Southwest Rapid Rewards® Premier Review

Overview

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.

Our 3.0 out of 5 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.

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.

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.

Pros and cons

The welcome bonus

The welcome bonus is strong: 85,000 points after $2,000 in three months, a big boost toward the Companion Pass on top of the points' face value.

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

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.

Frequently asked questions

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