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The no annual fee Southwest credit card that’s out of reach

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This article was last updated May 27, 2015, but some terms and conditions may have changed or are no longer available. For the most accurate and up to date information please consult the terms and conditions found on the issuer website.

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The three publicly available Southwest credit cards are great if you want to take advantage of the Companion Pass that lets you bring a companion along for no airfare on every Southwest flight you take for over a year.

And right now they’re offering their seasonal high bonus deals of 50,000 points each.

But all of them have annual fees – $69 for the entry level Southwest Rapid Rewards® Plus Credit Card – and $99 for the higher earning Southwest Rapid Rewards® Premier Credit Card and Southwest Rapid Rewards® Premier Business Credit Card.

They offset them somewhat with annual point bonuses. 3,000 points for the Southwest Rapid Rewards® Plus Credit Card and 6,000 points for both the Southwest Rapid Rewards® Premier Credit Card and the Southwest Rapid Rewards® Premier Business Credit Card.

Yet, Chase offers a no annual fee Southwest Rapid Rewards® credit card.

It’s for employees of Southwest airlines only, and called the Rapid Rewards® Employee Credit Card.

  • The sign on bonus isn’t as good as the deals sometimes offered on the regular cards for the public. It’s currently 25,000 points after you spend $1,000 in the first 3 months.
  • The card appears to be a standard ‘Plus’ card, and it earns the same 3,000 point anniversary bonus of the public version, which is nice considering this is a no fee version.

(The information related to The Southwest Rapid® Rewards Employee Credit Card has been collected by CompareCards.com and has not been reviewed or provided by the issuer of this card.)

But there are some even better ongoing point kickers. You get:

  • 2,500 bonus points after spending $5,000 on purchases in a calendar year
  • 2,500 MORE bonus points after spending a total of $10,000 or more on purchases in the same calendar year

So you can earn 5,000 extra points a year when you spend $10,000 on the card, which isn’t tough considering it works out to less than $1,000 a month.

If you spend exactly $10,000 a year on the card, you’re effectively earning 1.8 miles per dollar by holding the card thanks to the 5,000 point bonus and the 3,000 point anniversary bonus.

And since Southwest points for flights  are often worth more than 1 cent each, this is a better than 2% cash value card when you use the points for Southwest flights.

All for no annual fee.

Unfortunately friends and family of employees aren’t eligible for the card. They strictly make this card available only to the 46,000 employees of Southwest, and you’ll be asked for your active employee number when you apply.

But it’s always good to get a glimpse of how far card benefits can stretch with the right circumstances.

Check out this Southwest sign up bonus review.


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