Southwest Airlines Introduces New Credit Card Offering Perks For Passengers

JP Morgan Chase (NYSE: JPM) and Southwest Airlines (NYSE: LUV) have partnered once again to release a new credit card featuring several benefits and perks for airline customers.

The Southwest Rapid Rewards Priority Credit Card comes with several benefits for travelers, including 7,500 bonus anniversary points per year, the two companies said in a press release on Thursday. The card also allows up to four upgraded boardings each year, when available, boasts a $75 Southwest annual travel credit, and 20 percent back on in-flight purchases including drinks, Wi-Fi, messages, and movies.

"Our customers are always our top priority, and we’re making it even easier for them to travel and get rewarded," said Leslie Gillin, Chase Co-Brand Cards President. "Our Southwest cardmembers told us they wanted faster boarding and in-flight benefits, so we added brand new features to make them a priority both in the air and on the ground."

The card, however, has a higher annual fee than its predecessors at $149, according to Chase. It does, however, offer users 2x points earned on each dollar spent with Southwest, and 1x point on any other transaction. It also allows customers to gain 1,500 tier qualifying points — toward elite status each year after spending a total of $10,000, with no foreign transaction fees.

News of the card comes as several other credit companies have benefits that reward customers for keeping their cards longer, like Barclays and its Arrival Premier card.

"We’re starting to see more issuers focus on rewarding people for loyalty, which is ultimately a good thing for consumers," Matt Schulz, chief industry analyst at CompareCards.com, a credit card website owned by LendingTree, told MarketWatch. ​