The Southwest debit card offers an annual 7,500-point Companion Pass qualification bonus. Eligible purchase rewards, the welcome bonus and the annual-spending bonus also count under its terms. It’s a separate account from a Chase Southwest credit card, with its own fees and deposit requirements.
Know which debit-card bonus you’re counting
The debit card has a 7,500-point annual Companion Pass qualification bonus, a welcome offer, and an anniversary bonus linked to annual spending. Each has its own requirements. The annual qualification bonus helps you earn the pass; it isn’t 7,500 points you can spend on flights.
The published welcome offer is 2,500 points after two qualifying recurring direct deposits and $100 in qualifying purchases within 90 days. Its terms allow transfer within eight weeks after the 91st day from opening. That wait makes it hard to rely on for a last-minute year-end plan.
The annual spending bonus has tiers: 2,500 points for $5,000–$9,999.99 in annual qualifying purchases, 5,000 for $10,000–$14,999.99, and 7,500 for $15,000 or more. Check the account-anniversary period rather than assuming it matches January through December.
When the annual qualifying bonus arrives
The account terms include one 7,500-point Companion Pass bonus per calendar year, deposited by January 31 or up to 30 days after account opening. The account must be open, in good standing and linked to an active Rapid Rewards account.
This debit benefit and the eligible credit-card 10,000-point boost are separate. If both actually qualify in the same year, the arithmetic is 135,000 − 10,000 − 7,500 = 117,500 other qualifying points needed. Verify both credits in the qualification tracker and don’t add them again if they’re already included in your entered total.
What the account costs
The monthly fee is $6.99 unless you keep a minimum average monthly balance of $2,500. Twelve monthly fees come to $83.88. If you keep the balance to avoid the fee, consider the interest that money could earn elsewhere.
Most eligible purchases earn one point per $2; certain categories earn one point per $1. Compare that with the card you’d otherwise use. The account doesn’t require a credit check, but you still have to meet its opening and identity-verification requirements.
Who might find it useful
If you’re close to the points target and would use the account anyway, the annual bonus may help. Starting from zero is a different matter: you’ll still need to earn most of the points elsewhere.
Give each bonus its own expected posting date. An annual bonus that arrives before December 31 and a welcome bonus that arrives next year won’t count together, even though you opened the account in the same year.
Sources for this chapter
Last checked October 4, 2026.
- Southwest: Rapid Rewards debit-card benefits
- Southwest debit card: eligibility, earning and bonus terms
- Southwest: Rapid Rewards program terms