Southwest Premier Credit score Card evaluation: Good worth at a low value
Editor’s word: This submit has been up to date with new data.
Southwest Speedy Rewards Premier Credit score Card overview
The Southwest Speedy Rewards Premier Credit score Card is the center of the pack with regards to Southwest private bank cards. Whereas airline bank cards usually don’t include too many perks, the absence of overseas transaction charges and 6,000-anniversary bonus factors ought to assist offset this card’s cheap $99 annual price. Card ranking*: ⭐⭐⭐½
*Card Score relies on the opinion of TPG’s editors and isn’t influenced by the cardboard issuer.
Savvy TPG readers know that we usually don’t advocate constructing your factors technique round a single cobranded airline bank card, as they have a tendency to supply fewer perks and fewer flexibility than a comparably priced transferable factors card.
Specifically, with regards to the Southwest Speedy Rewards card portfolio, you’ll usually get higher incomes charges and extra versatile redemption choices with playing cards such because the Chase Sapphire Most well-liked Card that earn Chase Final Rewards factors — which you’ll then switch to Southwest Speedy Rewards at a 1:1 fee.
That mentioned, the Southwest bank cards are extremely popular amongst Southwest followers. The mid-tier model of the three private Southwest playing cards — the Southwest Speedy Rewards Premier Credit score Card — has an excellent stability of perks and an annual price that would make it worthy of a spot in your card assortment.
And the cardboard is presently providing a wholesome sign-up bonus of 75,000 factors after you spend $3,000 on qualifying purchases within the first three months of account opening. This provide ends Dec. 5, 2022.
Right here’s all the things you could know in regards to the Southwest Premier Card that can assist you determine if it ought to earn a spot in your pockets.
Who is that this card for?
The Southwest Speedy Rewards Premier Credit score Card is good for normal Southwest flyers, as most of the perks are particular to the airline.
The Premier can also be a good selection for these searching for a decrease annual price than the Southwest Speedy Rewards Precedence Credit score Card ($99 in comparison with $149) whereas nonetheless having fun with perks reminiscent of two annual EarlyBird check-ins, no overseas transaction charges and an anniversary bonus (6,000 factors). That mentioned, for those who do fly with Southwest continuously, you must take into account that the higher-tier Southwest Speedy Rewards Precedence Credit score Card does provide a better anniversary bonus (7,500 factors) and extra perks when flying, reminiscent of upgraded boardings.
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However for extra informal Southwest flyers, the Southwest Premier Card is a wonderfully ample choice to complement your different journey bank cards.
Do needless to say all of Southwest’s cobranded playing cards are topic to Chase’s notorious 5/24 rule. If you happen to’ve opened 5 or extra new accounts over the previous 24 months (throughout all issuers, not simply Chase), you’re prone to be denied for this card. Additionally, word that including it to your pockets will depend towards your 5/24 tally as a result of it’s a private card. If you happen to plan to use for different Chase playing cards within the close to future, be certain that this card is definitely worth the slot it would take up.
Associated: Evaluating the Southwest Speedy Rewards Precedence, Premier, and Plus Credit score Playing cards
The Southwest Speedy Rewards Premier Credit score Card is presently providing a sign-up bonus of 75,000 factors after you spend $3,000 on purchases within the first three months of account opening. Supply ends Dec. 5, 2022.
TPG values Speedy Rewards factors at 1.5 cents every, that means 75,000 factors are value as much as $1,125 alone. Nonetheless, these factors (together with any you earn by spending on the cardboard) do depend towards Companion Move qualification. Consequently, getting the cardboard and incomes the complete bonus may put you nearer to the most effective perks within the frequent flyer world.
Whereas Southwest, efficient Jan. 1, 2023, is elevating the qualifying benchmark for the Companion Move by 10,000 factors — from 125,000 to 135,000 — cobranded bank card holders will get a ten,000-point enhance both firstly of the yr (for current cardholders) or inside 30 days of opening an account (for brand new members).
And if you wish to work towards the Companion Move, you will need the factors to land in your account in 2023 — not 2022 — so take into account not finishing the spending bonus requirement on the cardboard till then.
Understand that you possibly can’t earn a sign-up bonus on the Southwest Speedy Rewards Premier Credit score Card for those who presently have any private Southwest card, nor are you eligible for those who earned a sign-up bonus on a private Southwest card prior to now 24 months.
Associated: The final word information to bank card software restrictions
Essential perks and advantages
When you don’t anticipate an airline bank card with a $99 annual price to return loaded with perks, there are fairly a couple of on the Southwest Speedy Rewards Premier Credit score Card value mentioning. The primary is the 6,000-point anniversary bonus you’ll obtain after renewing your card every year.
Though the annual price will not be waived the primary yr, TPG values 6,000 Speedy Rewards factors at $90, that means that the anniversary bonus will nearly completely offset that price yearly you maintain it.
Additionally, vacationers will get pleasure from two EarlyBird check-ins per yr with the Southwest Premier Card, which might get you on the aircraft early and assist you to snag a greater seat. The cardboard provides 25% again on inflight purchases as effectively.
You may additionally be curious about incomes Southwest A-Record 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 possibly can 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 feel Southwest Airways is the very best
Incomes and redeeming
Most airline bank cards award bonus factors or miles for purchases straight with the provider, and that’s actually true right here, as you’ll earn 3 factors per greenback spent with Southwest once you swipe your Premier Card.
Nonetheless, it additionally has another attractive bonus classes, as you’ll earn 2 factors per greenback spent on native transit and commuting purchases, web, cable and telephone companies, and with choose streaming suppliers. You’ll then earn 1 level per greenback on all different eligible purchases.
When it’s time to make use of these rewards, the most effective issues about redeeming Southwest Speedy Rewards factors is the simplicity of the method. Whether or not you choose the most affordable Wanna Get Away fares or the costliest Enterprise Choose tickets, the price of your award ticket is tied to the money worth of the flight.
This implies you don’t have to fret about getting the best potential cent-per-point redemption worth. You probably have Speedy Rewards factors, it’s nearly all the time a good suggestion to redeem them for Southwest flights — together with choices to Hawaii and worldwide locations.
Southwest additionally offers you the choice to redeem your factors for present playing cards, merchandise and experiences, though these redemption choices provide a lot decrease values.
Keep in mind too that Southwest permits all vacationers to examine as much as two luggage free of charge, and the provider’s coverage of no change or cancellation charges means that you could reprice your award ticket if the worth drops. This provides invaluable flexibility to get the very best redemption.
Learn extra: How you can change or cancel a Southwest Airways flight
Which playing cards compete with the Southwest Premier?
The obvious opponents to the Southwest Speedy Rewards Premier are the opposite two private cobranded Southwest playing cards — the higher-end Southwest Speedy Rewards Precedence and the lower-end Southwest Speedy Rewards Plus Credit score Card. This competitors comes right down to which card provides the very best perks for you in change for its annual price. If you happen to’re struggling to select between the three, you possibly can take a look at our head-to-head comparability.
Whereas the Southwest Speedy Rewards Plus solely prices $69 a yr, it has a 3% overseas transaction price and a smaller anniversary bonus of solely 3,000 Speedy Rewards factors (value $45).
However, the Southwest Precedence card has a $149 annual price however features a $75 annual Southwest journey credit score. That instantly knocks the out-of-pocket value right down to $74 a yr. This might lower the Precedence card’s price in half. On prime of that, you continue to get a 7,500-point anniversary bonus (value $112.50), 4 upgraded A1-A15 boardings (when obtainable), 25% again on inflight drinks and Wi-Fi and no overseas transaction charges.
Many individuals who journey on Southwest even only a few instances a yr will probably be higher off choosing the Precedence card over the Southwest Speedy Rewards Premier Credit score Card. After taking into consideration the journey credit score and anniversary bonus on the Precedence card, you are truly popping out on prime $38.50 every year you maintain the cardboard.
One other card that provides the Premier card a run for its cash is a long-time favourite: the Chase Sapphire Most well-liked Card. The Sapphire Most well-liked provides a sign-up bonus of 60,000 bonus factors after you spend $4,000 on purchases within the first three months from account opening. These factors are value $1,200 for those who switch them to Chase’s unimaginable lineup of 11 airline and three lodge companions, and this listing contains Southwest.
Many vacationers get pleasure from protecting their rewards as versatile, transferable factors — although keep in mind that the Sapphire Most well-liked doesn’t confer any perks when touring on Southwest-operated flights.
Associated: Chase Sapphire Most well-liked bank card evaluation
The Southwest Speedy Rewards Premier Credit score Card is usually a good choice for frequent Southwest flyers and presently comes with an elevated welcome provide.
Although some folks will come out forward by choosing the Southwest Speedy Rewards Precedence Credit score Card and the $75 annual Southwest journey credit score and anniversary bonus it carries, the Premier provides an honest return with a decrease upfront value.
Official software hyperlink: Southwest Speedy Rewards Premier Credit score Card
Further reporting by Ryan Wilcox, Stella Shon and Christina Ly.