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Update: Some offers mentioned below are no longer available. View the current offers here – Southwest Airlines Rapid Rewards Premier Card
Update: Following reader reports of similar offers available through a customer referral program, we confirmed that the 50,000-point bonus offer will be available through other channels after October 7.
Since early September, new cardholders have had the opportunity to earn 50,000 points after signing up for the Southwest Airlines Rapid Rewards Premier Card and spending $2,000 in the first three months. That generous sign-up bonus, which is twice the usual number of points offered, is about to come to an end.
This limited-time offer will likely expire in the next few weeks, so if you’ve considered applying, now’s the time to act. While the usual bonus offer of 25,000 points comes with a lower spending requirement of $1,000 in the first three months, the $2,000 threshold is still attainable.
According to TPG’s valuations, Southwest points are worth 1.3 cents apiece, which means the 50,000-point sign-up bonus is worth about $650. Especially as the airline continues to expand its route map to include more international destinations (such as Belize), you have the potential to get some great value from these points.
As a reminder, here are some of the Rapid Rewards Premier Card’s benefits:
- Get 50,000 points after you spend $2,000 on purchases in the first three 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.
Is it worth it?
The opportunity to earn double the typical sign-up bonus makes this limited-time offer a no-brainer for frequent Southwest flyers who don’t have the card yet. While the card does have a $99 annual fee which isn’t waived the first year, the points earned from the sign-up bonus are worth $550 more. Plus, you’ll earn 6,000 points on each cardmembership anniversary, as well as 1,500 Tier Qualifying Points for every $10,000 you spend on the card.
Perhaps the best reason to nab this bonus is that it gets you almost half-way toward the coveted Southwest Companion Pass, which lets a designated companion travel with you for free (minus taxes and fees). To get this perk, you’ll need to earn 110,000 Southwest points in a calendar year, and if you travel frequently, earning the additional 60,000 points needed shouldn’t be too difficult. If you decide to spring for this offer with this benefit in mind, make sure to read Nick Ewen’s post on How to Earn the Southwest Companion Pass for Almost Two Years.
Southwest doesn’t offer the most expansive network of destinations, but if the airline’s route map aligns with your travel plans, this is a great opportunity to earn a healthy haul of points and to get nearly half-way toward the Southwest Companion Pass. And while the Southwest Rapid Rewards Premier Card is known to feature increased sign-up bonuses periodically, there’s no saying when the next offer will show up.
How would you use 50,000 Southwest points?