Your Southwest Rapid Rewards points will be worth less in 2024
Planning to book a trip in 2024? Well, flying to your next destination via Southwest Airlines has just gotten a little more expensive — at least when it comes to using your Southwest Rapid Rewards points.
If you are a Southwest Rapid Rewards member, you may casually skim (or skip altogether) reading every word in your Rapid Rewards account statement.
As first reported by Frequent Miler and confirmed when this TPG writer checked the bottom of her Rapid Rewards account statement email on Nov. 10, Southwest recently issued the following notice:
Starting Jan. 1, 2024, for flights purchased using Rapid Rewards points, the number of Rapid Rewards points required per dollar of base fare will increase by approximately 4%.
So, what does this mean for travelers?
Related: Southwest revamps Rapid Rewards by lowering thresholds for status
Southwest Rapid Reward points will be worth less in 2024
Currently, TPG values Southwest Rapid Rewards points at 1.4 cents apiece, which means your points will soon be worth 1.3 cents each once the change takes effect. However, people who book travel for 2024 before the Jan. 1 change will not be affected. Therefore, we recommend reserving award flights before the increase occurs.
"We recently shared with Rapid Rewards® Members that beginning Jan. 1, 2024, they'll see a modest increase in the number of Rapid Rewards points required per dollar of the base fare to redeem Wanna Get Away®, Wanna Get Away Plus®, Anytime, and Business Select® fares," a Southwest spokesperson told TPG in a statement. "We continue our focus on enhancing the Customers' experiences and remain committed to delivering nonstop Southwest Hospitality. We're making this change as a normal course of business to adapt to the current environment and increased cost pressures."
Though Southwest is giving its customers ample notice regarding the change, this is not the first time the airline has devalued its points program, which already ties the number of points required to the cash price. In 2021, the loyalty program decreased the value of Rapid Rewards points by 6%.
Related: The best Southwest Airlines credit cards
Bottom line
While a 4% increase in the number of points needed to book an award flight is not a huge loss, it's interesting that an already revenue-based program would see a devaluation like this. With the current pattern, though, it wouldn't surprise us if this happens again with Rapid Rewards in another couple of years.
TPG featured card
at American Express's secure site
Terms & restrictions apply. See rates & fees.
| 3X | Earn 3X Miles on Delta purchases. |
| 1X | Earn 1X Miles on all other eligible purchases. |
Pros
- Delta SkyClub access when flying Delta
- Annual companion ticket for travel on Delta (upon renewal)
- Ability to earn MQDs through spending
- Various statement credits for eligible purchases
Cons
- Steep annual fee of $650
- Other Delta cobranded cards offer superior earning categories
- Earn 100,000 Bonus Miles after you spend $6,000 or more in purchases with your new Card within the first 6 months of Card Membership and an additional 25,000 bonus miles after you make an additional $3,000 in purchases on the Card within your first 6 months, starting from the date that your account is opened. Offer Ends 04/01/2026.
- Delta SkyMiles® Reserve American Express Card Members receive 15 Visits per Medallion® Year to the Delta Sky Club® when flying Delta and can unlock an unlimited number of Visits after spending $75,000 in purchases on your Card in a calendar year. Plus, you’ll receive four One-Time Guest Passes each Medallion Year so you can share the experience with family and friends when traveling Delta together.
- Enjoy complimentary access to The Centurion® Lounge in the U.S. and select international locations (as set forth on the Centurion Lounge Website), Sidecar by The Centurion® Lounge in the U.S. (see the Centurion Lounge Website for more information on Sidecar by The Centurion® Lounge availability), and Escape Lounges when flying on a Delta flight booked with the Delta SkyMiles® Reserve American Express Card. § To access Sidecar by The Centurion® Lounge, Card Members must arrive within 90 minutes of their departing flight (including layovers). To access The Centurion® Lounge, Card Members must arrive within 3 hours of their departing flight. Effective July 8, 2026, during a layover, Card Members must arrive within 5 hours of the connecting flight.
- Receive $2,500 Medallion® Qualification Dollars with MQD Headstart each Medallion Qualification Year and earn $1 MQD for each $10 in purchases on your Delta SkyMiles® Reserve American Express Card with MQD Boost to get closer to Status next Medallion Year.
- Enjoy a Companion Certificate on a Delta First, Delta Comfort, or Delta Main round-trip flight to select destinations each year after renewal of your Card. The Companion Certificate requires payment of government-imposed taxes and fees of between $22 and $250 (for itineraries with up to four flight segments). Baggage charges and other restrictions apply. Delta Basic experiences are not eligible for this benefit.
- $240 Resy Credit: When you use your Delta SkyMiles® Reserve American Express Card for eligible purchases with U.S. Resy restaurants, you can earn up to $20 each month in statement credits. Enrollment required.
- $120 Rideshare Credit: Earn up to $10 back in statement credits each month after you use your Delta SkyMiles® Reserve American Express Card to pay for U.S. rideshare purchases with select providers. Enrollment required.
- Delta SkyMiles® Reserve American Express Card Members get 15% off when using miles to book Award Travel on Delta flights through delta.com and the Fly Delta app. Discount not applicable to partner-operated flights or to taxes and fees.
- With your Delta SkyMiles® Reserve American Express Card, receive upgrade priority over others with the same Medallion tier, product and fare experience purchased, and Million Miler milestone when you fly with Delta.
- Earn 3X Miles on Delta purchases and earn 1X Miles on all other eligible purchases.
- No Foreign Transaction Fees. Enjoy international travel without additional fees on purchases made abroad.
- $650 Annual Fee.
- Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
- Terms Apply.
- See Rates & Fees