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Earlier last year, AwardWallet was the first to catch that Southwest started trialing what it called “Cash + Points” — a booking option that offers travelers the flexibility of paying with two currencies. It's a useful feature if you have a small balance of points in your account you otherwise can't redeem. However, the payment method's generally poor value makes it snooze-worthy for everyone else.
But now that changes for 2025 have since rolled out, it's worth revisiting Southwest's Cash + Points option. Here's what Rapid Rewards members need to know.
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What Is Southwest Airlines Cash + Points?
Southwest Airlines Rapid Rewards points are a helpful currency despite having limited utility outside of making your future Southwest travel cheaper. This value proposition improved once the airline introduced a Cash + Points feature in April 2024.
When you don't have enough Rapid Rewards points to book a flight, you can supplement the points in your account with a cash copay and complete the booking. Southwest will show you up to five options to apply Rapid Rewards points to your total bill — as long as you have at least 1,000 points in your Rapid Rewards account.
That's all well and good, but this practice is generally worth avoiding. That's because there's no set value for points redeemed for Cash + Points bookings.
The value varies by destination, day of travel, demand, fare class, and more. On a couple of mock bookings, we were able to secure around 1 cent per point used — far below the average value AwardWallet users get for Rapid Rewards points, which hovers around 1.52¢ apiece.
Southwest made changes to Cash + Points on January 1, 2025
On January 1, 2025, Southwest enacted changes to address one of the primary issues with Cash + Points. Travel booked with Cash + Points now earns Rapid Rewards points and tier qualifying points. Your earnings will depend on the cash portion of the fare type you book.
However, what didn't change was the value you get for your points. They're still worth less through mixed currency bookings than they are through non-mixed currency bookings (i.e., a ticket booked wholly with points).
In other words, if you want to get the most out of your points, you'll avoid Cash + Points. But if you just have a small balance of points you want to redeem (and don't want to try to earn more of them to book wholly with points), then this feature could be a lifeline.
Related: Do Southwest Rapid Rewards Points Expire?
Alternatives To Making Cash + Points Bookings on Southwest
Cash + Points bookings are generally unrewarding. But this is primarily because you get poor value from your points. But what should you do instead of trying out the Cash + Points feature if you're a few points short of booking a reward flight? Here are four primary solutions:
- Pay for your booking wholly in cash. You'll earn more Rapid Rewards and tier-qualifying points than you will on a Cash + Points booking.
- Purchase the differential amount of Rapid Rewards points outright. Occasionally, you can buy points with a bonus, which makes the all-points booking more cost-effective than paying wholly in cash.
- Make a purchase through Southwest Airlines Rapid Rewards Shopping. Depending on the number of points necessary for your award, knocking a few items off your online shopping list could put you over the threshold.
- Transfer points from Chase Ultimate Rewards to Southwest Rapid Rewards. You can instantly convert Chase points to Southwest points at a 1:1 ratio.
Even if you can earn points and elite status credits on your booking, there are better alternatives than redeeming your Rapid Rewards below fair value via Cash + Points.
Related: Best Credit Cards for Travel Purchases
Final Thoughts
If you frequently fly Southwest (for leisure or business), Cash + Points is a feature that's nice to know about but not one you should prioritize taking advantage of. It provides poor value for your points.
Yes, you'll earn points and elite status credits on the portion you pay for with cash, but these earnings pale in comparison to what you'd earn say you book wholly with cash. If you want to redeem your points for the best value, you're better off sticking to bookings made wholly with points — not a combination of multiple currencies.
But for the infrequent Southwest traveler with a nominal Rapid Rewards balance, Cash + Points is a nifty feature. Being able to redeem a small balance of points and offset the cost of a ticket is a big deal. And the opportunity to earn a few extra Rapid Rewards points on your booking to put towards a future redemption is the cherry on top.
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