www.rapidrewardscard.com – Southwest Airlines Credit Card

May 29, 2020

By Martin Norris

The Southwest Rapid Rewards Plus Card is a credit card that's not a great rewards card, travel card, or credit card that could be used to easily increase your credit score or credit profile. It has specific rules, redemptions, and fees that make it more like a brand loyalty credit card than any other type. It does this well if nothing else.

The double reward points and reward point redemption is specific to purchases made with Southwest Airlines and, occasionally, their partners or affiliates. This combined with the fees found on the Southwest Rapid Rewards Plus Card makes this a difficult card to recommend as most travel cards will offer much better rewards all-around and have the same, if not lower, credit requirements.

The 40,000 bonus points you get for opening a Southwest Rapid Rewards Plus Card account could make the entire process worthwhile. However, this is a card with an annual fee so keeping it open long-term, if you don't intend to use it frequently, might not be worth it.

The APR that comes with the rapidrewardscard.com offer is average overall. The purchase, balance transfer, and Chase Loan APR, at present, has a range of 15.99% to 22.99%, inclusive of the current Prime Rate. The specific rate you get will depend on the creditworthiness assigned to you at the time of account opening. It's possible to negotiate to a lower rate within this range over time.

The APR for cash advances is, at present, 24.99%. This rate may also vary with the Prime Rate. There is no penalty APR or minimum interest charge.

The credit limit for the standard version of the rapidrewardscard.com offer is less than $2,000, on average. If you qualify for a starting credit limit more than this, you will likely be offered the Premier or Priority version of this card, though you should always be able to opt for the standard version instead. There is no stated maximum credit limit and no fee for credit line increases.

Fees

  • Annual Fee – The annual fee for the Southwest Rapid Rewards Plus Card is $69.
  • Cash Advance Fee – The cash advance fee for every cash advance made with the Southwest Rapid Rewards Plus Card is the greater of $10 or 5%.
  • Foreign Transaction Fee – There is a foreign transaction fee of 3% of the total transaction after the transaction has been converted to USD. This fee applies to all purchases and transactions made outside of the US or in a foreign currency.
  • Late Payment Fee – The late payment fee with the Southwest Rapid Rewards Plus Card is up to $39 for each late payment made.
  • Return Payment Fee -  There is a fee of up to $39 if a payment made to your Southwest Rapid Rewards Plus Card is returned. However, there is no fee for a returned check.
  • Over-the-Limit Fee – There is no fee for going over your credit limit and doing so will not put you in default of your Southwest Rapid Rewards Plus Card agreement.
  • Authorized User Fees – There is no authorized user fee for adding an authorized user or requesting an additional card with the Southwest Rapid Rewards Plus Card program.
  • Balance Transfer Fee – The balance transfer fee for any balance transferred to the Southwest Rapid Rewards Plus Card is the greater of $5 or 5%. The total limit on balance transfers, no matter the total credit limit, is $15,000.

The rewards program that comes with the Southwest Rapid Rewards Plus Card isn't particularly outstanding and it is very specific to Southwest airlines. If you are a Southwest airlines loyalist, this may work for you. Otherwise, a more general travel card often provides better benefits at a lower cost.

With the Southwest Rapid Rewards Plus Card you get 1 point per dollar for all purchases as well as 2 points per dollar spend Southwest and specific hotel and rental car purchases. Every year you also get 3,000 bonus points on the anniversary date of your Southwest Rapid Rewards Plus Card account opening.

Points may be redeemed for flights with Southwest Airlines only. 100 points have a redemption rate of about $1 to $1.50. All redemptions must be paid for in-full with points. If you don't have enough points to get the reward you want, you can buy more points. With the standard bonus of 40,000 points on a new account, this easily translates to up to $600 in rewards.

Pros – Advantages of the www.rapidrewardscard.com Credit Card Offer

  • Generous Account Opening Bonus – Ever new Southwest Rapid Rewards Plus Card account gets a bonus of 40,000 points. These points are credited to the account within 90 days of the accounts opening and do not require you to keep your account open for a year.
  • Southwest Specific – Double points are only available on Southwest and affiliated purchases. Redemptions are only available through Southwest Airlines.
  • Points Bonus on Card Anniversary – Every cardmember gets a bonus of 3,000 points on the anniversary day of their account opening.

Cons – Disadvantages of the www.rapidrewardscard.com Credit Card Offer

  • High Credit Score Required – A great to excellent credit score is necessary for good approval odds.
  • Narrow Redemption Opportunities – For anyone that isn't the biggest Southwest fan, you may find the redemption options limited with the Southwest Rapid Rewards Plus Card.
  • Decent APR Offer, Average Fees – There are no standout standard credit card features to be found with the Southwest Rapid Rewards Plus Card.

The Southwest Rapid Rewards Plus Card is a decent credit card. As it requires such a high credit score to get and offers so few rewards opportunities, this isn't a great rewards card. The inclusion of an annual fee, no travel credits to speak of, and a high foreign transaction fee make the Southwest Rapid Rewards Plus Card a very poor choice for a travel credit card. For most, there are better options. However, there are a few cases where the www.rapidrewardscard.com offer could work very well for someone utilizing Southwest Airlines to travel for business, etc. Beyond travel and rewards, the Southwest Rapid Rewards Plus Card has average APR offerings and basic credit card features, including balance transfers and cash advances. The customer service is fair, though wait times are reportedly long. Credit limits are often high, though those with a higher credit limit are frequently encouraged to upgrade to a higher tier version of the Southwest Rapid Rewards Plus Card.


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