Southwest Rapid Rewards® Premier
A $149-a-year airline card from Chase.
Rates, fees, and full terms are set by Chase and can change. See current rates & fees on the issuer’s site, and always confirm the latest terms before applying.
Our review
The Southwest Rapid Rewards Premier sits in the middle of the Southwest personal lineup, with a higher fee than the Plus but more anniversary points and no foreign transaction fees. As with all Southwest cards, the headline draw is the Companion Pass, which credit card points help you earn.
It is a fine card for a committed Southwest flyer, but the points are locked to Southwest, so its value is really the welcome bonus, the anniversary points, and Companion Pass progress.
Think twice if: you do not fly Southwest often, since the Plus is cheaper and a non-flyer gets little from either.
Our 6.2 out of 10 rating
Each score weighs the rewards rate, value after the annual fee, welcome offer, points flexibility, and perks, with every point valued at a flat 1 cent. This is our editorial assessment to help you compare cards, not a guarantee of approval or of the value you will get.
Earning rates at a glance
Rewards: how it earns
You earn well on Southwest and modest bonuses on dining and a couple of everyday categories, in locked Rapid Rewards points, plus a healthy chunk of anniversary points. Do not use it for general spending, its value is the welcome bonus, the yearly points, and the path to the Companion Pass.
| Category | Rate | Notes |
|---|---|---|
| Southwest purchases | 3x | Bonus category |
| Dining and restaurants | 2x | Bonus category |
| Groceries | 2x | Bonus category |
| Gas | 1x | Base rate |
| Travel | 1x | Base rate |
| Streaming | 1x | Base rate |
| Everything else | 1x | Everything else |
Brand and bonus rates: beyond the everyday categories above, this card also earns:
- 3x points on Southwest purchases
- 25% back on Southwest in-flight purchases
Every point and mile above is valued at a flat 1 cent, the same honest standard we use for every card. Run your own spending through the calculator to see what this card would actually return for you.
Best ways to earn & redeem
Put your dining and groceries spending on this card to earn at its highest rates, and let a different card handle the categories it does not bonus. Its dining rate is on the modest side for that category, so compare before you commit.
When you cash in, redeem the miles or points inside the single loyalty program this card is tied to. We value every point at a flat 1 cent, so treat any transfer upside as a bonus rather than the baseline — see what your points are really worth.
Pros and cons
- Helps earn the Southwest Companion Pass
- More anniversary points than the Plus
- No foreign transaction fees
- Welcome offer: 55,000 Rapid Rewards® bonus points
- Points locked to Southwest
- $149 annual fee
- Weak everyday earning outside Southwest
The welcome bonus
The current welcome offer is 55,000 Rapid Rewards® bonus points, earned after you spend $1,500 in 3 months. Valued honestly at a flat 1 cent per point, that is worth about $550. The spending requirement works out to roughly $500 per month, so make sure it fits your normal budget rather than pushing you to overspend.
Is it worth the annual fee?
The $149 fee is higher than the Plus, offset by more anniversary points and no foreign transaction fees. For a frequent Southwest flyer it can pencil out; for a lighter flyer, the cheaper Plus makes more sense.
First-year value vs ongoing value
| Welcome bonus | 55,000 Rapid Rewards® bonus points |
| To earn it | $1,500 in 3 months |
| Est. first-year value* | $783 |
| Est. ongoing value / yr* | $233 |
The welcome bonus makes year one the high point: roughly $783 in value once you count the bonus, this card’s rewards, and its credits, minus the $149 fee. After that, the honest figure is about $233 a year, so judge whether it earns its keep on the ongoing number, not the first-year headline.
*First-year value counts the welcome bonus, estimated rewards, and annual credits, minus the annual fee; ongoing value is a typical year after. Every point at a flat 1 cent, on average spending.
Benefits and protections
Beyond the rewards, the perks and protections worth knowing about include:
- First checked bag free for you and up to 8 passengers on the same reservation
- 6,000 anniversary bonus points each year
- Points count toward the Southwest Companion Pass
- No foreign transaction fees
Statement credits
- 6,000 anniversary bonus points each year
Who should get it, and who should skip it
If you fly Southwest regularly and want the extra anniversary points, the Premier is a reasonable step up, and it keeps you on track for the Companion Pass.
If your Southwest flying is occasional, the Plus covers the same Companion Pass goal for less. And if you do not fly Southwest, neither card is for you.
Alternatives to the Southwest Rapid Rewards® Premier
Pairs well with
The Southwest Rapid Rewards® Premier earns the most in its bonus categories, so pair it with a no-fee flat-rate card to cover everything it only earns a base rate on.
Frequently asked questions
Best-card guides featuring this card
Learn more
How does it rank for your spending?
Every card is ranked by what it actually returns on the way you spend. Run your numbers and see where the Southwest Rapid Rewards® Premier lands.
Calculate My CardOffer details verified against issuer sources as of October 2026. Editorial opinions are our own. Cardocrat values all points at a flat 1 cent and never inflates redemptions.
