Southwest Rapid Rewards® Premier Credit Card

Quick Snapshot

• Annual Fee: $149
• APR: 21.49%-28.49% variable
• Rewards: 3X on Southwest, 2X on transit/commuting, 1X on everything else
• Bonus: 65,000 bonus points after $2,000 in purchases in the first 3 months
• Best For: Regular Southwest flyers who want higher earning and generous anniversary points
• Credit Needed: Good to Excellent (670+)

Overview

The Southwest Rapid Rewards Premier Credit Card is the mid-tier option for Southwest loyalists, offering higher earning rates and double the anniversary points compared to the Plus card. With 3X points on Southwest purchases, 2X on transit and commuting, and 1X on everything else, it is better suited for travelers who fly Southwest regularly and want to accelerate their Rapid Rewards balance.

The 65,000-point welcome bonus after spending $2,000 in three months is worth approximately $910-$1,040, enough for three to four one-way domestic Southwest flights. The 6,000 anniversary points each year ($90 value) help offset the $149 annual fee, and the transit bonus category adds everyday earning potential for urban commuters.

Like all Southwest cards, the Premier benefits from the airline's customer-friendly policies: two free checked bags, no change or cancellation fees, and no seat assignment fees. The points earned count toward the Companion Pass, making the Premier card a stronger vehicle for reaching that 135,000-point threshold. For Southwest flyers who take five or more trips per year, the Premier card's higher earning rates justify the step up from the Plus.

APR Breakdown

• Purchase APR: 21.49%-28.49% variable
• Balance Transfer APR: 21.49%-28.49% variable
• Cash Advance APR: 29.99% variable
• Penalty APR: None

Note: Your APR will vary with the market based on the Prime Rate. There is no penalty APR, but a late payment fee may apply.

Benefits Overview

Enhanced Earning

• 3X points on Southwest Airlines purchases
• 2X points on Rapid Rewards hotel and car rental partner purchases
• 2X points on local transit and commuting
• 1X point on all other purchases
• No caps on point earning in any category

Anniversary and Status

• 6,000 anniversary bonus points each card renewal year
• Points count toward the Companion Pass (135,000-point threshold)
• Qualifying points toward A-List and A-List Preferred status
• Tier qualifying points from every dollar spent on the card

Southwest Benefits

• 2 free checked bags per passenger on all Southwest flights (airline policy)
• No change or cancellation fees on Southwest flights
• No foreign transaction fees
• Points never expire with qualifying account activity

Rewards & Points

• 3X points on Southwest Airlines purchases
• 2X points on local transit and commuting
• 1X point on all other purchases

Southwest Rapid Rewards points are worth approximately 1.4-1.6 cents each on Southwest flights. The Premier's 3X rate on Southwest purchases accelerates point accumulation faster than the Plus card's 2X rate. Card spending counts toward the Companion Pass threshold, which lets a designated companion fly free on every Southwest flight for a calendar year.

Welcome Bonus

Earn 65,000 bonus Rapid Rewards points after spending $2,000 on purchases in the first 3 months of account opening. At average Southwest valuations, 65,000 points are worth approximately $910-$1,040, enough for three to four one-way domestic flights on Southwest Airlines.

Fees Summary

• Annual Fee: $149
• Balance Transfer Fee: 5% (min $5)
• Cash Advance Fee: 5% (min $10)
• Foreign Transaction Fee: $0
• Late Payment Fee: Up to $40
• Returned Payment Fee: Up to $40

Who This Card Is Best For

Ideal For

• Regular Southwest flyers who fly Southwest five or more times per year and want higher point earning
• Urban commuters who spend on transit and want 2X earning on their daily commute
• Companion Pass seekers who want card spending to count toward the 135,000-point threshold faster
• Mid-tier cardholders who want more earning and anniversary points than the Plus but less cost than the Priority

Not Good For

• Infrequent Southwest flyers who fly Southwest fewer than 3 times per year and cannot justify $149
• Dining and gas spenders who want bonus categories beyond transit and Southwest purchases
• Premium perk seekers who want travel credits, lounge access, or statement credits with their card

Key Pros & Cons

Pros

• 3X on Southwest purchases earns points 50% faster than the Plus card
• 65,000-point welcome bonus is worth approximately $910-$1,040
• 6,000 anniversary points ($90 value) help offset the $149 annual fee
• 2X on transit and commuting is useful for daily urban spending
• Points count toward the valuable Companion Pass
• 2 free checked bags per passenger on all Southwest flights (airline policy)
• No change or cancellation fees on Southwest flights
• No foreign transaction fees
• Stronger Companion Pass vehicle than the Plus card due to higher earning
• Points never expire with qualifying account activity

Cons

• $149 annual fee is a meaningful step up from the Plus card's $69
• 1X on non-bonus purchases is still a low base rate
• No bonus categories for dining, gas, or groceries
• No travel credits or statement credits beyond anniversary points
• No airport lounge access included
• Southwest does not fly to most international destinations
• Limited to Southwest and partner redemptions for best value
• No trip delay or cancellation insurance

Alternatives to Consider

How the Rewards Add Up

Example Annual Value

Total estimated first-year value: $1,542 including the welcome bonus (valued at $975 at 1.5 cents per point). Ongoing annual value after year one is approximately $567 against the $149 fee.

Should You Get This Card?

You Should Get It If...

• You fly Southwest five or more times per year and want to maximize point earning
• You commute by transit and want 2X on your daily travel spending
• You are actively pursuing the Companion Pass and need higher card earning rates
• You want double the anniversary points compared to the Plus card
• You prefer Southwest's customer-friendly policies over legacy carriers
• You want a stronger Southwest card without the Priority card's higher fee

You Should Skip It If...

• You fly Southwest fewer than 3 times per year and cannot offset the $149 fee
• You want bonus earning on dining and gas, which the Premier does not offer
• You prefer the Plus card's lower $69 fee for basic Southwest earning
• You want travel credits like the Priority card's $75 Southwest credit
• You primarily fly airlines other than Southwest

Apply Now

Apply for Southwest Rapid Rewards® Premier Credit Card

Information accurate as of May 2026. Terms and conditions apply. Please visit the issuer's website for the most current information.