Southwest Rapid Rewards Premier by Chase: 3X Southwest, 2X grocery & restaurants (first $8K/yr combined), 3X Lyft (through 2027), 1X everything else. $149…
The Southwest Rapid Rewards Premier is Chase's mid-tier credit card. The $149/yr annual fee includes a 60,000-point welcome bonus after spending $3,000 in the first 3 months. Beyond the welcome bonus, here's what the card actually delivers.
| Credit | Value | What it covers |
|---|---|---|
| DoorDash quarterly discount | $40/qtr | $10 off one qualifying non-restaurant DoorDash order per calendar quarter ($40/yr). Requires active DashPass membership. Through 12/31/27 |
Welcome bonus value (year one): ~$780. Annual statement credits: $40. Minus the $149 annual fee = ~$671 in year-one net value before any spending earn.
Best fit: someone whose category spending matches the card's earn multipliers. Skip if: your spending pattern is flat across categories — a 2% flat-rate card would beat this.
60,000 points after spending $3,000 in the first 3 months. At our ~1.3¢/pt valuation, that's roughly $780 in real value.
Year-one math: welcome bonus value (~$780) + annual credits ($40) − $149 fee = ~$671 net before spending earn. Year-two onward, the credits alone need to clear $149 — they do not. Worth it if you'll use the credits, skip if you'd let them expire.
1 recurring statement credit: DoorDash quarterly discount ($40). Total: $40/yr.
Check the card's terms — most premium travel cards waive foreign transaction fees, while no-fee and entry-tier cards usually charge 2-3%. Chase's product page has the current rate.