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Update: This offer is no longer available. View the current offer for the Chase Southwest Rapid Rewards credit card here.
Chase just launched yet another 50,000 point sign-up bonus, this time for their Southwest co-branded Visa Signature card . Southwest recently revamped their frequent flyer program most notably changing their redemption rates and adding a real elite program. The card comes with a really high sign-up bonus (its normally 20,000) and some cool features, like Tier Qualifying Points and a 6,000 point bonus every year you renew the card. While the card has a $99 annual fee, the 6,000 point annual equates to $100 towards Wanna Get Away fares, essentially making it a wash. I know a lot of you have gotten in on other Chase deals this year, so I recommend you wait at least 30 days in between applications. I’ve been told that this promo will run until August 6 and possibly be extended. Even if you do get declined, Chase has real humans answering their reconsideration line and in most cases will work with you to get you approved. Redeeming: Their new program has three fixed redemption rates – which means you can use points for any flight, but you need to use varying amounts depending on the type of fare you want to “buy” with your points. Points are worth a different amount when you redeem them for their 3 types of fares: Business Select, Anytime and Wanna Get Away.Per their redemption chart, 120 points is $1 towards Business Select, 100 points is $1 towards Anytime and 60 points is $1 towards Wanna Get Away. This means 50,000 points would get you $833.33 worth of Wanna Get Away fares, $500 towards Anytime and $416.67 Business Select.
Earning: -2 points for each $1 of net purchases made directly with Southwest Airlines, including flight, inflight, Southwest giftcards, Jackpot Deals, and Southwest Airlines Vacations package purchases, and at participating Southwest Airlines Rapid Rewards Hotel and Rental Car Partners. – 1 point for each $1 of all other net purchases. - Elite qualifying purchases: You will earn 1,500 Tier Qualifying Points (TQPs) for each $10,000 of eligible net purchases, with a max of 15,000 TQPs from credit card spend a year. 35,000 TQPs gets you free A-list, which gets priority security and boarding, 25% bonus on points and enhanced customer service. -70,000 TQP gets A-list Preferred, which gets all A-list benefits, plus free in-flight wifi, 100% point bonus and higher standby priority. Under normal earning you get 12 TQPs per dollar spent on Business Select, 10 on Anytime and 6 on Wanna Get Away, so the credit card is a nice option to accrue some TQPs needed for status – Companion pass- you can get a free companion pass (so anyone can travel on any flight you are on for a year) if you accrue 110,000 TQPs in a year or fly 100 one-way flights. Some key benefits of Southwest- – 2 free checked bags – Points don’t expire as long as you have any qualifying activity within 24 months – No change fees. If you cancel a flight, you get your money back in the form of a voucher towards a future flight. You can also redeem Southwest points for gift cards, hotels and rental cars,but expect to get about 1 cent per point, so $500 in value from the sign-up bonus. Overall, I think this is a great card if you plan to fly Southwest in the future. Southwest is not in an alliance, but they recently bought Airtran, so their route network will soon be bigger than ever once everything is finalized later this year and into 2012. As always, if you plan to get this card, I’d greatly appreciate if you use my application link – it’s what keeps this site running! Please feel free to comment or ask any questions below.