Southwest Card 60K Sign-Up Bonus Ends Thursday

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As I first wrote about in early June, Chase announced their biggest ever sign-up bonuses on the Southwest Rapid Rewards® Premier Credit Card and Southwest Rapid Rewards® Plus Credit Card. While these were known to be limited time offers, at the time an end date for the promotion hadn’t been given. Doctor of Credit notes that per a Southwest Facebook post, the increased sign-up bonuses on Southwest’s co-branded credit cards end on June 29, 2017.

If you were considering one of these cards, you have just a few days left to take advantage of these offers. As a reminder, the basic details of these sign-up bonuses are as follows:

Southwest Rapid Rewards Premier Card

  • Earn 60,000 bonus Rapid Rewards points after spending $2,000 within three months
  • $99 annual fee
  • Receive 6,000 bonus points on your cardmember anniversary every year

Southwest Rapid Rewards Plus Card

  • Earn 60,000 bonus Rapid Rewards points after spending $2,000 within three months
  • $69 annual fee
  • Receive 3,000 bonus points on your cardmember anniversary every year

You can potentially pick up both of these cards, though the bonuses aren’t available to those who currently have the card, or those who have received a new cardmember bonus on the card in the past 24 months.

Southwest Rapid Rewards is a revenue based frequent flyer program, meaning that the number of points required for a redemption is directly correlated to how much a ticket would cost in cash. Typically you can redeem points for up to 1.6 cents each towards a Wanna Get Away fare, meaning that 60,000 points could get you nearly $1,000 worth of airfare.

Even if you don’t want to redeem on Southwest, there could be value in this. You can redeem your Southwest points for gift cards for a variety of retailers, the most generally useful of which is probably Amazon. You can redeem 5,000 points for a $50 gift card, meaning that 60,000 points will get you a $600 gift card. This isn’t necessarily the most efficient use of Southwest points, but it’s something that should work for just about everyone, and shows the versatility of Southwest points.

Keep in mind that the points earned through the Southwest Rapid Rewards® Premier Credit Card and Southwest Rapid Rewards® Plus Credit Card also count towards Companion Pass, which lets you take a companion with you for free on Southwest whenever you fly. You can earn this either by taking 100 flights on Southwest in a calendar year, or by earning 110,000 Rapid Rewards points in a calendar year. Applying for both of these cards and earning the sign-up bonuses would get you more than enough points for Companion Pass.

The one “catch” here is that Southwest’s co-branded credit cards are subjected to the 5/24 rule, meaning that you generally won’t be approved for them if you’ve opened more than five new card accounts in the past 24 months. If you’re not eligible based on that, I’d instead consider a Chase card that isn’t subjected to that rule, including The Hyatt Credit CardIHG® Rewards Club Select Credit CardBritish Airways Visa Signature® Card, etc. These cards are extremely rewarding, and you can be approved even if you’ve opened more than five new card accounts in the past 24 months.

Bottom line

The increased sign-up bonuses on the Southwest Rapid Rewards® Premier Credit Card and Southwest Rapid Rewards® Plus Credit Card are the best we’ve ever seen. If you’re eligible for these bonuses and are a Southwest flyer, I’d seriously consider taking advantage of these offers, especially given that they can earn you Companion Pass with Southwest.

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Comments

  1. The email I got from SW last week says it expires on July 22 (after being extended previously to the 15th).

  2. Let’s say it does end on the 29th.
    If I apply then but my 5/24 eligibility doesn’t start until July 1 do you think I’ll be able to get the card?

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