New Bonus Offer for a Travel Credit Card in Clark’s Wallet – Technologist

Are you in the market for a new travel rewards credit card?

Chase and Southwest Airlines have a trio of popular co-branded consumer credit cards that just unveiled a limited-time offer.

Southwest Offers Limited-Time Welcome Bonus for New Credit Cardholders

This new sign-up bonus is a hybrid of statement credit and airline points:

Southwest Rapid Rewards® Consumer Credit Cards from Chase are giving new cardmembers the opportunity to earn a $400 statement credit and 40,000 Rapid Rewards® bonus points after spending $3,000 on purchases in the first 4 months from account opening.

What’s the Value of This Offer?

This offer may be a little confusing because it’s a combination of a statement credit and airline rewards points.

Statement credit: $400

Airline rewards points: Estimates on the average value of Rapid Rewards points range between 1.3 and 1.5 cents per point, depending on your source. That means the 40,000 points earned through this promotion could be worth somewhere in the range of $520 and $600.

That means this offer could have a total value of somewhere between $920 and $1,000, provided you meet the spending requirement to earn it and then use your bonus points to book travel through Southwest.

Which Cards Qualify for This Sign-Up Offer?

The cards that qualify for this offer are:

• card_name ($69 annual fee)
• Southwest Rapid Rewards® Premier Credit Card ($99 annual fee)
• card_name ($149 annual fee)

These cards offer Rapid Rewards points as a reward for spending in various categories, with multipliers varying based on the version of the card you have.

If you’re a long-time Clark Howard reader or listener, you may recognize that the Priority card is one of the cards in his wallet.

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Should You Be Applying for This Type of Travel Credit Card?

This offer may be tempting, but before you apply, I also want you to get the full picture of Clark’s view on this type of credit card.

Clark has carried the Priority version of this card in his wallet for many years, but that doesn’t necessarily mean he believes it should be in yours, too.

Let me explain.

Why Clark Has This In His Wallet

Clark is a self-described travel nut who makes many trips per year. As such, he carries a handful of travel credit cards in his wallet to maximize the experience.

The Southwest card has long been included in his travel card collection because his travel and spending volumes allow him to earn Southwest’s popular Companion Pass.

“With a combination of flying and charging with the card, I am able to earn the Companion Pass,” Clark explained. “And every year since 2006, my wife has flown free with me– every flight, all year long– on Southwest Airlines.”

Clark says that he does not typically use this card for any purchases outside of his Southwest travels.

Why He Believes It May Not Be the Best Fit for Everyone

This is one area in which Clark hesitates to recommend that you follow in his footsteps.

Most people do not travel as often as he does. Clark says that you need to be taking multiple trips per month and running a significant charge volume to make paying an annual fee for a travel credit card worth it.

And, even if you are a frequent traveler, he says you may not be best served by being brand loyal to one specific airline.

Instead, Clark recommends that travelers consider travel cards that allow them to be a “free agent” and shop between airlines and hotels to find the best deals. He recently talked about the two lines of travel rewards cards he likes best for this.

This card, while great for frequent Southwest customers, really only benefits you with one airline.

Do you like this promotional offer? Do you already have a Southwest credit card? We’d love to hear from you in the Clark.com community.

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