Update 2: 50,000 point offer is now EXPIRED. 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 $800 in airfare with no limited-capacity seating hoops or $500 in 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. Details below.
Update: 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. I would recommend making your redemption before 3/31/14 if possible, even if your trip takes place after that. Southwest is still offering two free checked bags.
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. This offer has gone to down to 25k in the recent past.
- 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 every year 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