New Southwest card offers: 40,000 points plus a $400 statement credit — is it a good deal?

For Southwest loyalists, a cobranded Southwest credit card is a great way to earn points toward travel.

And if you're looking to earn a solid stash of Rapid Rewards points, now is a great time to add a personal card to your wallet.

Right now, all three personal Southwest cards are offering a bonus we haven't seen before. Through Dec. 16, applicants can earn 40,000 bonus Rapid Rewards points and a $400 statement credit after spending $3,000 in the first four months of account opening. This offer ends on Dec. 16.

This entire bonus is worth up to $960 according to TPG's November 2024 valuations.

The regular offer on these cards is worth $700, and the highest offers we tend to see are worth just over $1,100, so I think this is a good time to apply for a card if you're interested. Plus, the $400 statement credit is very flexible — you don't need to purchase a Southwest flight; you'll receive the statement credit for any purchase.

And you can earn up to 80,000 bonus points with the current welcome offers on Southwest's two business cards; these points can help you earn a coveted Companion Pass. If you time your spending to where your bonus doesn't hit until early 2025, you'll have the best chance at earning a Companion Pass that you'll be able to use for the remainder of 2025 as well as 2026.

Let's look at the current sign-up bonuses on the Southwest Airlines personal and business credit cards.

Southwest personal cards

Southwest Rapid Rewards Plus Credit Card

• Best for: Beginners and infrequent travelers
• Annual fee: $69
• Sign-up bonus: Earn 40,000 bonus points and a $400 statement credit after spending $3,000 in the first four months from account opening. This offer ends on Dec. 16.
• Earning rates: 2 points per dollar on local transit and commuting purchases, including ride-hailing services like Uber and Lyft; 2 points per dollar on internet, cable, phone services, and select streaming service purchases; 2 points per dollar on Southwest purchases; 2 points per dollar on Rapid Rewards hotel and car rental partners and 1 point per dollar on everything else
• Primary perks: Two EarlyBird check-ins annually and 3,000 points every card anniversary

For more details, check out our full review of the Southwest Rapid Rewards® Plus Credit Card.

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Apply here: Southwest Rapid Rewards Plus Credit Card

Southwest Rapid Rewards Premier Credit Card

• Best for: Regular Southwest flyers
• Annual fee: $99
• Sign-up bonus: Earn 40,000 bonus points and a $400 statement credit after spending $3,000 in the first four months from account opening. This offer ends on Dec. 16.
• Earning rates: 3 points per dollar on Southwest purchases, 2 points per dollar on local transit and commuting purchases (including ride-hailing services), 2 points per dollar on internet, cable, phone services, and select streaming service purchases, 2 points per dollar on Rapid Rewards hotel and car rental partners and 1 point per dollar on everything else
• Primary perks: Two EarlyBird check-ins annually, a 6,000-point anniversary bonus, unlimited Tier Qualifying Points earning of 1,500 for each $5,000 spent annually and no foreign transaction fees

The information for the Southwest Rapid Rewards Premier has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Learn more: Southwest Rapid Rewards® Premier Credit Card

Southwest Rapid Rewards Priority Credit Card

• Best for: Southwest loyalists who can take advantage of day-of-travel perks
• Annual fee: $149
• Sign-up bonus: Earn 40,000 bonus points and a $400 statement credit after spending $3,000 in the first four months from account opening. This offer ends on Dec. 16.
• Earning rates: 3 points per dollar on Southwest purchases, 2 points per dollar on local transit and commuting purchases, including ride-hailing services, 2 points per dollar on internet, cable, phone services, and select streaming service purchases, 2 points per dollar on Rapid Rewards hotel and car rental partners and 1 point per dollar on everything else
• Primary perks: Unlimited TQP earning of 1,500 for each $5,000 spent annually, a $75 annual Southwest credit, a 7,500-point anniversary bonus and no foreign transaction fees

TPG named this card the Best Airline Cobranded Credit Card at the 2023 TPG Awards.

For more details, check out our full review of the Southwest Rapid Rewards® Priority Credit Card.

Apply here: Southwest Rapid Rewards Priority Credit Card

Southwest business cards

ZACH GRIFF/THE POINTS GUY

Southwest Rapid Rewards Premier Business Credit Card

• Best for: Business owners who fly Southwest regularly
• Annual fee: $99
• Sign-up bonus: Earn 60,000 bonus points after spending $3,000 in the first three months from account opening.
• Earning rates: 3 points per dollar on Southwest purchases, 2 points per dollar on local transit and commuting purchases (including ride-hailing services), 2 points per dollar on Rapid Rewards hotel and car rental partners and 1 point per dollar on everything else
• Primary perks: Two EarlyBird check-ins every card anniversary, earn tier-qualifying points toward A-List elite status, $500 fee credit for Rapid Rewards points transfers to another Rapid Rewards member, a 6,000-point anniversary bonus and no foreign transaction fees.

For more details, check out our full review of the Southwest® Rapid Rewards® Premier Business card.

Apply here: Southwest Rapid Rewards Premier Business Credit Card

Southwest Rapid Rewards Performance Business Credit Card

• Best for: Business owners who are loyal Southwest flyers
• Annual fee: $199
• Sign-up bonus: Earn 80,000 bonus points after spending $5,000 in the first three months of account opening.
• Earning rate: 4 points per dollar on Southwest purchases, 2 points per dollar on local transit and commuting purchases (including ride-hailing services), 3 points per dollar on Rapid Rewards hotel and car rental partners, 2 points per dollar on social media and paid search advertising, internet, cable and phone services, 1 point per dollar on everything else
• Primary perks: Four upgraded boardings per year, earn tier-qualifying points toward A-List elite status, $500 fee credit for Rapid Rewards points transfers to another Rapid Rewards member, a 9,000-point anniversary bonus, up-to-$120 Global Entry/TSA PreCheck credit, up to 365 inflight Wi-Fi credits per year and no foreign transaction fees.

For more details, check out our full review of the Southwest® Rapid Rewards® Performance Business card.

Apply here: Southwest Rapid Rewards Performance Business Credit Card

Should you apply for a Southwest credit card now?

Southwest has many fans who love the airline's personality and the fact that all passengers get two free checked bags.

The carrier's Rapid Rewards program is also popular thanks to its simplicity. The number of Southwest Rapid Rewards points required to book a flight is directly tied to the flight's current fare, and you often get good deals if you know when and where to look for redemptions.

Furthermore, because of Southwest's policy of no cancellation or change fees on its flights, you can re-price a Southwest flight if you book a trip and then find the same itinerary at a lower price before departure. In addition, Southwest points never expire, so you don't need to worry about earning points and then not getting a chance to use them.

However, you can get even more value from your Southwest points if you can earn a Companion Pass. This perk allows you to bring along a designated travel companion on all of your Southwest flights — both paid and award tickets (but you must pay taxes and fees).

Normally, to get a Companion Pass, you must earn 135,000 qualifying points or take 100 qualifying, one-way flights in a calendar year. But credit card welcome bonuses and points earned from card spending count toward qualification, so the current offers on these cards can jump-start you toward earning your Companion Pass.

You can receive nearly two years of buy-one-get-one flights by opening a personal and business Southwest credit card and timing your spending to earn the bonuses near the beginning of any given year. That's because the standard Companion Pass is valid for the year it's earned and the entire following year.

Southwest cardholders get a 10,000-point boost at the beginning of the year (for existing cardholders) or within 30 days of opening an account (for new members). To maximize your time with the Companion Pass, you may want to time your credit card application so that your welcome bonus will post after the start of the new year if you can.

Read more: 15 lessons from 15 years of having the Southwest Companion Pass

Bottom line

If you're looking for a new Southwest card, you can choose from some of the great current welcome offers to earn a healthy amount of bonus points. Southwest sometimes offers a combination of bonus points and a Companion Pass for new cardholders throughout the year; however, if you're more interested in boosting your Rapid Rewards account with bonus points, this is your chance to apply.

Apply here: Southwest Rapid Rewards Plus Credit Card
Apply here: Southwest Rapid Rewards Priority Credit Card
Apply here: Southwest Rapid Rewards Premier Business Credit Card
Apply here: Southwest Rapid Rewards Performance Business Credit Card