Southwest Airlines has recently introduced a new Rapid Rewards® Debit Card, offering some pretty generous rewards for a debit card. This card comes with a small welcome bonus, points on everyday spending, and other modest perks that are not typically found with most debit cards.
The Southwest Rapid Rewards debit card details include a welcome bonus of earning 2,500 Southwest Rapid Rewards points with two recurring deposits and $100 spend in the first 90 days. You can also earn points on spending, such as 1 point per $1 on Southwest purchases, dining, subscriptions, and utilities, and 1 point per $2 on other purchases. Additionally, the card offers Southwest perks like up to 7,500 anniversary points, a promotion code for 20% off a paid fare, and an annual $35 Southwest travel credit.
One standout feature of this card is the Companion Pass bonus, where you can get up to 7,500 annual bonus points that count toward earning a Southwest Companion Pass. This pass allows you to fly with a companion for only the cost of taxes and fees on any ticket for the rest of the year in which you qualified and the following calendar year.
The card is aimed at “younger and cash-savvy travelers” and is issued by Sunrise Banks, an FDIC member with funds insured up to $250,000. While there are some catches like a monthly fee of $6.99 (waived for balances over $2,500) and spending requirements to earn certain bonuses, it could still be a good option for those looking for an additional way to earn Southwest points.
Overall, the Southwest Rapid Rewards Debit Card may not be the best deal for everyone, especially if you already have a debit card or prefer using rewards credit cards. However, it could make sense for those looking to earn Southwest points on purchases that can’t be charged to a credit card or to avoid credit card surcharges. Just be sure to consider the monthly fee, maintain the required bank balance, and have access to in-network ATMs to maximize your rewards and avoid unnecessary fees.