Chase Southwest Premier credit card review

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If you fly Southwest often, or if Southwest serves your home airport, you’ll get huge amounts of travel from the Southwest Rapid Rewards® Premier Credit Card. It’s got a solid sign-up bonus, and even comes with solid ongoing benefits like 6,000 points every cardmember anniversary, travel insurance and more. It’s certainly one of the best Southwest credit cards available.

Most importantly, the Chase Southwest Premier is a big boost if you’re trying to earn the best deal in travel, the Southwest Companion Pass. I’ll show you why.

Southwest Premier card review: You could fly to Costa Rica for nearly free by using Southwest points from the welcome bonus. (Photo by William Berry/Shutterstock)

Who is this card for?

First, we recommend you don’t apply for travel cards unless your credit score is 700 or above.

The Chase Southwest Premier card is also subject to Chase’s strict application policy, known as the Chase 5/24 rule. Chase won’t approve you for most of their cards if you’ve opened five or more cards from any bank (not counting Chase business cards and certain other business cards) in the past 24 months. If this is you, wait until you fall below five cards in 24 months.

Another important note is that it’s no longer possible to have more than one personal Southwest card at the same time.

Current bonus

With the Chase Southwest Premier, you can earn 40,000 Southwest points after spending $1,000 on purchases within your first three months of account opening.

Southwest points value is around 1.5 cents each (based on our valuations), so this 40,000 point bonus is worth ~$600 in Southwest travel. And those points will count toward the points needed to earn the holy grail of travel, the Southwest Companion Pass.

With the Companion Pass, you can bring a companion with you on any Southwest flight for nearly free (you’ll only be charged taxes, which is usually ~$11 for round-trip flights in the U.S.). This is a great way to enjoy more travel with your family and friends.

You’ll need to earn 125,000 Southwest points in a calendar year to earn a Companion Pass, which equates to a lot of flying (or spending). But one of the best perks of the Chase Southwest Premier card is that all points earned with this card count toward your Companion Pass, including the sign-up bonus. This makes it one of the easiest methods for earning the Companion Pass.

After you earn it, you can enjoy the Companion Pass for the remainder of the calendar year that you earn it in, plus the next year. So if you earned it tomorrow, you could bring a travel buddy for free through December 2021.

Benefits and perks of the Chase Southwest Premier

Bonus 6,000 Southwest points each year

Chase Southwest Premier cardholders earn 6,000 bonus points each year on their cardmember anniversary. These points have no minimum spending requirement; you simply get them each year you renew your card (i.e., pay the annual fee).

With an average value of ~1.5 cents per Southwest point, this bonus is worth ~$90 per year in travel on Southwest.

Car rental insurance

Since this card is designed for folks who like to travel, it is great to see a whole host of different travel benefits also offered through the Chase Southwest Premier.

When you book a rental car with this credit card, you will have the protection of car rental insurance against damage due to collision and theft. This coverage is secondary to your primary insurance. In other words, if you have auto insurance, this will only cover what your personal insurance doesn’t.

Baggage delay insurance

If your bags arrive at your destination six or more hours after you, then you and your immediate family are eligible for baggage delay compensation. You can receive up to $100 per day (maximum three days), but you must charge at least part of your airfare to your Chase Southwest Premier to be covered.

Lost luggage insurance

If your luggage is lost by the airline, you and your immediate family are covered for up to $3,000 per passenger. This coverage protects both your checked luggage and carry-on luggage that is damaged as a result of carrier negligence.

Travel accident insurance

When you pay for your air, bus, train or cruise transportation with your card, you are eligible to receive up to $500,000 in travel accident insurance. Examples of covered tragedies are:

  • Loss of speech and hearing
  • Loss of sight
  • Loss of hands or feet

Extended warranty protection

It can be smart to use this card for everyday purchases. Not only will you earn Southwest points on all purchases but you can also enjoy purchase-protection benefits. This is especially useful when buying electronics and appliances.

With extended warranty protection, you’ll receive an additional year on eligible U.S. manufacturer’s warranties of three years or less. And you’re covered for a maximum of $10,000 per claim and $50,000 per account. So if you use your Chase Southwest Premier to purchase a TV that comes with a one-year warranty, the card will extend your warranty to a total of two years. That’s a pretty good deal, and it doesn’t cost you anything extra. Just make sure you use this card for your purchase.

This is especially cool since many things now are coming with manufacturer warranties of only 90 days.

Insurance against damage and theft

As an additional purchase protection, any eligible new purchases with your card are protected for 120 days against damage and theft. This applies up to $500 per claim and $50,000 per account.

You can read our post dedicated to Chase Southwest Premier benefits and perks for full details.

How to earn points with the Chase Southwest Premier

Here’s how to earn Southwest points with this card:

  • 2 Southwest points per dollar on Southwest Airlines purchases
  • 1 Southwest point per dollar on every other purchase

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.

Again, Southwest points value is an average of ~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 two free checked bags and free cancellations and changes with any fare.

Is the annual fee worth it?

The card’s annual fee is $99 and is applied during your first billing statement.

This card doesn’t offer many super-helpful benefits compared to many of the best credit cards for travel. Even if you fly Southwest a lot and would get a great value from the two Southwest points per dollar 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.

Because you’ll receive 6,000 points every cardmember anniversary (worth about $90 in value for Southwest flights), you’re offsetting nearly all of the annual fee. If you’ll use any of the other benefits, the Chase Southwest Premier is worth the annual fee.

Insider secret

It’s true that you cannot have more than one personal Southwest card at once. However, you can hold a business and a personal card at once. In fact, earning both card bonuses would nearly qualify you for a Southwest Companion Pass! You need to earn 125,000 qualifying Southwest points in a calendar year to receive it. If you’re in the market for a Companion Pass, this is one of the best airline credit cards for you.

Bottom line

The Chase Southwest Premier comes with a welcome bonus of 40,000 Southwest points after meeting the minimum spending requirements. 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.

For the latest tips and tricks on traveling big without spending a fortune, please subscribe to the Million Mile Secrets daily email newsletter.

Joseph Hostetler is a full-time writer for Million Mile Secrets, covering miles and points tips and tricks, as well as helpful travel-related news and deals.

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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JW
2 months ago

See if you also qualify for a new member bonus of 20,000 points when spending $12,000 in the first year.

Eric
1 year ago

Spend $12,000? That’s hardly a bonus. Forget it.

KW
1 year ago

I have a current Personal Premier card which I received the bonus in July of 2017. Based on the new bonus contract language, it sounds like I need to cancel the Personal Premier card before I would be eligible for the $60,000.00 bonus. How long does it have to be canceled for before making a new application? 1 day, 1 week, 1 month, etc? Also since I received the bonus in July of 2017 on the Premier card, would I be eligible for the bonus of the Plus Card now(assuming my Premier card is canceled) or do I need to wait until Aug 2019?

Patty
1 year ago

I don’t have it. I don’t plan to get it…yet. The companion pass is awesome for those who can use it. Right now we are waiting on employment options and I don’t want to get the pass if we won’t be able t use it the next couple of years. So I’m waiting till we know what we are doing with work!

AJ
1 year ago

I have had the Chase Southwest Premier card for several years.

Debbie
1 year ago

I don’t have it now but plan on getting it soon!

Karl P
1 year ago

I don’t have the Southwest Premier card but I will get it once I get below 5/24.

Candace
1 year ago

I am working towards getting my Chase Southwest Premier card! A few more months and I will be less than 5/24! Whew!

Eric
1 year ago

I do not have the Chase Southwest Premier card but I plan to get it once I hit below 5/24.

Gayle
1 year ago

I already have a SW card. I don’t have room for more than one at this time.

Cabet
1 year ago

Have the Southwest Premier Business and will hang with that for now.

Josy
1 year ago

I don’t have the Chase Southwest Premier yet, but i’ve been hearing so much about it and want to get it as my next credit card.

Amanda
1 year ago

I don’t have the Chase Southwest Premier, but I do have 2 other Southwest cards so I am not planning to get it anytime soon!

Luke US
1 year ago

I don’t have the card unfortunately (5/24), but plan to get it in 2019.

Maggie Chen
1 year ago

Yes, I have the card!

Shim
1 year ago

I DON’T have one unfortunately because of chase’s cruel monopoly 5/24 policy

Gymrat
1 year ago

I don’t have the card now, but plan to get it in early 2019.

rmah
1 year ago

don’t have it today. i hope to be approved by tomorrow!

Thane
1 year ago

Yes, SW cards are great to have.

Brian
1 year ago

I don’t have the Chase Southwest Premier card, and am not planning on getting it

Alison
1 year ago

Do not have the card, but will consider adding it as my next card.

Tari Hanneman
1 year ago

Don’t have this one, but it is tempting.

A.
1 year ago

Don’t have the card yet but plan on applying in the near future!

Barb
1 year ago

Keeping it in mind once I’m beyond Chase’s 5/24 rule.

Nadia F.
1 year ago

I don’t have the card, but wouldn’t mind applying for it though I know I’ll be denied due to 5/24 rule.

Tay
1 year ago

Ive definitely thought about grabbing the card, ut I’m not sure if its right for me.

Daniel F.
1 year ago

No, I don’t have the Chase Southwest Premier card, but I plan on applying for it at the beginning of 2019.

don
1 year ago

I’ve only flown Southwest for the last 2 years. Having the companion pass and points is the ultimate in value and flexibility.

Sashi
1 year ago

Love flying Southwest. The customer service is top notch and the free baggage is always welcome 🙂
Use my CSP generally for booking flights on Southwest but am leaning towards getting a Southwest Premier as i am expecting more travels in the next year or so and probably aim for a CP.

Rohan
1 year ago

Wife has southwest premier. It’s good for the bonuses but not other spending beyond that if you have a Reserve card or other luxury travel card.

tiffany
1 year ago

don’t have the card and don’t plan on getting it

Tim
1 year ago

Got Biz and Plus for CP early this year before Premier came out. Look forward to wife getting Premier end of next year (+Biz) to have CP for another two years.

Broc
1 year ago

My local airport isn’t served by Southwest, though I used to drive 2 hours to fly Southwest – or a legacy carrier who price matched them. Now, my local airport has much better pricing, and thus I haven’t flown LUV in awhile. Therefore, no need for the credit card at the moment!

Bob
1 year ago

I have the Southwest premiere card which helped me get the companion pass!

Lynn
1 year ago

Hubby and I have both had the companion pass with 2 of the credit cards in the past. But since the 5/24 rule, we don’t qualify anymore. I’m surprised that Emily qualifies?!
Thanks!

Dianna
1 year ago

I have the Southwest premier card. Great for points and travel!

Loraine
1 year ago

I would love to get any Southwest card, including the Premier in order to get the companion pass, but I couldn’t get it last time due to the 5/24 rule at Chase. Now, I just have too many cards at Chase, so it’s unlikely I can get approved. Waiting on the next big card!

Julie
1 year ago

I don’t have this card yet but it looks like a great deal!

Ernest B
1 year ago

I have the Southwest Premier card and it is a keeper. I will probably upgrade to the Priority card, but only if I am offered the 5000 point bonus.

Tara
1 year ago

Not yet, but they CP is on radar!

Louie
1 year ago

I’d love to get this card, the benefits are very valuable. But I already have four Chase cards, I don’t want to trigger a financial review.

Tricia
1 year ago

I currently have the Chase Southwest RR Plus and plan to hold on to that card for now.

Liz
1 year ago

I don’t have it, but plan on getting it eventually.

FubarActual
1 year ago

Don’t have it yet, but it’s on my to do list.

Regina
1 year ago

I have received an offer for this card and it is tempting. I am definitely thinking about it.

Lane Wood
1 year ago

I don’t have the Southwest premier card, but I plan on getting it!

Jennifer
1 year ago

I already have a the Plus and biz cards (and a CP through 2019)!

GetToThePoints
1 year ago

It is next on my list of cards to get!

Natalie
1 year ago

Thinking of getting it as Southwest is great for family travel!

Kyle
1 year ago

I don’t have this Southwest card, but I do have the plus, as well as the business premier. Got them both late last year/early this year, so I was able to time it perfectly and earn the Companion Pass for almost 2 whole years! It’s been amazing and have several more trips to go. I love that you can change your companion as I’ve done so now a couple times this year and plan to a couple next year too!

Michael
1 year ago

I don’t have the card yet, but it’s on my list.

Marcy
1 year ago

Don’t have it now, it did in the past and used it to get the Companion Pass. It’s my husband’s turn now to get it but we’ll wait for a sweeter offer. We fly Southwest a lot

ScottS
1 year ago

We have yet to fly southwest, although the companion pass is intriguing. We have been collecting SW points for 5 years and will someday have enough to book a flight. We don’t fly much to places in the US, mostly out of the country.

Mario Carr
1 year ago

I don’t presently have the card but would consider it for the companion pass

Hal
1 year ago

Definitely plan to get the card soon to complete points required for Companion Pass, but am waiting for sweetened sign up bonus.

Shawn
1 year ago

On January 1 we’ll be signing up for the Southwest Premier card and making our best attempt to get a companion pass. Finger crosses they raise the signup bonus to 50K!

Kathleen Forest
1 year ago

I’ve got the card! Used it to help earn Companion Pass!

Chris
1 year ago

Have and use it just primarily for SW flights and car rentals but love to throw in points from Ultimate Rewards. With all the benefits it’s basically free to have.

Cam
1 year ago

My wife got the business and personal SW cards earlier this year, earning companion pass through the end of 2019! We’ve been traveling as much as possible while we have the added benefit of our 18 month old daughter also traveling for free! 3 for 1 travel has been awesome…..waiting for Hawaii announcement!

Sue
1 year ago

I don’t have it. But I plan to get one soon:

Viv
1 year ago

I want it!

ej
1 year ago

I will probably wait for an increased bonus offer before getting it. I would like it to be 50 or 60K.

Lorinda
1 year ago

I have the SW Premier card but don’t use it much. It just isn’t that useful to me (after I received the bonus, of course.)

Jennifer
1 year ago

I don’t have one and I am way over 5/24 so it doesn’t look like I will be getting one anytime soon

Alan Rutherford
1 year ago

I am vying to acquire the Southwest Premier Card next year in addition to the business card. I would like to time it right to get the companion pass for 2 full years. 2020 thru 2021. Any & all help is greatly appreciated!!

Shatara Walters
1 year ago

I love Southwest Airlines! It is my preferred airline.

Kaz
1 year ago

I don’t have one but I plan to get it!