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A couple weeks ago, Chase launched an increased sign-up bonus of 50,000 points for the personal and business versions of the Southwest Airlines Rapid Rewards Premier Card after you spend $2,000 in the first three months, which is double the usual sign-up offer on these cards.
As a reminder, here are the full details:
- Get 50,000 points after you spend $2,000 on purchases in the first 3 months of opening your account.
- Get 6,000 points after your Cardmember Anniversary.
- Earn 2 points per $1 spent on Southwest Airlines® purchases made directly with the airline and on Rapid Rewards Hotel and Car Rental Partner purchases.
- Earn 1 point per $1 spent on all other purchases.
- Redeem points for gift cards, car rentals, cruises, hotel stays and international flights to over 800 destinations on 50+ global carriers.
- No foreign transaction fees.
You can also earn 1,500 Tier Qualifying Points for every $10,000 you spend on the card, up to 15,000 points annually.
The main difference between the Southwest Premier and Southwest Plus is the annual fee. The Premier cards cost $99 per year, while the Plus cards are just $69 per year. Also, the Premier cards earn 6,000 bonus points every cardmember anniversary while the Plus cards earn 3,000 anniversary points. The Premier cards also waive foreign transaction fees, which is good for international travelers.
If you’re just out for the sign-up bonus, which counts toward the Southwest Companion Pass, you might want to get one of the Pluses. The good news is that Chase will allow you to get the sign-up bonus for each card — both Premiers and both Pluses — so you might want to consider also applying for the business version of the Premier or the Business Plus card if you have a small business. It’s possible to get both in one day, so you can potentially bank up to 100,000 points in one go if you can hit the minimum spending for both cards within the allotted time. Also, if you already have one version of one of these cards, say the personal Premier, you can get the other card as well, the Plus in this case, and still get the full bonus.
On the downside, Southwest recently made some negative changes to the Rapid Rewards program by introducing dynamic award pricing. The changes weren’t as drastic as some frequent flyers feared, but it was enough to drop the value of Rapid Rewards slightly in my most recent monthly valuations to about 1.3 cents apiece.That would put the sign-up bonus on each of these cards at about $650 each.
In terms of overall points strategy, Chase offers these 50,000 point sign-up bonuses periodically. But you never know if or when they’ll come around again, and they usually only last for a few weeks. If the timing isn’t right for you now, my guess is that these offers will come back, but possibly not until the end of the year.
Check out these posts for more information on maximizing the offer:
- Southwest Companion Pass: 16 Things Every Flyer Should Know
- 11 Ways to Top Up Your Account for the Southwest Companion Pass
- Southwest Points vs. Southwest Credits: When Transferring Makes Sense and How to Check Availability
- Can I Get Two Southwest Cards in One Day to Qualify for a Companion Pass
- Using Marriott Flight + Hotel Awards for the Southwest Companion Pass
Chase Sapphire Preferred® Card
|Intro APR||Regular APR||Annual Fee||Foreign Transaction Fee||Credit Rating|
|N/A||16.24%-23.24% Variable||Introductory Annual Fee of $0 the first year, then $95||0%||Excellent Credit|