Southwest Points Are Devalued for 2024, Here’s How You Can Still Make the Most of Them

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Southwest Airline's Rapid Rewards® is one of the easiest frequent flier programs to use because points are worth a fixed amount towards the price of any flight. Unfortunately, Southwest has decided to devalue its points for 2024, and it’s not the first time that the flying rewards program has done this. 

Currently Southwest Rapid Rewards are worth about 1.4 cents per point, according to SlickDeals Valuations. However, Southwest Airlines announced that starting on Jan. 1, 2024, Rapid Rewards points will decrease in value by approximately 4%. This doesn’t sound like a lot, but every little bit makes a difference. Thankfully, there are alternative ways to earn reward points towards flights on Southwest that help you to stretch your points and miles further. 

Compare Southwest Consumer Credit Cards

Credit Card	Annual Fee	Intro Bonus	Perks	Learn More
Southwest Rapid Rewards® Plus Credit Card Apply Now	$69	50,000Southwest Rapid Rewards Points More Info Earn 50,000 bonus points after spending $1,000 on purchases in the first 3 months from account opening. Dollar Equivalent: $700 (50,000 Southwest Rapid Rewards Points * 0.014 base)	Lost luggage reimbursement Baggage delay insurance	Apply Now
Southwest Rapid Rewards® Premier Credit Card	$99	50,000Southwest Rapid Rewards Points More Info Earn 50,000 bonus points after spending $1,000 on purchases in the first 3 months from account opening. Dollar Equivalent: $700 (50,000 Southwest Rapid Rewards Points * 0.014 base)	Lost luggage reimbursement Baggage delay insurance	This product is currently not available via Slickdeals. All information about this product was collected by Slickdeals and has not been reviewed by the issuer.
Southwest Rapid Rewards® Priority Credit Card Apply Now	$149	50,000Southwest Rapid Rewards Points More Info Earn 50,000 bonus points after spending $1,000 on purchases in the first 3 months from account opening. Dollar Equivalent: $700 (50,000 Southwest Rapid Rewards Points * 0.014 base)	$75 Southwest annual travel credit 25% back on inflight drinks & Wi-Fi 4 upgraded boardings when available	Apply Now

Rethink Your Approach to Southwest Rapid Rewards Credit Cards

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Southwest offers three personal and two business cards through Chase. Having these cards is  a great way to earn the extremely valuable Southwest Companion Pass®.

However, if you’re only earning one point per dollar spent on most purchases, your return rate is relatively low at just over 1.3 per dollar. Here are some ways that you can do better.

Earn Rewards for Southwest Flights with Cash Back Cards

Nearly any cash back credit card will offer you at least 1.5% cash back on all purchases, and up to 6% back on purchases that qualify for a bonus. There are also several that offer 2% cash back, or even more. Here are a couple recommended cards that have an elevated base rewards rate:

Card	Rewards Rate	Annual Fee	Learn More
Citi Double Cash® Card Apply Now Rates & Fees	2%Cashback More Info Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24.	$0	Apply Now Rates & Fees
Wells Fargo Active Cash® Card Apply Now Rates & Fees	2%Cashback More Info Earn unlimited 2% cash rewards on purchases.	$0	Apply Now Rates & Fees

With either of these cards, you'll earn valuable rewards and have the chance to earn more Rapid Rewards points from Southwest Airlines. This can help you qualify for A-List status or a Companion Pass, providing additional perks and savings.

Unlock Free Southwest Flights with Travel Rewards Cards

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A popular way to earn award flights is by using travel rewards cards that offer points that can be transferred to frequent flier programs. For example, the Chase Ultimate Rewards^® program allows you to transfer your points to Southwest Rapid Rewards points.

Chase Ultimate Rewards points can be earned from cards like the Chase Sapphire Reserve^®. While Southwest’s new devaluation makes it a less attractive option, Chase also allows you to redeem points for Southwest flights online through Chase Travel Rewards, which will ultimately cost you fewer points.

Chase Sapphire Reserve®

Apply Now

Secure application on issuer’s website

Rates & Fees

• Our Rating 4.5/5 How our ratings work Read the review
• APR22.49% - 29.49% (Variable)
• Annual Fee$550
• Sign-Up Bonus 60,000Chase Ultimate Rewards Points More Info

  Earn 60,000 bonus points after using your card to spend $4,000 within three months of account opening. Dollar Equivalent: $1,380 (60,000 Chase Ultimate Rewards Points * 0.023 base)

This card features an annual credit for travel purchases, which can offset the annual fee, plus bonus points when you sign up. You'll also get free access to tons of Priority Pass lounges and restaurant options around the world, along with access to the upcoming Chase Sapphire Lounge network.

• Overview
• Pros & Cons

Overview

If you’re looking to elevate your travel experience, look no further than the Chase Sapphire Reserve. When you first get approved, you’ll earn a sign-up bonus of 60,000 points after you spend $4,000 in the first three months—that’s worth at least $900 in travel-related spending booked through Chase Ultimate Rewards® and potentially more if you transfer your rewards to one of Chase’s airline or hotel partners.

Read the review

Pros

• An array of premium travel perks including access to Priority Pass lounges
• Easy-to-use $300 travel credit that helps offset card's annual fee
• Generous rewards rates for spending

Cons

• High annual fee may be a deterrent for some
• Perks are starting to get stale relative to newer competition

When you use your Sapphire Reserve to book any airline, hotel, car rental, cruise, or activity through Chase Travel Rewards, you’ll receive a full 1.5 cents in value per point redeemed, which is significantly above the 1.3 cents in value that will be offered by Southwest points in 2024.

The advantage becomes even more appealing when considering that a revenue ticket, not an award ticket, is obtained. It's similar to booking directly with Southwest. This means that you’ll earn points from your trip, as well as credit towards A-List elite status and progress towards earning a Companion Pass.

On the downside, the ticket you receive is issued by Chase and cannot be changed by Southwest. Refunds are processed and credited back to your balance of Chase Ultimate Rewards points. 

American Express Membership Rewards

Another option for booking Southwest tickets is through the American Express Membership Rewards® program.

Typically, each point you earn through the American Express Membership Rewards program is worth one cent when used for reservations booked via American Express Travel. However, some cards offer additional benefits that can make points worth up to 1.54 cents each towards award bookings.

Unfortunately, you can’t book Southwest flights through the American Express website. Instead, you have to call American Express Travel.

Choose Cash Back or Chase Ultimate Rewards for Greater Benefits

Shifting your award travel strategy from Southwest Rapid Rewards credit cards to cash back or Chase Ultimate Rewards can offer several advantages.

With these methods, you can earn reward tickets that still allow you to accumulate Rapid Rewards points. When booking Southwest flights, you earn 6 points per dollar value for tickets in Southwest's "Wanna Get Away" fare class, and 8 points for Southwest's new "Wanna Get Away Plus" fares. "Anytime" fares offer 10 points for every dollar spent in base airfare, and "Business Select" fares feature 12 points per dollar. Furthermore, A-List members get a 25% bonus while A-List Preferred offers a 100% bonus. 

Booking Southwest tickets this way also gives you credit towards elite status. For 2024, you need to only fly 20 one-way flights (or 10 round-trips) to earn A-List and 40 one-way flights (or 20 round-trips) to earn A-List Preferred status. You can also earn A-List status by reaching 35,000 tier qualifying points, and if you accumulate 70,000 points, you can achieve A-List Preferred status.

To earn the Companion Pass, you have two options: taking 100 qualifying one-way flights or earning 135,000 qualifying points in a calendar year. However, having a Rapid Rewards credit card gives you a head start with a credit of 10,000 points. While it may seem like a lot, you can achieve these status levels by combining revenue ticket bookings and using your credit card wisely.

The Bottom Line on Rapid Rewards

While these potential adjustments might have an impact on the overall value of using Southwest's Rapid Rewards, it's worth considering alternative options that may offer even better value for your hard-earned points.

On top of that, exploring these alternatives also opens up opportunities to earn points, credit towards elite status, and even the highly sought-after Companion Pass, which can further boost the value of your rewards.

By carefully weighing these alternatives and choosing the one that aligns with your travel preferences, you can continue to enjoy significant value to earn rewards for flights with Southwest Airlines.