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Whether you've got a stash of Rapid Rewards in your Southwest Airlines account or you're eyeballing a five-digit welcome offer on a co-branded credit card, you might wonder what those points are worth. Here's a look at the value of Southwest Airlines Rapid Rewards points to help you better understand the numbers.
How Much Are Southwest Points Worth?
With Southwest Airlines, you know what you're going to get. The same goes for the Dallas-based airline's loyalty currency, Rapid Rewards points.
Southwest doesn't have an award chart or partner airlines to redeem points for a free flight on. Outside of a few ancillary ways to redeem points for merchandise and gift cards, the primary (and best) way to cash in Rapid Rewards points is to book an award flight.
Revenue-based programs like Southwest allow passengers to book any seat on their planes with points. However, without an award chart, the price fluctuates with the cash cost of the ticket. More expensive tickets command more points, and vice versa.
Southwest generally fixes the value of its points within a defined range. Nowadays, the value fluctuates between 1.25 and 1.54 cents per point — give or take a bit on the margins. On average, AwardWallet users typically redeem Rapid Rewards points for 1.52¢ apiece, which is close to the upper end of the sliding scale.
Extracting maximum value from Rapid Rewards points
Unlike non-revenue-based loyalty programs, you won't be able to get more out of your points than the defined range suggests. That's the downside of fixed-value points currencies.
However, booking cheaper award tickets is an easy way to get more from your points and move closer to the upper end of the value range. Typically, the cent-per-point value you'll get is better for Wanna Get Away tickets than for Business Select tickets.
For instance, let's look at the cash and point rates for a flight between Chicago (MDW) and Seattle (SEA). Here are the cash prices, starting from $144:
And here's what those flights cost in points, starting from 9,218:
For the four ticket types available, Rapid Rewards members will receive different point valuations. Including the mandatory $5.60 security fee for award tickets in the calculation, the point values come out to these averages:
- Business Select: 1.45¢ per point
- Anytime: 1.49¢ per point
- Wanna Get Away Plus: 1.57¢ per point
- Wanna Get Away: 1.61¢ per point
Unless you need the extra flexibility, booking Southwest's cheapest fare will keep more points in your account for future redemptions. Otherwise, there's limited utility to booking Business Select, Anytime, or Wanna Get Away Plus fares.
Related: How To Choose the Right Southwest Airlines Credit Card
Comparison to other airline currencies
So, how does the value of a Rapid Rewards point stack up to other airline currencies? Here's a look at a handful of notable North American air carriers:
| Airline and Loyalty Program | Average AwardWallet Redemption Value |
|---|---|
| Air Canada (Aeroplan) | 1.85¢ |
| Alaska Airlines (Mileage Plan) | 2.1¢ |
| Delta Air Lines (SkyMiles) | 1.34¢ |
| JetBlue (TrueBlue) | 1.24¢ |
| Southwest Airlines (Rapid Rewards) | 1.52¢ |
| United Airlines (MileagePlus) | 1.94¢ |
Based on real user redemptions, Southwest Rapid Rewards fall in the middle of the pack value-wise. Ultimately, Southwest points are valuable, but there are limitations on what you can do with them and where you can go.
Related: Do Southwest Rapid Rewards Points Expire?
Changes Over Time to the Value of Rapid Rewards
While Southwest stands apart from its competition in several ways, it shares a commonality with other carriers: a periodic devaluation of its points. Over the years, Southwest Rapid Rewards points have become worth less. Simply, you need to redeem more of them to book a free flight now than in the past.
Thankfully, the devaluations aren't overly drastic. In 2018, Southwest devalued most awards by nearly 6% and did so again by 6% a few years later in 2021. And late last year, Southwest announced an additional 4% devaluation that took effect in January 2024. That's a surprising number of devaluations.
Prior to 2018's devaluation, Rapid Rewards members typically needed to redeem 72 points per $1 of a Wanna Get Away base fare. Now, that number is roughly 86 points per $1 of base fare — a nearly 20% increase over a six-year period.
Whether you're a current or prospective Southwest loyalist, it's important to understand the airline has a proclivity to make awards incrementally more expensive every couple of years. In other words, if you're going to earn Rapid Rewards points, you should prioritize redeeming them before they become less valuable.
Final Thoughts
There exist many reasons to love the Southwest Airlines Rapid Rewards loyalty program. Among them is a rewarding fixed-value point currency good for one thing: booking Southwest flights. While Southwest isn't a stranger to devaluing its points, the pros of collecting Rapid Rewards can still outweigh the cons.
FAQ
How much is 10,000 Southwest points worth?
On average, AwardWallet users redeem Rapid Rewards for 1.52¢ apiece. This value makes 10,000 Southwest points worth about $153 in award travel.
How much is 40,000 Southwest points worth?
On average, AwardWallet users redeem Rapid Rewards for 1.52¢ apiece. This value makes 40,000 Southwest points worth about $612 in award travel.
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