Update: The Southwest Airlines Rapid Rewards Premier Credit Card has just relaunched with a two roundtrip flight promotion after spending $2,000 in the first three months. However this bonus EXPIRES in less than 24 hours! (Thursday Morning, 10:00 am ET)
The Southwest Airlines Rapid Rewards® Premier Card is actually the first credit card I’ve chosen to sign up for (or have been able to sign up for) in years because of my poor credit. I’ve worked my way up the credit ladder and finally decided to cash in on savings around $800. All cardholders will be able to earn 50,000 bonus points after making $2,000 in the first three months of card ownership, which is good enough for two round-trip “Wanna Get Away” flights, minus the government fee and taxes. The savings can be as greater than $800, which qualifies as one of the best bonuses available on a credit card today.
Owners of the Southwest Airlines Rapid Rewards® Premier Card will also receive double rewards points when making purchases, and when your purchases involve Southwest or their partners, double points are earned. All other purchases receive 1 rewards point per dollar spent and the points earned never expire. There is also no limit to the amount of points you can earn, and points can be redeemed for a variety of flight options.
The purchase APR on the Southwest Airlines Rapid Rewards® Premier Card is a very reasonable (when compared to others) 15.24% variable. This rate is provided to all approved cardholders but there is one glaring negative. An annual fee of $99 must be paid, including right away but every year you renew the card, 6,000 bonus points can be obtained (worth $100 in Wanna Get Away flights). This means that if you actually use your Southwest Airlines Rapid Rewards® Premier Credit Card, the annual bonus points contradict the annual fee, making this card a keeper.
It’s also important to note that Southwest is the only airline I’m aware of that doesn’t charge for the first or second bag and if a flight needs to be changed, it can be done so free of charge. If all goes well with my upcoming flight, I can’t imagine why I wouldn’t look to Southwest first for all future flights and owning the Southwest Airlines Rapid Rewards® Premier Credit Card should do a good job of saving me hundreds of dollars every year. If you plan on taking a trip soon or are a Southwest Airlines frequent flier, consider applying for the Southwest Airlines Rapid Rewards® Premier Card.