New Southwest CC

[twentie4hrs]

http://www.dansdeals.com/go/swa/


Today marks the start of Rapid Rewards 2.0, with the most major change being Southwest is now issuing points instead of credits.

With that, Chase is launching a new CC (application link):
"NEW! Get 20,000 Points toward FREE FLIGHTS after your first purchase!
No Blackout Dates, Unlimited Reward Seats, and Points Don't Expire.
Now you can redeem for International Travel.
Earn 2 Points per $1 spent on Southwest Airlines purchases.
Earn 2 Points per $1 spent on Southwest Hotel and Car Rental Partner purchases.
Earn 1 point per $1 on all other purchases.
Get 3,000 Points every year on your Card member Anniversary ¿ that's equal to $50 toward a Wanna Get Away® Fare."

Annual fee= $69 (not waived for the first year)

Southwest is allowing those who have old credits (as few as .25) to convert "new" points to credits at 1,200 points = 1 credit so 20,000 points = 16.67 credits.

Whereas 8 credits = one way award in the old program, in the new program, 20,000 points are worth different amounts depending on the fare you are redeeming for:
Wanna Get Away: $333
Anytime: $200
Business Select: $167

[Dan]

Seems decent.

Sample:
A one-way LGA-BWI flight on 04/05 is $79.70 with tax.
Or it is 4,140 points plus $2.50 tax.
So 4,140 points=$77.20
So each point is worth 1.86 cents, valid for redemption on all flights.

20,000 point signup bonus=$372
$69 annual fee but they give 3,000 points every anniversary which is worth $55.80.

Equal to a 3.72% rebate on Southwest purchases and 1.86% on other purchases.
Plus you get a free companion pass if you earn 110,000 points in a year.

[shmiel]

Plus you get a free companion pass if you earn 110,000 points in a year.

Do these have to be points earned from flying? Or is cc points ok? (I think it didn't matter where the points came from in the old program)

[Dan]

Do these have to be points earned from flying? Or is cc points ok? (I think it didn't matter where the points came from in the old program)

cc points are ok!

[twentie4hrs]

Do these have to be points earned from flying? Or is cc points ok? (I think it didn't matter where the points came from in the old program)

does it ever matter where the points come from?

[Avid Reader]

does it ever matter where the points come from?

Yes, like earning status for example where you need to fly BIS.