Southwest Rapid Rewards® Premier Credit Card

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Last updated on March 25th, 2021

Southwest Rapid Rewards® Premier Credit Card

Earn 30,000 Bonus Points & a Companion Pass

Southwest Rapid Rewards® Premier Credit Card
  • Regular Purchase APR 15.99% to 22.99% variable based on creditworthiness and Prime Rate
  • Balance Transfer APR 15.99% to 22.99% variable based on creditworthiness and Prime Rate
  • Cash Advance APR 24.99% variable based on the Prime Rate
  • Annual Fee $99
  • Credit Needed Excellent , Good
  • Processing Network Visa
Best Benefits
  • 2X points per dollar spent on Southwest Airlines® purchases
  • 1X point per dollar spent on all other purchases
  • 6,000 bonus point reward after each cardmember anniversary
  • Earn 40,000 bonus points when you spend $1,000 in the first 3 months
  • No foreign transaction fees
  • No change fees
Rates & Fees
  • Regular Purchase APR: 15.99% to 22.99% variable based on creditworthiness and Prime Rate
  • Balance Transfer APR: 15.99% to 22.99% variable based on creditworthiness and Prime Rate
  • Balance Transfer Transaction Fee: Either $5 or 5% of the amount of each transfer, whichever is greater
  • Cash Advance APR: 24.99% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each transaction, whichever is greater
  • Annual Fee: $99
  • Late Payment Penalty Fee: Up to $39
  • Return Payment Penalty Fee: Up to $39
Credit Card Deals
  • Save 4% on hotel room stays - Offer Expires on June 01, 2021 - See Details
  • Save 4% on all purchases - Offer Expires on May 16, 2021 - See Details
  • Save 4% on hotel room reservations - Offer Expires on June 01, 2021 - See Details
  • Save 4% on hotel room stays - Offer Expires on June 01, 2021 - See Details
  • Save 4% on all purchases - Offer Expires on May 16, 2021 - See Details
  • Save 4% on hotel room reservations - Offer Expires on June 01, 2021 - See Details
  • Save 4% on hotel room reservations in the U.S. - Offer Expires on June 01, 2021 - See Details
  • Save 4% on hotel room reservations - Offer Expires on June 01, 2021 - See Details
  • Save 4% on hotel room stays - Offer Expires on June 01, 2021 - See Details
  • Save 4% on hotel room reservations - Offer Expires on June 01, 2021 - See Details
  • View All Deals -

Please Note: This review is in the process of being updated by the BestCards team

At a Glance

Frequent Southwest Airlines flyers will love the rewards they can redeem when using the Southwest Rapid Rewards® Premier, which grants yearly points just from being a cardmember.

Ideal for Those Who:

  • Travel often, especially with Southwest Airlines®
  • Make frequent in-flight purchases
  • Want the flexibility of redeeming points for flights, hotel stays, car rentals, and more
  • Regularly check bags when flying

Southwest Rapid Rewards® Premier Credit Card Review

A step above the Rapid Rewards® Plus, the Southwest Rapid Rewards® Premier Credit Card offers essentially the same lineup of incentives: 2X points per dollar spent on Southwest Airlines purchases and 1 point per dollar on all other transactions; no charge when checking your first two bags; no blackout dates on reward flights or seats when it comes to redeeming; and 30,000 bonus points plus a Companion Pass after spending $5,000 during your first three months as a cardmember.

How to Redeem Miles

When you begin to cash in on the rewards you’ve earned with your Southwest Rapid Rewards® Premier Card, you’ll notice that you can turn your Rapid Rewards points into just about anything; flexible rewards redemption is a big draw with this program.

  • TravelOnce you’ve earned rewards towards that dream trip you’ve been planning, you’re ready to redeem them. Points earned with the Southwest Rapid Rewards® Premier Card can be redeemed to book or upgrade travel on Southwest. Rewards can be used to save on flights, towards seat upgrades, and more (including Companion Passes!). Log into your Rapid Rewards account on the Southwest® homepage, select a flight, and pay with points; the sky is the limit!
  • Hotels: With the Southwest Rapid Rewards® program, cardholders are eligible to book hotel stays with points earned from their Southwest Rapid Rewards® Premier Card at over 70,000 hotels across the globe.
  • Car RentalsRenting a car often makes travel easier, as you’re able to move at your own pace, make pitstops at your leisure, and take your time enjoying your destination. Points earned with the Southwest Rapid Rewards® Premier Card can be used towards hiring a car rental from several different rental companies.
  • Retail: Points can be redeemed with hundreds of retail partners, for products, services, and even gift cards. Shop retail options, from golf balls and electronics to home goods; or, find the right gift card from brands like Amazon, iTunes, Lowes and more to treat yourself or a friend – simply use your points to purchase!
  • Buy, Gift or TransferCardholders can use their Rapid Rewards® points for a variety of purchases; they also have the option to gift points or transfer their points to whoever they’d like, even if they are not a cardholder. All the recipient must do is enroll in the Rapid Rewards program, if they have not already. Points can even be donated to pre-selected charities; Southwest has chosen several charities that can accept points as a donation.

For more information on the Rapid Rewards loyalty program, check out:30

Should You Apply for the Southwest Rapid Rewards® Premier Credit Card?

Overall, a great package of perks for those who find themselves frequently booking with Southwest Airlines. There are three major differences between the Rapid Rewards® Plus and the Rapid Rewards® Premier: The annual fee, cardmember anniversary bonus points, and foreign transaction fee. If you opt for the Rapid Rewards® Premier, you’ll have a $99 annual fee – $30 more than the Rapid Rewards® Plus’ $69 fee – applied to your first billing statement. However, being a Rapid Rewards® Premier cardmember nets you 6,000 bonus points each account anniversary – double the amount you’ll earn with the Rapid Rewards® Plus.

Finally, the Southwest Rapid Rewards® shines above the Plus in that you can freely use it abroad without the worry of foreign transaction fees. Even if you only fly internationally on occasion, you could potentially save a considerable amount on surcharges if you happen to make a sizable purchase.

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