New Chase Rapid Rewards Priority Credit Card (Southwest Airlines) - $149 fee

Keeping with the trend of new cards higher fees and spending “credits”…

Chase has a new premium SW card with a higher fee but with an airline purchase credit, upgraded boarding credits, and 20% in-flight purchases credits…

$75 annual Southwest Credit (valid on everything except in-flight purchases and seat upgrades purchased at airport)
7500 points every anniversary date (worth around $112.50 at current rates)
Four Upgraded Boardings per year when available.
20% back on in-flight drinks, WiFi, messaging, and movies.

No Foreign Transaction fees
Earn tier qualifying points towards A-list Status. (1500 per $10k spend)

Bold are differences from the existing Rapid Rewards Premier, with the $99 fee (has a 6k points anniversary bonus).

I place the following values on the first 3 listed new features (in exchange for the $50 extra annual fee):
+1500 points = $22.50 at $0.015 per point.
$75 southwest credit = $65. (SW gift cards frequently available at 10% off. I also have more than I need already from Amex travel credit).
Upgraded boarding position = ??? I have never paid for this so I don’t place much value - Say, $40 total. But it costs $30-50 per route X 4. These are only the day of travel, at airport upgrades for A1-A15 that I believe follow behind any pre-purchased Business Select tickets and I don’t know if it’s behind A list preferred tickets or not.
Total extra value for $50 extra annual fee: $127.50-$287.50 ($287.50 values the upgrades at $50 each), Net benefit of $77.50+

Total annual value (vs no card) for $149: $177.50 + 4x upgraded boarding

Seems like a winner to convert existing Southwest card(s) from and profitable to keep long term. Alternately, close and wait ___ months if you’re under 5/24 and past 24 months to get a new opening bonus worth $600 in flights for $1k spend. Too bad there’s no business one yet and too bad you seem to be limited to one card in the product family unless you already have multiple.

Additional Chase terms:
“These products are available to you if you do not have a current Southwest Rapid Rewards Credit Card and have not received a new Cardmember bonus within the last 24 months. This does not apply to Business Card and Employee Credit Card products.”
40k ($1k spend/3mo) + 25k ($15k spend/12mo) opening bonus
New/weird product conversion terms:

  • Anniversary year means the year beginning with your account open date through the first statement date after your account open date anniversary, and the 12 monthly billing cycles after that each year. Eligibility for a $75 Southwest Annual Travel Credit for accounts that switch to this product: Account open date is the date the switch is official in the Chase system. Eligibility for Upgraded Boardings for accounts that switch to this product: Account open date is the date the switch is official in the Chase system. After you make your purchase with your Southwest Rapid Rewards® Priority Card, you will receive a statement credit for the price of the Upgraded Boardings.

Unknown (I am looking for input on these):

  • Product conversion anniversary bonus -> Based on original account open date? Based on conversion date and new Annual Fee date?
  • Product conversion annual fee -> Proration?

Targeted conversion bonus:
Reports of targeted emails to Chase Rapid Rewards Plus cardmembers for 5,000 rapid rewards points bonus. If you’re planning to convert, may be worth waiting a month or two and hope for a targeted email.


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All Chase Southwest Cards fall under 5/24 rule. I’m well over so this is a no-go for me.

Don’t forget about the 110,000 qualifying points to earn a 2 calendar year companion pass, starting in the first year that you earn it. This makes the most sense to apply for the card early in the calendar year to make the most of the companion pass. The 65k signup bonus will get you over half of the way there. The extra 15k spend to earn the last 25k points seems a bit steep but gets you closer if you are actually going for the companion pass. That’ll get you a total of 81k points after the bonus+spend on the card. You’ll only need another 29k in spend to qualify.

RIP were the days you could open two or three SW cards at the same time (not 5/24) for 50k points after 2k spend each. :cry:

Conversions aren’t new cards. Yes you get more for opening bonuses. But this new card is profitable to keep open long term.

Nice write up. Thanks!

Good analysis. Alas, I’m shut out due to 5/24 :frowning: