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Southwest just launched a new buy points promotion that may sound good at first blush: save up to 40% when you purchase Southwest points now through August 14. Since we don’t often see buy-points deals from Southwest, this promotion likely leaves many Southwest flyers wondering whether this is a good deal.

For better or worse, Southwest points have a fairly defined value. You’re not going to be able to get spectacular value out of buying points and redeeming them for first-class awards like you can with Alaska miles. Instead, Southwest award flights are redeemable based on the following general formula:

  • Business Select fares: 78 points per dollar (1.28 cents per point)
  • Anytime fares: 78 points per dollar (1.28 cents per point)
  • Wanna Get Away fares: around 76-78 points per dollar (1.28-1.31 cents per point)

That said, this formula is based on the base airfare cost, before taxes and fees. So, the actual value you’ll get from an award will be around 1.4-1.5 cents per point. TPG’s current valuation of Southwest points sits at 1.5 cents per point.

Armed with that in mind, let’s check out how much Southwest is selling points for during this promotion:

Buy Points Discount/Bonus Price Per Point
Buy 2,000 points No discount or bonus 3.0 cents
Buy 3,000 — 60,000 points 40% discount 1.65 cents

As you can see, even with the 40% discount, the price of Southwest points is higher through this promotion than the value you’d get from them.

But what about if you’re just shy of an award? First, keep in mind that the standard rate for buying points is punitive at 3 cents per point — more than twice the value of the points. But even when you’re looking to top off your account, I’d suggest you look for another source. Your best bet for quick Southwest points are Chase Ultimate Rewards points, which transfer to Southwest instantaneously.

If you’re short of a redemption and have some time before booking a flight, I’d recommend generating more points by signing up for a Southwest credit card — or spending on an existing one — like one of the below:

If you have a business, you can sign up for the new Southwest Rapid Rewards Performance Business Credit Card to score an awesome 80,000-point bonus for spending $5,000 in the first three months. Or, sign up for the Southwest Rapid Rewards Premier Business Credit Card and earn 60,000 points when you spend $3,000 on purchases in the first three months.

Alternatively, you can earn transferable Chase Ultimate Rewards to Southwest if you have a card such as the Chase Sapphire Reserve (3x on travel and dining; 50,000 point sign-up offer after you spend $4,000 on purchases in the first three months from account opening), Chase Sapphire Preferred Card (2x on travel and dining; 60,000 point sign-up offer after you spend $4,000 on purchases in the first three months from account opening) or the Ink Business Preferred Credit Card (3x on travel and more; 80,000 point sign-up offer after you spend $5,000 on purchases in the first three months from account opening).

There’s really only one time I’d suggest someone take advantage of a Southwest buy points promotion: If you’re trying to book a great Southwest deal before it sells out or have an urgent flight need and:

  • are just short of Southwest points
  • don’t have Ultimate Rewards points to transfer, and
  • need to minimize your out-of-pocket cost as much as possible

Only then would I say that it’d make sense to buy enough points to complete the redemption. Otherwise, I’d recommend avoiding this promotion and only using Southwest points you earn through flying or spending on a credit card.

Featured image by Alberto Riva / The Points Guy.

This is The Points Guy’s permanent page about Southwest’s “buy miles” promotions, so you can bookmark it and check back regularly for the latest offer. Keep in mind you may see some reader comments referring to older deals below.

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New! Southwest Rapid Rewards® Performance Business Credit Card

With the Southwest Performance Business card you'll earn 9,000 bonus points each year after your cardmember anniversary. Southwest also offers one of the most lucrative airline perks - the Companion Pass.

Apply Now
More Things to Know
  • Earn 80,000 points after you spend $5,000 on purchases in the first 3 months your account is open.
  • 9,000 bonus points after your Cardmember anniversary.
  • 3 points per $1 spent on Southwest Airlines?® purchases.
  • 2 points per $1 spent on social media and search engine advertising, Internet, cable and phone services and 1 point per $1 spent on all other purchases.
  • 4 Upgraded Boardings per year when available
  • Inflight WiFi Credits
  • Global Entry or TSA Pre✓® Fee Credit
  • Employee cards at no additional cost, earn points on employee spending.
Intro APR on Purchases
Regular APR
18.24% - 25.24% Variable
Annual Fee
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Recommended Credit

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.