NOTE: This offer was terminated as of November 13, 2011.
With the many credit card incentives currently in circulation, anything less than a 50,000-mile bonus just isn’t going to get much traction with consumers.
Apparently with that in mind, Chase, which has established itself as the premier issuer of rewards credit cards, has launched a new 50,000-point bonus promotion to ensure that its Southwest Airlines Rapid Rewards Visa cards remain top-of-mind among the travel rewards set.
Over the summer, Southwest was offering 50,000 bonus points after the first charge to the Southwest Airlines Rapid Rewards Premier Visa.&#0160; That offer is being reprised, but this time the bonus applies to both the pricier Premier ($99 annual fee) and cheaper Plus ($69 annual fee) cards.
&#0160;In Southwest’s new program, 50,000 Rapid Rewards points translate into more than $800 toward Wanna Get Away award tickets — probably two free round-trip flights.
Other card details:
- Both cards award two points per $1 on purchases of Southwest tickets and Rapid Rewards hotel and rental car partners; one point per $1 for other charges.
- Annual percentage rate (APR) is variable — the Prime Rate plus 10.99 percent — currently 14.24 percent.
- Premier cardholders receive 6,000 bonus points on their anniversary, enough for $100 toward a Wanna Get Away award ticket.
- Plus cardholders receive 3,000 bonus points on their anniversary.
There’s no published end date to the 50,000-point offer, but my guess is that it will be in place for a month or so.
Deal or No Deal
Southwest isn’t known for its aggressive credit card offers, so this is likely as good as it’s going to get.&#0160; Which is to say, if a Rapid Rewards-linked credit card is on your shopping list, this would be a good time to pull the trigger.
Unless you’re a serial card acquirer — a &quot;flipper,&quot; who signs up solely for the bonus, and then moves on — the question posed by a credit card has less to do with the card itself than it does with the program it’s linked to.&#0160; So in this case, the question is: Is Southwest’s Rapid Rewards a program that meets your needs?
The new revenue-based version of the program has seemingly split the traveler universe into fierce partisans and equally fierce critics.&#0160; For those in the former camp, the Rapid Rewards credit card is a natural adjunct to their participation in the program.&#0160; For those in the latter camp, the question is moot.
Reader Reality Check
Comments on Rapid Rewards, or this credit card offer?
Other Posts of Interest
- Southwest Changes the Game With New Rapid Rewards Program
- Chase Sapphire Preferred Card Comes With 50,000-Point Bonus
- New Southwest Rapid Rewards Program Gets Mixed Reviews
- Just How Rewarding Is Your Airline Rewards Program?
- British Air Card Now Offers 50,000 Bonus Miles, No Foreign Transaction Fees
- Q&amp;A: Help, I Can No Longer Afford That &quot;Free&quot; Ticket!
- Your Choice: Airline Miles or Hotel Points?
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