Update: Limited-time 50k offer ends this weekend. It has gone and come back before, but Sunday is last day to apply this time around. Southwest has brought back their excellent 50,000 bonus point promo for the Southwest Airlines® Rapid Rewards® Premier Credit Card. That’s worth 2 Roundtrip Flights (over $700 in airfare with no limited-capacity seating hoops or $500 in Amazon.com gift cards) after you spend $2,000 in the first 3 months of opening your account. Another opportunity to *save* money with credit cards as opposed to losing it paying interest. There is a $99 annual fee that is not waived the first year.
Perfect Timing for 2014/2015 Companion Pass
Since 2014 just started this is the perfect time to get their Rapid Rewards Companion Pass which allows you to designate one person to fly with you for free (person can be changed 3 times). To qualify, you must earn 110,000 points in a calendar year, and yes credit card points count! If you earn the status early in 2014, you can use the Companion Pass for the rest of 2014 and all of 2015. The companion pass even works on award tickets!
How to get to 110k points? Besides a lot of spending or flying, the small business version of this card also has a 50,000 point bonus. Spend $5,000 on each of these two cards and you’ll qualify for both 50k bonuses plus the 10k from spending for a total of 110,000 Rapid Rewards points. (You can spend less if you take some paid Southwest flights anyway.) Those 110k points will be worth over $1,500 in airfare split up into however many flights you want + a free companion pass which can effectively double the value.
The huge “2 roundtrip flights” banner on the Southwest Airlines® Rapid Rewards® Premier Credit Card application page is based on the fact that one round-trip $416 Wanna Get Away fare would cost about 25,000 points. In reality, the value of the bonus is about $833 in Southwest airfare broken up however you like. Any free Wanna Get Away fare is eligible, so this bonus is very useful for Southwest fliers. If you take shorter flights or wait for a fare sale, this could easily be worth multiple roundtrip flights. 50,000 points can also be converted to $500 in gift cards to Amazon.com, Wal-mart, and other retailers.
Currently 60 points = $1 worth of Wanna Get Away airfare, which means you get 1.67 cents of value per point. Starting March 31, 2014, it will take 70 points per $1, or 1.43 cents of value per point. This means 50,000 points = $714 worth of Wanna Get Away airfare after the change. Southwest is still offering two free checked bags.
- Get 50,000 points for 2 ROUNDTRIP FLIGHTS after you spend $2,000 in the first 3 months of opening your account. Government fees as low as $10 not included.
- Get 6,000 points after your Cardmember Anniversary.
- Earn 2 points per $1 spent on Southwest Airlines® and AirTran Airways® purchases made directly with the airlines and on Rapid Rewards Hotel and Car Rental Partner purchases.
- Earn 1 point per $1 spent on all other purchases.
- Redeem points for gift cards, car rentals, cruises, hotel stays, and international flights to over 800 Destinations on 50+ global carriers.
- No foreign transaction fees