At NerdWallet, we attempt that can assist you make monetary selections with confidence. To do that, many or all the merchandise featured listed below are from our companions. Nonetheless, this doesn’t affect our evaluations. Our opinions are our personal.
Deciding whether or not the Southwest Fast Rewards® Premier Credit score Card is best for you is easy means asking your self just a few key questions. Listed here are the facets you need to weigh to grasp whether or not this card might be a sensible addition to your pockets.
Is the sign-up bonus interesting to me? Will I earn it?
Right here’s the present sign-up bonus supply on the Southwest Fast Rewards® Premier Credit score Card: Earn 40,000 factors after you spend $1,000 on purchases within the first three months.
NerdWallet values Fast Rewards factors between 1.5 cents and three cents every for Wanna Get Away fares, which is Southwest’s least expensive financial system providing. This implies your sign-up bonus may very well be value wherever from $600 to $1,200 towards airfare.
If you would like the sign-up bonus, the following step is to consider whether or not you’ll earn it and the way. Contemplate whether or not your common spending might be sufficient to fulfill the edge, or when you’ll must plan some bigger purchases through the required timeframe.
Do I thoughts paying the annual charge?
Some journey bank cards will waive their annual charge for the primary 12 months, however that’s not the case right here. The annual charge for the Southwest Fast Rewards® Premier Credit score Card is $99 from the very first billing cycle.
To make the cardboard value protecting, you’ll must fly frequently with Southwest Airways and plan to make use of this card for many of your purchases. Whereas the 6,000-point anniversary bonus is a pleasant perk, it’s possible you’ll must earn extra rewards by way of spending to make the annual charge value paying.
Will my spending earn me bonus factors?
The Southwest Fast Rewards® Premier Credit score Card solely gives 2x factors for purchases made by Southwest Airways and its lodge and rental automobile companions. If you would like a wide range of classes for incomes past 1 level per greenback, this isn’t the cardboard for you.
Do I need to redeem factors for financial system flights as a substitute of saving up for top quality?
In contrast to different massive airways, Southwest Airways doesn’t supply top quality journey. If you wish to use factors and miles for top quality fares and upgrades, this card isn’t for you. In that case, you’d be higher off with one other airline bank card.
However if you need to have the ability to redeem your factors for flights sooner as a substitute of saving up for swanky tickets, this card is perhaps a superb possibility. As an illustration, you couldn’t do a lot with the anniversary bonus of 6,000 factors/miles on most different airways. With Southwest, these factors might go farther since reward costs are tied to the (comparatively low) price of money fares. For instance, we discovered loads of award ticket choices at or beneath 6,000 factors for a one-way fare.
Will I earn the Companion Move?
A giant perk of carrying a Southwest bank card is the power to earn factors towards the coveted Companion Move. When you earn 110,000 Fast Rewards factors (from flying, spending in your card and even the sign-up bonus) in a calendar 12 months, you’ll get the Companion Move, which lets you designate an individual to journey with you for the price of taxes and costs.
With out the Southwest Fast Rewards® Premier Credit score Card, you’d must earn these 110,000 factors principally by journey. With earnings charges of 6 to 12 factors per greenback on base fares, which means spending a minimal of $9,167 on Enterprise Choose fares in a single calendar 12 months.
Nonetheless, placing your common bank card spending and sign-up bonus towards the Companion Move makes incomes it a lot simpler. And when you do go for the Companion Move, the worth you’ll achieve from having it ought to greater than make up for the $99 annual charge of your Southwest Fast Rewards® Premier Credit score Card.
The underside line
Should you can reply the above questions confidently, then Southwest Fast Rewards® Premier Credit score Card is perhaps best for you. Don’t suppose it’s a superb match? There are different Southwest playing cards it’s possible you’ll need to contemplate, or you’ll be able to look into different journey rewards card choices if you wish to use your factors and miles in another way.
Tips on how to maximize your rewards
You desire a journey bank card that prioritizes what’s necessary to you. Listed here are our picks for the most effective journey bank cards of 2019, together with these finest for:
Planning a visit? Take a look at these articles for extra inspiration and recommendation:
Discover the most effective journey bank card for you
Snag these lodge loyalty perks, even when you’re disloyal
Earn extra factors and miles with these 6 methods