Chase Southwest Rapid Rewards Visa Cards Review (Five Cards)
Updated February 11, 2023.
The Facts
Southwest Rapid Rewards Plus Visa (Personal)
Southwest Rapid Rewards Premier Visa (Personal)
Southwest Rapid Rewards Priority Visa (Personal)
Southwest Rapid Rewards Premier BUSINESS Visa
Southwest Rapid Rewards Performance BUSINESS Visa
The Math
The first four cards have the similar rewards structure, i.e. 2~3x Southwest, 2x preferred Hotel and Rental Car Partners & local transit and commuting (including rideshare) & internet, cable, phone and select streaming services (not available on Premier Business Card), and 1x everywhere else. As the value of Southwest points won't be more than 2 cents, for general spending, we will recommend a 2% cashback card like Citi Double Cash. For 2x categories, Chase Sapphire Reserve (3x travel and dining) or Sapphire Preferred (3x dining and 2x travel) will be a better option, as Ultimate Rewards (UR) points are worth a little more (our current valuation 1.5 cents) than Southwest points and may also be transferred to Southwest points at 1:1 if you desire. In addition, adding Chase Freedom Unlimited which has no annual fees and returns 1.5x UR points will take general spending rewards to a level that is more than 2% cashback card.
The fifth card - Southwest Performance Business Visa has a slightly better 4-3-2-1 rewards structure and thus could be interesting to certain customers. However, you may still want to check out Chase Sapphire Reserve as discussed above.
Personal Southwest Visa Comparison: there is really no reason to get Southwest Plus Visa or Southwest Premier Visa other than signup bonuses. Southwest Priority Visa, on the other hand, is considered a great card to have for Southwest flyers even if you don't spend much on the card. The 7,500 anniversary points and the $75 annual Southwest credit combined will be more than the $149 annual fee, and you will enjoy four annual upgrades for free.
Business Southwest Visa Comparison: for the same reasons above, Southwest Performance Business Visa usually will be a better card to keep after the first year, even if you don't spend much on the card. The 9,000 anniversary points which will set the effective annual fee back to $83, and with that you can enjoy four upgrades annual and $8 Wi-Fi for 365 times a year. If you are a heavy in-flight Wi-Fi user, this card is of great value; otherwise, look into the less expensive Southwest Priority Visa (personal) instead.
The Conclusion
We won't recommend keeping Southwest Plus Visa or Southwest Premier Visa (personal or business) after the first year. If you are a Southwest flyer, even when you only fly with them a few times a year, you will find Southwest Priority Visa or Southwest Performance Business Visa a great card to keep.
The Facts
- This review covers five Southwest Rapid Rewards (RR) credit cards: Southwest RR Plus Visa ($69), Southwest RR Premier Visa ($99), Southwest RR Premier BUSINESS Visa ($99), Southwest RR Priority Visa ($149), and Southwest RR Performance BUSINESS Visa ($199).
- Best use of Southwest Rapid Rewards points: Unlike miles of many other frequent flyer programs, the value of Southwest Airlines Rapid Rewards points is mostly revenue based and pretty much fixed at 76~83 points per dollar (on base fare), i.e., 1.21~1.31 cents per point. Due to the fact that you only need to pay certain fees and taxes (e.g. U.S. 9/11 Security Fee, Mexico Tourism Tax) but not other fees and taxes for awards tickets, you will actually achieve higher value in reality, especially for international tickets that have high taxes and fees. In addition, unlike most other frequent flyer programs, there is no capacity control when booking Southwest awards. Considering all factors, our current valuation of Southwest points is 1.3 cents per point. Southwest had three devaluations in history: the per point value (on base fare before considering savings in fees and taxes) was reduced from 1.67 cents to 1.43 cents in 2014, reduced again to 1.28~1.39 in 2017, and further reduced to 1.21~1.31 in 2021.
Southwest Rapid Rewards Plus Visa (Personal)
- Annual Fee: $69
- Signup Bonus: 30,000 points + Companion Pass through 2/28/2024 after spending $4,000 within 3 months of new account opening. This bonus is not available if you currently have any personal Southwest Rapid Rewards credit card (Southwest Plus, Southwest Premier, Southwest Priority) or have received a signup bonus for any personal Southwest credit card in the past 24 months. Based on anecdotal reports, this card is subject to Chase's 5/24 rule (you won't be approved for this card if you have opened 5 or more new accounts within the past 24 months; any new account with any issuer will count, not just with Chase; new accounts include most credit cards and charge cards but exclude non-Chase business cards and store charge cards). Historical Best Bonus: (1) 100,000 points with a $12K spending requirement in 2021; (2) 80,000 points in 2020; (3) 75,000 points in 2020 & 2022; (4) 65,000 points in 2020 & 2021; (5) 60,000 points in 2017 & 2019; (6) California residents only: 40,000 points + Companion Pass in 2017; (7) 30,000 points + Companion Pass in 2019, 2021 and 2023.
- Application Landing Page
- Rewards: 2x Southwest and its preferred Hotel and Rental Car Partners & local transit and commuting (including rideshare) & internet, cable, phone and select streaming services, and 1x everywhere else
- Southwest Benefits: (1) 3,000 anniversary points upon renewal, which offset the majority of the $69 annual fee. (2) Two EarlyBird check-in per year. (3) 25% back on inflight purchases. (4) Points earned from credit card spending count toward qualification for Southwest's top-tier status - Companion Pass which allows you to take a companion for free as many times as you like. Companion Pass is Southwest's potentially extremely lucrative top-tier elite status that allows you take a companion free of airline charges (not including taxes and government fees) on any Southwest operated flight as many times as you want and is normally achieved by flying 100 qualified one-way segments or earning 125,000 qualifying points in a calendar year.
Southwest Rapid Rewards Premier Visa (Personal)
- Annual Fee: $99
- Signup Bonus: 30,000 points + Companion Pass through 2/28/2024 after spending $4,000 within 3 months of new account opening. This bonus is not available if you currently have any personal Southwest Rapid Rewards credit card or have received a signup bonus for any personal Southwest credit card in the past 24 months. Based on anecdotal reports, this card is subject to Chase's 5/24 rule. Historical Best Bonus of this card: (1) 100,000 points with a $12K spending requirement in 2021; (2) 80,000 points in 2020; (3) 75,000 points in 2020 & 2022; (4) 65,000 points in 2020 & 2021; (5) 60,000 points in 2017 & 2019; (6) Companion Pass status for one year + 40,000 points for CA residents only in 2017; (7) Companion Pass + 30,000 points in 2019, 2021 and 2023.
- Application Landing Page
- Rewards: 3x Southwest, 2x preferred Hotel and Rental Car Partners & local transit and commuting (including rideshare) & internet, cable, phone and select streaming services, and 1x everywhere else
- Southwest Benefits: (1) 6,000 anniversary points, which offset the majority of the annual fees. (2) You also get 1,500 TQPs (Tier Qualifying Points) towards status for every $10K charged on the card. While the earning ratio of TQPs is not so great, if you are charging the card anyway this is a plus. (3) Two EarlyBird check-in per year. (4) 25% back on inflight purchases. (5) The points earned from credit card spending count towards Companion Pass qualification.
- Other Benefits: Waived foreign transaction fees with an embedded EMV chip.
Southwest Rapid Rewards Priority Visa (Personal)
- Annual Fee: $149
- Signup Bonus: 30,000 points + Companion Pass through 2/28/2024 after spending $4,000 within 3 months of new account opening. This bonus is not available if you currently have any personal Southwest Rapid Rewards credit card or have received a signup bonus for any personal Southwest credit card in the past 24 months. Based on anecdotal reports, this card is subject to Chase's 5/24 rule. Historical Best Bonus of this card: (1) 100,000 points with a $12K spending requirement in 2021; (2) 80,000 points in 2020; (3) 75,000 points in 2020 & 2022; (4) 65,000 points in 2018 & 2020 & 2021; (5) Companion Pass + 30,000 points in 2019 & 2021.
- Application Landing Page
- Rewards: 3x Southwest, 2x preferred Hotel and Rental Car Partners & local transit and commuting (including rideshare) & internet, cable, phone and select streaming services, and 1x everywhere else
- Southwest Benefits: (1) 7,500 anniversary points. (2) $75 annual Southwest credit. (3) Four Upgraded Boardings (a.k.a Business Select, A1-A15 boarding positions) per year when available. You may purchase an upgrade using the card at the airport on the date of travel only and will be reimbursed for the cost four times per year. (4) You also get 1,500 TQPs (Tier Qualifying Points) towards status for every $10K charged on the card. (5) 25% back on inflight purchases. (6) The points earned from credit card spending count towards Companion Pass qualification.
- Other Benefits: Waived foreign transaction fees with an embedded EMV chip.
- History: Chase added Southwest Priority Visa in to the Southwest credit card family in mid 2018.
Southwest Rapid Rewards Premier BUSINESS Visa
- Signup Bonus: 60,000 points after spending $3,000 within 3 months of new account opening. This bonus is not available if you currently have this card or have received a signup bonus for this card in the past 24 months. Historical Best Bonus of this card: 60,000 points several times in the past years.
- Application Landing Page
- The BUSINESS version Southwest RR Premier Visa shares all other features as the personal Southwest RR Premier Visa except some minor differences as follows:
- Rewards: 3x Southwest, 2x preferred Hotel and Rental Car Partners & local transit and commuting (including rideshare), and 1x everywhere else
- RR Premier Business Visa adds one feature: reimbursement of Southwest transfer fee (when you transfer your points to another Southwest RR member or a pre-selected charity), up to $500 per year.
Southwest Rapid Rewards Performance BUSINESS Visa
- Annual Fee: $199
- Signup Bonus: 80,000 points after you spend $5,000 within 3 months of new account opening. This bonus is not available if you currently have this card or have received a signup bonus for this card in the past 24 months. Historical Best Bonus of this card: 100,000 points with $25K spending requirement; 80,000 points in 2019 & 2021.
- Application Landing Page
- Rewards: 4x Southwest, 3x preferred Hotel and Rental Car Partners, 2x local transit and commuting (including rideshare) & online advertising (social media, search engine), cable, internet, and telephone services, and 1x everywhere else
- Southwest Benefits: (1) 9,000 anniversary points. (2) Four Upgraded Boardings (a.k.a Business Select, A1-A15 boarding positions) per year when available. You may purchase an upgrade using the card at the airport on the date of travel only and will be reimbursed for the cost four times per year. (3) In-flight Wi-Fi credits (up to 365 $8 statement per year). (4) 20% back on in-flight drinks, messaging, and movies. (5) You also get 1,500 TQPs (Tier Qualifying Points) towards status for every $10K charged on the card. (6) Reimbursement of Southwest transfer fee (when you transfer your points to another Southwest RR member or a pre-selected charity), up to $500 per year. (7) The points earned from credit card spending count towards Companion Pass qualification.
- Other Benefits: (1) Reimbursement for Global Entry ($100) or TSA PreCheck ($85) application fee every 4 years. (2) Waived foreign transaction fees with an embedded EMV chip.
- History: Chase added Southwest Performance Business Visa in to the Southwest credit card family in mid 2019 as the top-tier card.
The Math
The first four cards have the similar rewards structure, i.e. 2~3x Southwest, 2x preferred Hotel and Rental Car Partners & local transit and commuting (including rideshare) & internet, cable, phone and select streaming services (not available on Premier Business Card), and 1x everywhere else. As the value of Southwest points won't be more than 2 cents, for general spending, we will recommend a 2% cashback card like Citi Double Cash. For 2x categories, Chase Sapphire Reserve (3x travel and dining) or Sapphire Preferred (3x dining and 2x travel) will be a better option, as Ultimate Rewards (UR) points are worth a little more (our current valuation 1.5 cents) than Southwest points and may also be transferred to Southwest points at 1:1 if you desire. In addition, adding Chase Freedom Unlimited which has no annual fees and returns 1.5x UR points will take general spending rewards to a level that is more than 2% cashback card.
The fifth card - Southwest Performance Business Visa has a slightly better 4-3-2-1 rewards structure and thus could be interesting to certain customers. However, you may still want to check out Chase Sapphire Reserve as discussed above.
Personal Southwest Visa Comparison: there is really no reason to get Southwest Plus Visa or Southwest Premier Visa other than signup bonuses. Southwest Priority Visa, on the other hand, is considered a great card to have for Southwest flyers even if you don't spend much on the card. The 7,500 anniversary points and the $75 annual Southwest credit combined will be more than the $149 annual fee, and you will enjoy four annual upgrades for free.
Business Southwest Visa Comparison: for the same reasons above, Southwest Performance Business Visa usually will be a better card to keep after the first year, even if you don't spend much on the card. The 9,000 anniversary points which will set the effective annual fee back to $83, and with that you can enjoy four upgrades annual and $8 Wi-Fi for 365 times a year. If you are a heavy in-flight Wi-Fi user, this card is of great value; otherwise, look into the less expensive Southwest Priority Visa (personal) instead.
The Conclusion
We won't recommend keeping Southwest Plus Visa or Southwest Premier Visa (personal or business) after the first year. If you are a Southwest flyer, even when you only fly with them a few times a year, you will find Southwest Priority Visa or Southwest Performance Business Visa a great card to keep.