Southwest Credit Card Review
Southwest is not only a fantastic airline; it also is one of the premier credit card providers in the nation. A company that was once only known for their cheap flight and free bags, are now known for great credit cards that reward you with high points, low annual fees, and a competitive APR.
Here, I am going to outline the credit card, their features, and why you should, or should not start a credit line with Southwest using one of these cards. Although there are 4 different kinds of credit cards, each one has its own features that make it unique, and a good option depending on your financial situation.
Southwest Rapid Rewards Plus Credit Card
This credit card is one of the most popular credit cards available, and the most popular southwest card. It features a 40,000-point signup promo, and a annual fee of $69. You will find out that this fee is one of the lowest out there for non-student credit cards. The APR for the Southwest Rapid Rewards Plus Credit Card is 17.49%-24.49%, which you will find is standard across all credit cards. Apart from these, everything else is cookie cutter; an excellent credit needed to apply, 3% foreign transfer fee’s, and points added to your account on your credit anniversary. The earning rate for this card is 2 points/$1 spent on Southwest, and 1 point/$1 spent on everything else
Southwest Rapid Rewards Premier Credit Card
The Rapid Rewards Premier Card is very similar to the plus card, with a few difference (upgrades). The sign-up points are still 40,000, and the APR is the same, but the Fee is $99, with a anniversary bonus of 6000 compared to 3000. The foreign transfer fees are waived for this card as well, which is a bonus for those traveling abroad often. The earnings rate is; 2 points/$1 spent on Southwest, 1 point/$1 spent on all other purchases.
Southwest Plus Business Credit Card
Southwest has a great credit card for businesses, especially those that make big purchases frequently. The signup promo for this card is the same as the previous two, 40,000, and the anniversary point bonus is 3,000. However, where this card stands apart is in its APR, which is only 15.00%, one of the lowest APRs on any credit card. The earnings rate is the same with 2 points for every $1 spent on southwest, and 1 point for every dollar spent everywhere else.
Southwest Rapid Rewards Premier Business Credit Card
This credit card is for the “top of the line” businesses, and their features show it. The card comes with 60,000 points, a 6,000-point anniversary bonus, and a waived transfer fee. Basically, it is the same upgraded card as the rapid rewards cards.
What Card Should I Go With?
Well, looking at the features, we can split this up into two categories; business owners looking for a credit card, and individuals looking for credit cards. If you are a business owner, you are going to want to decide whether you are more drawn to initial point promos, or overall APR. If you want quick points fast, then the Premier Business Credit Card is the way to go, being that you receive 20,000 more points. However, the Southwest Plus Business Credit Card has the lowest APR I have seen, and will pay dividends in terms of how much you owe in the future.
Turning the page, let’s look at what card is best for individuals. Since both cards require excellent credit, you are going to have to look at how much money you will spend with the card. If you are spending more than $10,000 annually on a credit card, you are going to want to go with the Premier Credit Card. This card has a Tier Qualifying Status which will earn you more points on Southwest and Regular purchases.
All the cards are great options for individuals and credit cards. When choosing credit cards, you are going to want to do your research, and determine what features are more important to you. However, when looking for credit cards, you should start with Southwest. They have been at the top of the line for credit cards for years, and continue to reward their members with fantastic deals, great payment plans, and low interest rates.