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Card Economics
Annual Fee
$149
Ongoing Annual Value
$75
First-Year Value Estimate
$539
Net Value
−$74
Card type: PersonalForeign transaction fee: NoneCurrency: Southwest Rapid Rewards
Southwest Rapid Rewards Premier

Southwest Rapid Rewards Premier

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Sign-up Bonus

55K points after $1.5K spend in the first 3 months
Am I eligible?

Earning Structure

3XLyft (through 12/31/2027; must be default payment method in Lyft app)3.9%
3XSouthwest purchases3.9%
2XU.S. grocery stores2.6%
2XU.S. restaurants2.6%
1XAll other purchases1.3%

Highlighted categories return more than 2%, the rate a flat 2% cash-back card pays on everything.

Benefits

Worth it for me?
Credits & Perks (2)
  • Instacart: $10 (Monthly)

    Monthly credit on Instacart orders with active Instacart+ membership (activate by 12/31/27)

  • DoorDash: $10 (Quarterly)

    Quarterly $10 credit on eligible non-restaurant DoorDash orders with active DashPass membership (activate by 12/31/27)

Elite Status (1)
  • Southwest Rapid Rewards: Earn 1.5K TQPs for each $5K in purchases toward A-List status
Protections (6)
  • Travel Accident Insurance — up to $500,000 — Up to $500,000 for Common Carrier travel accident, $100,000 for 24-hour travel accident
  • Lost Luggage Reimbursement — up to $3,000 — Up to $3,000 per covered traveler per trip for lost, damaged, or stolen luggage; sub-limit of $500 for jewelry/watches and cameras/electronics
  • Baggage Delay Insurance — up to $300 — Up to $100 per day for 3 days when baggage delayed over 6 hours
  • Purchase Protection — up to $500 — 120 days coverage for theft, damage, or involuntary and accidental parting, up to $500 per item
  • Extended Warranty — up to $10,000 — Extends manufacturer's U.S. repair warranty by 1 year (max 3 years original warranty)
  • Auto Rental Collision Damage Waiver (secondary) — Secondary coverage in the US, primary outside the US, up to $60,000 for theft or collision damage to rental vehicle

Other Perks

  • 6K anniversary bonus points
  • 10K Companion Pass qualifying points each year
  • First bag free for cardholder and up to 8 companions
  • 15% promo code each year on cardmember anniversary (excludes Basic fare)
  • Group 5 boarding for cardholder and up to 8 companions (for flights with assigned seating in 2026+)
  • Standard or Preferred seat selection up to 48 hours pre-departure (when available) - for 2026+ flights
  • Complimentary DoorDash DashPass for 12 months (activate between 02/01/2025 and 12/31/2027)
  • Big spend bonus: If you earn 135K points in one calendar year, you'll get a companion pass good for the rest of that calendar year and all of the next year
  • Complimentary Instacart+ membership for 3 months (activate by 12/31/27)
  • 25% back on Southwest inflight purchases