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Southwest Fast Rewards Plus Credit score Card overview
The Southwest Fast Rewards Plus Credit score Card has the bottom annual charge of any Southwest bank card available on the market, which is both a energy or weak spot relying on the way you take a look at it. Whereas the $69 annual charge is inexpensive, the Plus card lacks the perks provided by its higher-priced counterparts to maintain you previous the preliminary welcome bonus. Card ranking*: ⭐⭐⭐
* Card ranking is predicated on the opinion of TPG’s editors and isn’t influenced by the cardboard issuer.
In a interest that feels dominated by ultra-premium bank cards with $450-plus annual charges and laundry lists of luxurious perks, it’s laborious to think about {that a} cobranded airline bank card with a $69 annual charge may be invaluable to loyal Southwest clients. Nevertheless, the Southwest Fast Rewards Plus Credit score Card does make sense for some flyers — in some instances.
Southwest is not any stranger to doing issues in a different way, together with providing three inexpensive private bank cards. With all three playing cards at present providing equivalent welcome bonuses — 60,000 bonus factors plus a 30% off promo code after spending $3,000 on purchases throughout the first three months of account opening — it’s much more vital to take a look at the variations amongst your three decisions.
Let’s check out how the Southwest Fast Rewards Plus Credit score Card and its perks measure up in opposition to its higher-end siblings.
Southwest Fast Rewards Plus welcome provide
New candidates for the Southwest Fast Rewards Plus Credit score Card can earn 60,000 bonus factors plus a 30% off promo code after spending $3,000 on purchases throughout the first three months of account opening.
TPG values Southwest Fast Rewards factors at 1.5 cents every, making 60,000 factors price $900.
That is the primary time Southwest has provided a promo code as a part of a sign-up bonus on a bank card. The code will seem straight in your Southwest.com account inside eight weeks of assembly the spending requirement. It may be used — solely as soon as — on a single one-way or round-trip Wanna Get Away, Wanna Get Away Plus, Anytime and Enterprise Choose fare, and is obtainable to be used till October 31, 2024.
Given it’s a single-use promo code, it could be greatest to save lots of this for a dearer ticket. You may get the largest financial savings when utilizing the code for round-trip journey and/or throughout peak journey durations just like the summer time or the vacations.
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Earlier than you rush to use for this card, there are two software guidelines to recollect. First, the Southwest Plus card is topic to Chase’s 5/24 rule. In the event you’ve opened 5 or extra new bank card accounts (from any financial institution, not simply Chase) up to now 24 months, you doubtless received’t be permitted for this card.
One other limitation applies particularly to Southwest bank cards. When you’ve got any private Southwest bank card — or earned a sign-up bonus on a private Southwest card within the final 24 months — you received’t be eligible for the bonus on this card. Luckily, this restriction is simply on private playing cards and doesn’t apply to Southwest enterprise bank cards. This implies you’ll be able to have each a Southwest private and a enterprise card open concurrently, which you would possibly need to do (that will help you earn the Companion Go when it’s not included in a welcome bonus).
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Incomes factors on the Southwest Fast Rewards Plus
With the Southwest Plus card, you’ll earn 2 factors per greenback on Southwest flights and with Fast Rewards lodge and rental automotive companions. This can be a 3% return on spending, based mostly on TPG’s valuations.
You’ll additionally earn 2 factors per greenback on native transit and commuting (together with ride-hailing apps), 2 factors per greenback on web, cable and cellphone companies, 2 factors per greenback on choose streaming companies and 1 level per greenback on different purchases.
It’s price stating that purchases outdoors the U.S. will nonetheless earn bonus factors at these identical charges, however you’ll pay a overseas transaction charge of three%. Thus, this isn’t card for purchases in different nations.
Redeeming factors on the Southwest Fast Rewards Plus
Fast Rewards provides a couple of low-value redemption choices, together with reward playing cards, merchandise, lodge stays, rental automobiles and journey experiences. You possibly can even redeem for worldwide flights on different carriers. Nevertheless, the redemption values on these choices are worse than what you’ll get when utilizing your factors for Southwest flights.
The airline provides 4 tiers of fares, starting from the most affordable Wanna Get Away tickets to the dearer Enterprise Choose choice — with Wanna Get Away Plus and Anytime fares in between.
Award pricing is tied to the money value of the tickets. Thus, the variety of factors you want will go up or down relying on the money value of the flight. The optimistic right here is that utilizing your factors for Southwest flights is sort of at all times attainable.
Associated: Learn how to redeem factors with the Southwest Fast Rewards program
Southwest Fast Rewards Plus advantages
There are perks on the Southwest Fast Rewards Plus card that transcend the Companion Go or the factors from the sign-up bonus. You’ll get pleasure from the next ongoing advantages in trade for the cardboard’s $69 annual charge:
- Reimbursement for as much as two EarlyBird check-ins each card anniversary.
- 3,000 bonus factors every account anniversary 12 months, price $45 in TPG’s valuations.
- 25% again on inflight purchases of drinks and Wi-Fi on Southwest Airways flights.
- Roadside dispatch supplies around-the-clock availability for roadside companies, although you’ll pay for any companies offered.
- Prolonged guarantee safety provides as much as one 12 months added to eligible producers’ warranties of three years or much less.
- Journey accident insurance coverage for unintended loss of life or dismemberment whereas touring.
- Baggage delay insurance coverage of as much as $100 per day for as much as three days for bags delays of six hours or extra.
- Misplaced baggage reimbursement of as much as $3,000 per passenger.
- Buy safety: As much as $500 of harm or theft protection for 120 days for eligible purchases you make in your card — with a restrict of $50,000 per account.
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Which playing cards compete with the Southwest Fast Rewards Plus?
The obvious opponents to the Southwest Fast Rewards Plus Credit score Card are the opposite Southwest bank cards. Nevertheless, it’s additionally price contemplating whether or not a basic journey bank card would possibly match higher in your pockets.
- If you would like extra Southwest advantages with a modest charge: The Southwest Fast Rewards Premier Credit score Card has the identical welcome bonus however additional perks to justify its $99 annual charge. These embrace 6,000 anniversary bonus factors, 2 EarlyBird check-ins per 12 months, 25% again on inflight purchases and incomes 1,500 tier qualifying factors towards A-Record standing for every $10,000 spent on the cardboard. For extra particulars, learn our full assessment of the Southwest Premier card.
- In the event you fly Southwest often and wish probably the most perks: The Southwest Fast Rewards Precedence Credit score Card is the premium Southwest bank card, providing 7,500 anniversary bonus factors, and a $75 Southwest journey credit score every year. The cardboard has a $149 annual charge. For extra particulars, learn our full assessment of the Southwest Precedence card.
- If you would like extra factors that can be utilized with Southwest and in different methods: The Chase Sapphire Most well-liked Card is an effective alternative for incomes Chase Final Rewards factors, which you’ll be able to redeem with Southwest but additionally with different airline and lodge companions. You’ll get quite a few journey protections, as properly, and the cardboard has a $95 annual charge. For extra data, learn our full assessment of the Sapphire Most well-liked.
For extra choices, take a look at our full checklist of the very best journey bank cards and greatest Chase bank cards.
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Is the Southwest Fast Rewards Plus price it?
The Southwest Plus card has the bottom annual charge of the Southwest bank cards: $69 per 12 months. Its 3,000 anniversary bonus factors are price $45 in TPG’s valuations. This profit alone knocks the efficient annual charge all the way down to $24. Nevertheless, one of many different two private playing cards will characterize higher worth in case you’re loyal to Southwest.
Backside line
For less than $69 per 12 months, the Southwest Fast Rewards Plus card comes with a sign-up bonus that’s sufficient to make this card price contemplating, along with the bonus factors you should use without cost flights. Past the welcome bonus, the cardboard provides a handful of advantages and perks that may justify retaining the cardboard in your pockets yearly.
In the event you fly with Southwest usually, although, one of many different two Southwest playing cards will present extra perks. Make sure to consider what’s greatest for you past merely wanting on the annual charge and the welcome bonus.
Official software hyperlink: Southwest Fast Rewards Plus Credit score Card
Further reporting by Ryan Wilcox, Stella Shon, Christina Ly and Ryan Smith.