What You Need To Know About The Southwest Rapid Rewards Plus Anniversary Bonus

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The Southwest Rapid Rewards® Plus Credit Card is one of several Southwest cards offered among Chase’s lineup of co-branded credit cards. The Rapid Rewards Plus card charges the lowest annual fee among the five Southwest cards Chase issues — just $99 — but comes with some attractive perks that help offset it.

One of those perks is its anniversary bonus, an especially easy way to guarantee you’re getting value from this card long-term.

What is the Southwest Rapid Rewards Plus anniversary bonus?

The Southwest Rapid Rewards Plus anniversary bonus is 3,000 points automatically applied to your account each year after your account anniversary.

Southwest extends this bonus as a “thank you” for renewing your card and paying the $99 annual fee for another year.

How much is the Southwest Rapid Rewards Plus anniversary bonus worth?

According to Bankrate’s latest points and miles valuations, rewards earned in the Southwest Rapid Rewards program are worth around 1.5 cents each when redeemed for travel. This means the anniversary bonus on the Southwest Rapid Rewards Plus card can be worth up to about $45, depending on how and when you redeem your points.

While 3,000 points may not sound like a lot, keep in mind that Southwest offers one-way fares for as little as 4,000 points (and sometimes less) during sales. That’s one of the reasons Katie Kelton, a senior credit cards writer at Bankrate, keeps a similar Southwest card in her wallet.

Looking at Southwest’s low-fare calendar at the time of writing, this card’s anniversary bonus could cover most of your trip from Atlanta to New York, depending on your dates.

How do I find my Southwest Rapid Rewards Plus account anniversary date?

You can look back at your statement history to estimate when you’ll receive your Southwest anniversary bonus. According to the fine print from Southwest and Chase, you’ll receive this bonus on your account anniversary year, which is “the year beginning with your account open date through the anniversary of your account open date, and each 12 months.”

If you originally signed up for your card on May 12 of any given year, for example, you’ll receive your anniversary bonus after May 12 of the following year.

The Rapid Rewards Plus anniversary bonus vs. other account anniversary bonuses

The Rapid Rewards Plus card isn’t the only airline card that comes with account anniversary bonuses. Here are a few other Southwest cards to consider, plus their anniversary bonus values, based on Bankrate’s valuations:

• Southwest Rapid Rewards® Premier Credit Card*: You’d get an anniversary bonus of 6,000 points, worth about $90, after paying the $149 annual fee.
• Southwest Rapid Rewards® Priority Credit Card: Best for Southwest loyalists, this card comes with an account anniversary bonus of 7,500 points after you pay the $229 annual fee. Your points would be worth about $113.
• Southwest® Rapid Rewards® Premier Business Credit Card: You’d get a 6,000-point anniversary bonus, worth about $90, after paying the $149 annual fee.
• Southwest® Rapid Rewards® Performance Business Credit Card: The airline’s flagship business credit card will net you 9,000 anniversary bonus points, worth about $135, for a $299 annual fee.

Other Southwest perks that make up for the annual fee

The Southwest Rapid Rewards Plus anniversary bonus may be worth around $45, depending on how you redeem the points, which already cancels out just under half of your $99 annual fee.

Despite some of Southwest’s recent policy changes regarding two bags flying free and EarlyBird check-in, there are still several beloved Southwest benefits available for cardholders.

• First checked bag flies free
  

  Rapid Rewards Plus cardholders can enjoy a free first checked bag on all flights, as well as for up to eight additional passengers on the same reservation. You’ll also receive complimentary Standard seating up to 48 hours before departure (when available).

• Southwest Companion Pass points
  

  Cardholders will also earn 10,000 Companion Pass points each year, boosting their earnings toward the highly-coveted Southwest Companion Pass. The Companion Pass allows you to bring a companion along on your flights, whether paying with cash or points, for the remainder of the year in which you earn the pass, as well as the following full calendar year. All you’ll pay are required taxes and fees.

  You can earn a Companion Pass by accumulating 135,000 Rapid Rewards points in a calendar year or by taking 100 one-way qualifying flights in that same timeframe.

• Booking and cancellation flexibility
  

  The airline offers some serious benefits beyond what you’d get as a Rapid Rewards Plus cardholder. For starters, Southwest has one of the most flexible cancellation and rebooking policies of all major airlines. And, it’s one of the few airlines that doesn’t impose any blackout dates or capacity controls for award tickets.

The bottom line

The Southwest Rapid Rewards Plus Credit Card allows you to earn Rapid Rewards points on your everyday purchases, earn an anniversary bonus and enjoy other perks and features, all for a reasonable annual fee. When you add up the value of the Southwest anniversary bonus and discounts on in-flight purchases (not to mention the rewards you’ll earn on everyday spending), you can more than make up for this card’s $99 annual fee each year.

That said, you can consider other Southwest credit cards or cards from partner issuers. Because Southwest is a transfer partner in the Chase Ultimate Rewards program, for example, you can use a Chase travel credit card to earn flexible points on purchases, then transfer them to your Southwest account once you’re ready to redeem.

*Information about the Southwest Rapid Rewards® Premier Credit Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the issuer.