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INSIDER SECRET: The bonus points you earn each card anniversary will nearly negate the annual fee when you redeem them for Southwest flights.
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 rich welcome bonus, and even comes with solid ongoing benefits like 6,000 points every cardmember anniversary, travel insurance and more.
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.
Further reading: Southwest Companion Pass
Chase Southwest Premier bonus
With the Chase Southwest Premier, you’ll earn up to 60,000 Southwest points:
- 40,000 points after you spend $1,000 on purchases in the first three months your account is open
- 20,000 points after you spend $12,000 on purchases in the first 12 months your account is open
You can bet on receiving a value of 1.5 cents per Southwest point, so this 60,000 point bonus is worth ~$900 in Southwest travel. And those points will count toward the Southwest points needed to earn the holy grail of travel, the Southwest Companion Pass.
With Southwest 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 110,000 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 2020.
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.
Is the Chase Southwest Premier worth it?
The card’s 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 them (1.5 cents per point X 6,000 points per anniversary). So with that perk alone, you’re negating almost all of 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 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.
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.
Further reading: Chase 5/24 rule
Another important note is that it’s no longer possible to have more than one personal Southwest card at the same time. However, you can still get a business and a personal card. Earning both card bonuses would immediately qualify you for a Southwest Companion Pass.
How to earn points with the Chase Southwest Premier
Here’s how to earn points with the Chase Southwest Premier:
- 2 Southwest points per dollar on Southwest Airlines purchases
- 1 Southwest point per dollar on every other purchase
Further reading: How to earn Southwest 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 60,000 Southwest points you’ll earn from this card’s sign-up bonus, you can expect to receive a value of ~$900.
Further reading: Southwest points value
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.
Does the Chase Southwest Premier have a foreign transaction fee?
Chase Southwest Premier customer service
This is a Chase card and Chase has overall excellent customer service. When you call Chase, a human being answers the phone, so you won’t need to negotiate an automated labyrinth.
Cards similar to the Chase Southwest Premier
Southwest is a Chase Ultimate Rewards points transfer partner, so any cards that earn Ultimate Rewards can be converted into Southwest points, such as the Ink Business Preferred.
With the Ink Business Preferred, you can earn 80,000 Chase Ultimate Rewards points after you spend $5,000 on purchases in the first three months of opening your account. Because you can transfer Chase Ultimate Rewards points to Southwest at a 1:1 ratio, that’s like having 80,000 Southwest points. Just note that these points won’t count toward the 110,000 points needed for the Companion Pass.
This card also comes with benefits like:
- 3 Chase Ultimate Rewards points for every dollar 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)
- 1 Chase Ultimate Rewards point per dollar on all other purchases
- Up to $600 in cellphone insurance when you pay your cellphone bill with the card
- 25% bonus when you redeem points through the Chase Ultimate Rewards travel portal
- Primary car rental insurance when renting for business purposes, plus purchase and extended warranty protection
The Ink Business Preferred 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.
There are other personal Chase Southwest cards to consider, too. Each has the same welcome bonus as the Chase Southwest Premier. You’ll earn 60,000 Southwest points after spending $1,000 on purchases in the first three 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 – 60,000 Southwest points after spending $3,000 on purchases in the first three months of account opening, $99 annual fee
- Southwest Rapid Rewards® Performance Business Credit Card – 80,000 bonus points after spending $5,000 on purchases in the first three months of account opening (yowza!)
The Chase Southwest Premier comes with a welcome bonus of 60,000 Southwest points after spending $1,000 on purchases in the first three 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.
For more about the Chase Southwest Premier and Southwest points, check out our guides:
- Is the Southwest Premier card worth it?
- Chase Southwest Premier benefits and perks
- Southwest Rapid Rewards review
- Southwest points value
- Southwest status
- Best way to use Southwest points
- How to use the Southwest Companion Pass
- How to earn Southwest Points
- How to set up a Southwest account
- How to use Southwest points
- Southwest award chart
- Do Southwest points expire?
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