Southwest Chase credit card signup -- 1 RT ticket + $500 in gift cards

I saw someone start a thread on Slickdeals about this card, was surprised FWF didn't have anything on it (Let me know if I missed the thread).

http://www.mychasecreditcards.com/southwest/DenverSpecialOffer

Rorer has a better link, first year annual fee waived: http://www.mychasecreditcards.com/6000054/Default.aspx

$59 annual fee
Free round trip ticket after first purchase (16 RR credits)
$100 gift card when you spend spend $1000 total within 3 months
$150 gift card when you hit $2500 total within 3 months
$250 gift card when you hit $5000 total within 3 months

Here's a link to the flyertalk thread: http://www.flyertalk.com/forum/southwest-rapid-rewards/1099377-southwest-credit-card-offer-free-flight-500-gift-cards.html

Flyertalk mentions it was a targeted offer, ymmv

newlin99 said: Flyertalk mentions it was a targeted offer, ymmv

Flyertalk says "Supposedly targeted for the denver market, but I don't see why anyone else can't just click on through and sign up." I don't think that is as strict as the 32 RR credit targeted offer. I might have chance it.

Here's the fine print on the GCs. I've bolded some interesting info:

Chase Fine Print said: Qualifying transactions must be posted within 90 days from account opening. Qualifying transactions include purchases, balance transfers and any checks that are used to access your account, but exclude cash advances. You will receive a $100 southwestgiftcard after you make qualifying transactions totaling $1,000 or more, an additional $150 southwestgiftcard after you make qualifying transactions totaling $2,500 or more and an additional $250 southwestgiftcard after you make qualifying transactions totaling $5,000 or more. After qualifying, please allow 6 to 8 weeks for delivery. Southwestgiftcards cannot be shipped to PO Boxes or addresses outside the 50 United States and Washington D.C. This bonus offer is valid only for first-time Southwest Airlines Rapid Rewards personal Cardmembers. Existing Southwest Airlines Rapid Rewards personal Cardmembers are not eligible for this bonus offer.

So say you open the card, buy something, pay it off, BT $5k, pay it off. You're out 3% of $5k plus the credit hit from the application and interest (note that there is NOT a 0% APR on BTs so you'd have to pay it off pretty quickly). In exchange, you get:

1. 16 Southwest credits for first purchase (good for 1 roundtrip).
   
2. 4 Southwest credits for BT over $4800 (can get up to 8 if you BT $9600 or more).
   
3. $500 in Southwest gift cards. Presumably you actually fly Southwest if you're interested in this, but you could also exchange it for $400 in cash or $420 in Amazon GCs on PlasticJungle.

Sounds pretty good to me. Of course, if your monthly spend gets you up to $5k in 3 months, that's probably cheaper/easier than BTing; you would get 4 Southwest credits' worth in rewards from spending that much, even if none of it is on Southwest or its partners. Has anyone who's not targeted/in the Denver area gotten approved for this offer?

How long do you have to keep the account open before you can close it and keep the round trip?

Indianaman79 said: How long do you have to keep the account open before you can close it and keep the round trip?I would close it the month before the AF will be charged.

flowindex said: Does anyone know how to check how many points is needed for a particular Southwest flight. On their website it would not let me see the points needed until I signed in. Once I signed in it told me I didn't have enough point and would not let me proceed.16 RR credits.

"You will earn 2 Reward Dollars for each $1 of net purchases made directly with Southwest Airlines, including: flight, inflight, southwestgiftcard, and Southwest Airlines Vacations package purchases. You will earn 2 Reward Dollars for each $1 of net purchases at participating Southwest Airlines Rapid Rewards Preferred Hotel and Rental Car Partners. You will earn 1 Reward Dollar for each $1 of all other net purchases. Each year, you will receive 2,400 Reward Dollars (2 Rapid Rewards credits) after your Anniversary. ("Anniversary" means the year beginning with the date of your account opening through the first statement after the anniversary of the date of your account opening, and each 12 months thereafter.) Once you earn 1,200 Reward Dollars, you will receive 1 Southwest Airlines Rapid Rewards credit. You do not earn Reward Dollars on balance transfers after the first 90 days from account opening, cash advances, any checks that are used to access your account, travelers checks, overdraft advances, interest, unauthorized or fraudulent charges, or fees of any kind, including fees for products that protect or insure the balances of your account. See Southwest Airlines Rapid Rewards Visa Program Rules and Regulations, which will be mailed after your account is established."

Rorer714 said: AF waived for the first year.
http://www.mychasecreditcards.com/6000054/Default.aspx

Very cool. Where did you find this link? Was it targeted?

flowindex,

Yup all their flights, regardless of distance, are 16 RR credits. Subject to a few blackout dates and availability naturally.

sithayan said: The reward credits expire in 1 year. Something to keep in mind.I haven't flown SW in a while, but I remember you could also extend your reward voucher another year for $50 (for a total of two years).

Will Chase approve me for a 5th card? Lets find out! DW needs to do this one, for sure.

just got rejected for citi diamond card.. should i get another hard pull in such short time? hmmm

aaronl said:

At least I ended up applying for a Delta SkyMiles card at the same time, and picking up 35k (pretty worthless) miles.

Those miles are worth $350 in gift cards. How is that worthless?

They'll let me know in 15 days. Already have 4 cards. WOuld be willing to close one to get this one, for sure.

At least 15 days for me, too:

Thank you for submitting an application.

Your credit card application has been received and we will be sending you a response via U.S. Mail within 15 to 30 days. In the meantime, please refrain from submitting any additional applications. We will only be able to consider your first application.

Would anyone know if there is someone to retain the RR credits, if I were to not use them towards a roundtrip flight during the first year (i.e. while avoiding the annual fee)? For example, can I somehow route the RR credits into my Southwest account?

monto888 said: Would anyone know if there is someone to retain the RR credits, if I were to not use them towards a roundtrip flight during the first year (i.e. while avoiding the annual fee)? For example, can I somehow route the RR credits into my Southwest account?

The annual fee is not charged the first year if you use the 2nd link in the orginal post. If you don't use the credits for a ticket in the first year, you can reactivate them for a $50 fee to use in the next year.

15 day wait. CS ~770
15 day wait. CS ~700

Has anyone gotten instant approval, or does it seem like it is set for auto review +15 days?

Anyone have any luck calling for approval status?

Wife got a phone call yesterday. Moved 5k from her BA card to this one and they opened it. Woot.

Probably better off closing it so you can apply for the 50,000 bonus point card in a while.