Is the Southwest Rapid Rewards® Plus Worth the $99 Annual Fee?
Likely yes. On a typical budget the Southwest Rapid Rewards® Plus earns about $373 a year in rewards, which already clears the $99 fee with $274 to spare, before counting any perks. Heavier spenders come out further ahead.
Every credit, broken down
The Southwest Rapid Rewards® Plus offsets its fee with statement credits and benefits. Here is every one, with the most you can get from each per year. Remember that credits only count if you would have spent that money anyway, and some renew on a monthly or semi-annual schedule you have to use or lose.
| Credit or benefit | Up to |
|---|---|
| 3,000 anniversary bonus points each year | varies |
| Total stated value | $0 |
If you use all of it, that is $0 back against a $99 fee, leaving $99 of the fee for your rewards to make up.
What you earn on spending
Credits are only half the story; the card also earns rewards every time you swipe. On $29,160 of annual spending, the Southwest Rapid Rewards® Plus earns about $373 a year at a flat 1 cent per point. The figure below is based on a typical household budget. See the full category breakdown in our Southwest Rapid Rewards® Plus review, or run your own numbers in the rewards calculator.
The break-even
Add it up. The Southwest Rapid Rewards® Plus costs $99 a year. It leans on rewards, and everyday rewards add about $373. That is a net of $274 in your favor every year you hold it, before any welcome bonus. First-year holders also collect a welcome bonus worth about $800, pushing the first-year total to roughly $1,074.
Frequently asked questions
- Is the Southwest Rapid Rewards® Plus worth the annual fee?
- Likely yes. On a typical budget the Southwest Rapid Rewards® Plus earns about $373 a year in rewards, which already clears the $99 fee with $274 to spare, before counting any perks. Heavier spenders come out further ahead.
- How do you offset the Southwest Rapid Rewards® Plus annual fee?
- Through rewards and the welcome bonus. On a typical budget the card earns about $373 a year, clearing the fee on its own.
- Is there a no-annual-fee alternative to the Southwest Rapid Rewards® Plus?
- Yes. If you cannot clear the $99 fee, a no-fee card keeps every dollar of rewards as profit. See our ranked no-fee picks to compare.
