Rapid Rewards Premier is a great option if you want to maximize Southwest benefits but aren’t sure you can use the Rapid Rewards Priority’s yearly travel credit.

The Rapid Rewards Premier’s rewards program is tailored to the needs of frequent Southwest flyers. You can earn points on Southwest flights and various travel-related categories, making it a versatile option for travelers.

Here’s the rewards rate you get for various spending categories:

• Southwest Purchases: 3X points
• Rapid Rewards Hotel and Car Rental Partners: 2X points
• Local Transit and Commuting (Including Rideshare): 2X points
• Internet, Cable and Phone Services; Select Streaming: 2X points
• All Other Purchases: 1X points

Your Southwest points are most valuable when you redeem them for Southwest flights, giving you 1.4 cents per point. While you can also use them for gift cards, merchandise, car rentals and hotel stays, these options don’t offer as much value as flights do. Southwest points aren’t transferable to other airline and hotel loyalty programs.

The Rapid Rewards Premier lets you earn qualifying points for Southwest’s elite programs:

Companion Pass

Earning points for Companion Pass is simple since all the points you earn with the Rapid Rewards Premier count toward this total. This includes the card’s 50,000 bonus points (after spending $1,000 in three months) and the 6,000 Companion Pass points boost you earn yearly.

The Companion Pass is Southwest's most-coveted perk, allowing you to bring a designated person along for free (excluding taxes and fees) whenever you book a Southwest flight with cash or points. To qualify, you need to earn 135,000 points or take 100 one-way flights in a calendar year. Once earned, the Companion Pass is valid for the rest of the year and the entire following year.

A-List and A-List Preferred

You earn 1,500 tier qualifying points (TQPs) for every $5,000 you spend with the Rapid Rewards Premier. These TQPs determine your eligibility for either an A-List Status or an A-List Preferred. Here are the benefits you can expect from these programs:

• A-List Status: A-List status gives you perks like priority boarding, priority check-in, access to expedited security lanes, dedicated customer service contacts and a 25% bonus on points earned from each flight. To qualify, you need to fly 25 one-way flights or earn 35,000 TQPs in a year.
• A-List Preferred: A-List Preferred offers everything in A-List plus extras like free in-flight WiFi and a 100% bonus on points earned from flights. To reach this status, you need to fly 50 one-way flights or earn 70,000 TQPs in a year. This status is perfect for those who travel regularly with Southwest and want to get the most out of their flights.

The Rapid Rewards Premier offers several valuable perks for frequent Southwest flyers:

Generous Welcome Bonus: The card offers a substantial welcome bonus of 50,000 points after spending $1,000 in the first three months. This is worth $700 if redeemed for Southwest flights and a massive boost toward your Companion Pass requirements.

High Rewards: Booking Southwest flights using the card lets you earn 3X points. Meanwhile, you get 2X points on local transit, internet and phone services, as well as select streaming and Rapid Rewards hotel and car rental partners. These are the same bonus categories as the pricier Rapid Rewards Priority.

Anniversary Bonus Points: You earn 6,000 points each year on your card’s anniversary. If used for Southwest flights, these points are worth $84, which can nearly offset the card’s $99 annual fee. You also earn 10,000 bonus Companion Pass points annually, which can help you attain that high-value perk.

No Foreign Transaction Fees: You can use the card internationally without worrying about additional fees.

Earns Points Toward Elite Status: The card allows you to earn 1,500 tier qualifying points (TQPs) for every $5,000 you spend. These TQPs count toward your eligibility for A-List and A-List Preferred, Southwest’s elite status programs. If you're a frequent Southwest traveler, these benefits can make your journeys smoother and more rewarding.

Travel Perks: The card comes with two EarlyBird Check-Ins each year, which ensures priority boarding and a better chance at securing your preferred seat. It also gives you 25% back on inflight purchases. Notably, it comes with free lost luggage reimbursement and baggage delay insurance, providing financial protection and peace of mind in case of travel mishaps.

Before applying for the Rapid Rewards Premier, keep these drawbacks in mind:

Annual Fee: The card has a $99 annual fee. While your rewards can help offset this cost, it’s still an upfront expense to consider. If you want to earn Southwest points with a lower fee, the Southwest Rapid Rewards® Plus Credit Card might be a better fit.

Limited Bonus Categories: Purchases outside the card’s bonus categories only earn 1X points. While it offers substantial rewards on Southwest flights and other travel-related expenses, it falls short in everyday categories like dining and groceries. If you prefer a travel card that also rewards common spending, the Chase Sapphire Preferred Card is worth considering.

Non-Transferable Points: The Rapid Rewards points earned with this card can’t be transferred to other airline or hotel loyalty programs. This limits your options if you want to use your points to book flights with other carriers, especially for international travel to destinations like Tokyo or Paris.

We break down the differences between the Rapid Rewards Premier and other Southwest cards to help you choose the one that best suits your needs.

To help you decide if the Rapid Rewards Premier is a good fit, we compare it with another airline card below:

We evaluated the Southwest Rapid Rewards® Premier Credit Card by reviewing 20 airline cards and focusing on key features. The evaluation criteria and their weights are as follows:

• Value for Travelers (40%): Looks at the total rewards and perks you can get, minus the cost of the annual fee.
• Airline Coverage (20%): Rates how many places the airline flies to, important for frequent travelers.
• Bonus Offer Return (15%): Evaluates how much value you get from the card's sign-up bonus.
• Airline Rewards Rate (10%): Measures how many rewards you earn from spending on the airline.
• Customer Satisfaction (5%): Based on how satisfied cardholders are with the issuer, according to J.D. Power.
• Foreign Fees (5%): Rates how much you pay for foreign transactions, with higher ratings for lower fees.
• Credit Score Requirement (5%): Rates how easy it is to qualify for the card based on your credit score.