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Deciding whether or not the Southwest Speedy Rewards® Premier Credit score Card is best for you is straightforward means asking your self a number of key questions. Listed below are the points you need to weigh to know whether or not this card can be a wise 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 Speedy Rewards® Premier Credit score Card: Earn 40,000 factors after you spend $1,000 on purchases within the first three months.
NerdWallet values Speedy Rewards factors between 1.5 cents and three cents every for Wanna Get Away fares, which is Southwest’s least expensive economic system providing. This implies your sign-up bonus might be value wherever from $600 to $1,200 towards airfare.
In order for you the sign-up bonus, the subsequent step is to consider whether or not you’ll earn it and the way. Think about whether or not your common spending can be sufficient to satisfy the edge, or should you’ll must plan some bigger purchases throughout the required timeframe.
Do I thoughts paying the annual payment?
Some journey bank cards will waive their annual payment for the primary 12 months, however that’s not the case right here. The annual payment for the Southwest Speedy Rewards® Premier Credit score Card is $99 from the very first billing cycle.
To make the cardboard value holding, you’ll must fly often 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, you could must earn extra rewards by way of spending to make the annual payment value paying.
Will my spending earn me bonus factors?
The Southwest Speedy Rewards® Premier Credit score Card solely affords 2x factors for purchases made via Southwest Airways and its resort and rental automotive companions. In order for you a wide range of classes for incomes past 1 level per greenback, this isn’t the cardboard for you.
Do I wish to redeem factors for economic system flights as a substitute of saving up for top notch?
Not like different giant airways, Southwest Airways doesn’t supply top notch journey. If you wish to use factors and miles for top notch 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 would like to have the ability to redeem your factors for flights quicker as a substitute of saving up for swanky tickets, this card is likely to be a great possibility. For example, 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 under 6,000 factors for a one-way fare.
Will I earn the Companion Go?
A giant perk of carrying a Southwest bank card is the flexibility to earn factors towards the coveted Companion Go. When you earn 110,000 Speedy Rewards factors (from flying, spending in your card and even the sign-up bonus) in a calendar 12 months, you’ll get the Companion Go, which lets you designate an individual to journey with you for the price of taxes and costs.
With out the Southwest Speedy Rewards® Premier Credit score Card, you’d need to earn these 110,000 factors principally via 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.
Nevertheless, placing your common bank card spending and sign-up bonus towards the Companion Go makes incomes it a lot simpler. And should you do go for the Companion Go, the worth you’ll acquire from having it ought to greater than make up for the $99 annual payment of your Southwest Speedy Rewards® Premier Credit score Card.
The underside line
When you can reply the above questions confidently, then Southwest Speedy Rewards® Premier Credit score Card is likely to be best for you. Don’t suppose it’s a great match? There are different Southwest playing cards you could wish to think about, or you’ll be able to look into different journey rewards card choices if you wish to use your factors and miles otherwise.
The way to maximize your rewards
You need a journey bank card that prioritizes what’s essential to you. Listed below 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:
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