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The Southwest Rapid Rewards® Premier Credit Card is a key credit card if you’re trying to earn the best deal in travel, the Southwest Companion Pass. You’ll earn 40,000 Southwest points after spending $1,000 on purchases in the first 3 months of account opening.
40,000 Southwest points are worth ~$600 in Southwest travel. And those points will count toward the 110,000 Southwest points needed to earn a Companion Pass!
Chase Southwest Premier Review
Apply Here: Southwest Rapid Rewards® Premier Credit Card
If you fly Southwest often, or if Southwest serves your home airport, you’ll get huge amounts of travel from this card. You’ll earn 40,000 Southwest points after spending $1,000 on purchases in the first 3 months of opening the Chase Southwest Premier. I’ll show you why that’s equivalent to $600 in free flights!
How to Earn Points With the Chase Southwest Premier
It’s easy to earn points with the Chase Southwest Premier! You can earn points in 3 ways:
- 2 Southwest points per $1 on Southwest Airlines purchases
- 1 Southwest point per $1 on every other purchase
- 6,000 Southwest points every cardmember anniversary
How to Use Your Points
Southwest award prices are based on the cash price of the ticket. That means NO blackout dates! You can reserve an award flight as long as there’s a seat for purchase.
Southwest points are on average worth ~1.5 cents each (it can be higher or lower). So with the 40,000 Southwest points you’ll earn from this card’s sign-up bonus, you can expect to receive a value of ~$600.
To use your points, make sure you’ve selected the “Points” box in the top right of the Southwest website. “Wanna Get Away” fares are the biggest bang for your points.
Southwest has an insanely generous cancellation policy. If you need to change a Southwest flight you reserved with either points or money, you can modify it for zero fees with Southwest. And if you need to cancel, the points or money you spent on the flight will be deposited into your Southwest account for future use.
You’ll always get 2 free checked bags and free cancellations and changes with any fare.
Benefits of the Chase Southwest Premier
Southwest Companion Pass
The Southwest Companion Pass is one of the best deals in travel. But you need to earn 110,000 qualifying Southwest points in a calendar year to achieve it.
You can earn the Companion Pass easiest by opening 1 personal and 1 business Southwest card and meeting minimum spending requirements. But remember, all of the Southwest cards are subject to the Chase “5/24” rule. And you can only have 1 personal Southwest card at once.
After you earn the Companion Pass, a friend or family member can travel with you on paid and award flights for just the cost of taxes and fees. This can easily save you hundreds of dollars per flight.
6,000 Southwest Points Annually
Each year on your cardmember anniversary, you’ll receive 6,000 bonus Southwest points!
Is the Chase Southwest Premier Worth the Annual Fee?
The annual fee is $99 and is applied during your first billing statement.
You’ll receive 6,000 points every cardmember anniversary. Because those points are worth ~1.5 cents each toward Southwest flights, you can be confident you’ll receive ~$90 in value from those points (1.5 cents per point X 6,000 points per anniversary). So with that perk alone, you’re essentially almost negating the annual fee.
For ongoing spending, this card doesn’t offer many super helpful benefits compared to other cards. Even if you fly Southwest a lot and would get a great value from the 2 Southwest points per $1 on paid tickets, you can accomplish the same earning rate from the Chase Sapphire Preferred Card (which everyone should have). That’s because you can transfer Chase Ultimate Rewards points from cards like the Chase Sapphire Preferred to Southwest at a 1:1 ratio.
Does the Chase Southwest Premier Have a Foreign Transaction Fee?
Who Is Eligible for the Chase Southwest Premier?
Chase will NOT approve you for most of their cards if you’ve opened 5+ cards from any bank (NOT counting Chase business cards and certain other business cards) in the past 24 months.
Another important note is that it’s no longer possible to have more than one personal Southwest card at the same time. But you can still get a business and a personal card!
Cards Similar to the Chase Southwest Premier
1. Ink Business Preferred
Apply Here: Ink Business Preferred℠ Credit Card
With the Ink Business Preferred, you can earn 80,000 Chase Ultimate Rewards points after you spend $5,000 on purchases in the first 3 months of opening your account. And because you can transfer Chase Ultimate Rewards points to Southwest at a 1:1 ratio, that’s like having 80,000 Southwest points!
This card also comes with benefits like:
- 3X Chase Ultimate Rewards points for every $1 you spend on travel, shipping purchases, internet, cable and phone services, advertising purchases made with social media sites, and search engines (up to a maximum of $150,000 in combined purchases per account anniversary year)
- 1X Chase Ultimate Rewards points on all other purchases
- Up to $600 in cell phone insurance when you pay your cell phone bill with the card
- 25% bonus when you redeem points through the Chase Ultimate Rewards travel portal
- Primary auto rental insurance when renting for business purposes, plus purchase and extended warranty protection
This card is fantastic for small business owners. It’s our TOP small business card recommendation because of its solid benefits and points earning rate. And it’s the highest public sign-up bonus we’ve seen for a Chase small business card.
2. Other Chase Southwest Cards
Apply Here: Southwest Rapid Rewards® Plus Credit Card
Apply Here: Southwest Rapid Rewards® Priority Credit Card
There are other personal Chase Southwest cards to consider, and each has the same welcome bonus as the Chase Southwest Premier. You’ll earn 40,000 Southwest points after spending $1,000 on purchases in the first 3 months of account opening:
- Southwest Rapid Rewards® Plus Credit Card – $69 annual fee
- Southwest Rapid Rewards® Priority Credit Card – $149 annual fee (this card comes with more perks than the others!)
If you don’t qualify for a personal card, consider:
- Southwest Rapid Rewards® Premier Business Credit Card – Earn 60,000 Southwest points after spending $3,000 on purchases in the first 3 months of account opening, $99 annual fee
The Chase Southwest Premier comes with 40,000 Southwest points after spending $1,000 on purchases in the first 3 months of account opening.
If you fly Southwest, you’ll have no trouble getting great value from this card. With the Southwest Companion Pass, a friend or family member flies with you for nearly free on paid and award tickets. If you make the most of it you could save hundreds (if not thousands) of dollars in airfare!