Chase is offering a Southwest Airlines Visa that comes with 16 Rapid Rewards credits on first purchase (enough for a free flight) and Southwest Airlines gift cards based on your spend in the first 3 months with the card:
- $100 gift card after your first $1000 in purchases
- $150 gift card after your first $2500 in purchases
- $250 gift card after your first $5000 in purchases
At each spending threshold it amounts to 5%10% cash back to spend on Southwest in addition to the regular credits for spending and in addition to the Rapid Rewards credits at first purchase.
That’s a pretty attractive first purchase offer and cash back offer in the first three months. First year annual fee is waived, but if you keep the card then the regular $59 annual fee comes with 2 Rapid Rewards credits each year.
Separately don’t forget that you can get 75,000 American Airlines miles after $4000 in spend within 6 months and first year fee waived from Citibank. (And in many cases, get the bonus twice.. once for a personal card and once for a small business card.)
(HT: Frugal Travel Guy)
Update: I really shouldn’t post at 5am, I’ve fixed my math to say the deal is 10% cash back ($500 Southwest gift cards on $5000 spend) not 5%…
Isn’t it 10% cash back?
100 = 10% of $1,000
150 = 10% of ($2,500 – $1,000)
250 = 10% of ($5,000 – $2,500)
or…
500 = 10% of $5,000
I loathe flying W9 (always have the most annoying human beings on earth sit next to me), but I couldn’t resist this deal. It’s gone really smoothly – free flight posted with my first statement, gift cards took a bit longer to arrive, but I got them all within a month or 6 weeks of hitting the required spend.
Your assumption that it’s an equal cashback percentage across the board is what’s killing you. 10% isn’t right either.
* $100 gift card after your first $1000 in purchases (10%)
* $150 gift card after your first $2500 in purchases (6%)
* $250 gift card after your first $5000 in purchases (5%)
Oh ho! I clicked through to the link and see that it’s additional gift cards. So it is 10%, but on your site it should look like the below (since you didn’t specify that it’s cumulative rather than total, like most listings of that type).
* $100 gift card after your first $1000 in purchases (10%)
* $250 gift card after your first $2500 in purchases (10%)
* $500 gift card after your first $5000 in purchases (10%)
This offer is very nice but not very new. It’s been discussed at FT since June (http://www.flyertalk.com/forum/southwest-rapid-rewards/1099377-southwest-credit-card-offer-free-flight-500-gift-cards.html). The annual fee waiver was not in the OP there but was posted months ago.