Good morning everyone. As part of my “Keep, Cancel or Convert?” series, I like to evaluate and reevaluate credit cards to make sure they still deserve a spot in my wallet. This post is a little different because this post is about my girlfriend’s Chase Southwest Airlines Plus Credit Card. She got this credit card last November when Chase & Southwest Airlines were running a promo for California residents: Sign up for the Chase Southwest Airlines Plus Credit Card, make 1 purchase and get a Southwest Airlines Companion Pass. It was a no brainer. The 50,000 Southwest Airlines Rapid Rewards Points sign up bonus was just gravy. We got great use out of the Southwest Airlines Companion Pass this year, but sadly, the $69 annual fee just posted and it’s time to decide if she should keep, cancel, or convert this credit card.
The only useful benefit of the Chase Southwest Airlines Plus Credit Card after the sign up bonus and Southwest Airlines Companion Pass is the 3,000 anniversary Southwest Airlines Rapid Rewards Points that post after the annual fee is billed. Unfortunately, 3,000 Southwest Airlines Rapid Rewards Points is worth ~$45, so it is not worth paying the $69 annual fee for ~$45 in Southwest Airlines Rapid Rewards Points.
Doctor of Credit wrote a post a few months ago about a targeted upgrade offer where you can get 5,000 Southwest Airlines Rapid Rewards Points for upgrading to the new Chase Southwest Airlines Priority Credit Card. Unfortunately, my girlfriend was not targeted for the upgrade offer.
I then told her to try sending a Secure Message (SM) to Chase asking if there were any upgrade offers available. Unfortunately, the Chase rep told her to call the number on the back of her credit card to inquire about upgrade offers.
Unfortunately, the Chase phone rep did not see any upgrade offers either. I told my girlfriend to upgrade anyway since the benefits of the Chase Southwest Airlines Priority Credit Card were worth the higher $149 annual fee. After confirming the upgrade, the original $69 annual fee was refunded. I assume the $149 annual fee will be billed on her next credit card statement.
A few days later, her new Chase Southwest Airlines Priority Credit Card arrived in the mail. There are 3 main benefits of the Chase Southwest Airlines Priority Credit Card:
- 4 upgraded boarding passes, similar to Early Bird Boarding (~$60 value since each Early Bird Boarding costs $15 – $25)
- $75 Southwest travel credit (good for $75 of travel on Southwest Airlines, posts as a statement credit)
- 7,500 anniversary Southwest Airlines Rapid Rewards Points (~$112.50 value since Southwest Rapid Rewards Points are worth roughly 1.5 cents per point)
These 3 benefits are worth ~$247.50, depending on how you value the boarding passes, travel credit, and anniversary points. That more than makes up for the $149 annual fee.
Here are more details regarding those 3 main benefits and some of the lesser credit card benefits:
Last but not least, here is what the new Chase Southwest Airlines Priority Credit Card (top) looks like in comparison to the old Chase Southwest Airlines Plus Credit Card (bottom). The only major difference is that the credit card number and Rapid Rewards number are moved to the back on the Chase Southwest Airlines Priority Credit Card.
If you have any questions about the Chase Southwest Airlines Priority Credit Card or the conversion process, please leave a comment below. Have a great day everyone!
P.S. Check out my other “Keep, Cancel or Convert?” blog posts here.