Is the Southwest Debit Card Worth the Monthly Fee? A Look at the Points and Perks

If you're a Southwest Airlines fan, you've probably eyed their co-branded credit cards. But there's another option that doesn't require a credit check: the Southwest Rapid Rewards Debit Card. It's a checking account with a debit card that earns you points toward flights and the coveted Companion Pass. Sounds great, right? Well, it comes with a catch—a monthly service fee. Let's break down whether the points and perks are enough to justify that cost for your travel habits.

The Good: A Steady Stream of Southwest Points

For loyal Southwest flyers, this card's real power isn't just the one-time bonus—it's the ongoing points drip. The yearly Companion Pass bonus of 7,500 points is a huge deal. If you're working toward that holy grail of BOGO travel, this gives you a significant annual head start, and all other points you earn count toward it too.

Then there's the annual spend bonus, which can net you another 7,500 points. Combine that with the earning on your regular spending, and you could be looking at a nice little points stockpile without ever touching a credit card. The January discount code and the annual flight credit are nice cherries on top for those who fly Southwest at least once a year.

The Catch: That Monthly Fee and Earning Speed

Here's the part that gives most people pause: the $6.99 monthly service charge. Over a year, that's $83.88. You can avoid it by keeping an average of $2,500 in the linked checking account, but that's money that isn't earning much (or any) interest for you elsewhere. You need to decide if the points you'll earn are worth more than the interest you're giving up or the fee you're paying.

Also, let's be real about the earning rates. One point per two dollars on general spending is slow. You'd earn rewards much faster with a good cash-back credit card on that same spending. This card shines brightest when used for its bonus categories: Southwest flights, your monthly bills, and dining out.

• The $2,500 minimum balance to waive the fee is a key hurdle. Could that money work harder in a high-yield savings account?
• The 3% foreign transaction fee makes this a poor choice for travel outside the U.S.
• Points post after your statement closes, so there's a delay compared to credit card points that often post per transaction.

Who This Card Makes Sense For

This isn't a product for everyone. It's a niche tool. Think of it as a supplement for a very specific type of traveler.

It could be perfect for you if: you're deeply loyal to Southwest and fly them multiple times a year; you're actively chasing the Companion Pass and want every possible qualifying point; you don't want or can't get another Southwest credit card (maybe due to credit); and you can comfortably park $2,500 in the account to avoid the fee without it impacting your finances.

If you're a casual Southwest flyer or someone who optimizes every dollar for maximum rewards, a general travel credit card will almost certainly offer better value for your daily spending.

Bottom Line

• The annual Companion Pass point bonus is the most valuable long-term feature for serious Southwest fans.
• Calculate if the points you'll earn annually are worth more than the $83.88 fee or the lost interest on a $2,500 balance.
• Use this card strategically for bonus categories (flights, bills, dining) and use other cards for everything else.
• This is a checking account product, so applying won't affect your credit score.

Common Questions