How much are Southwest Rapid Rewards worth?
The Southwest Rapids Rewards program offers a reliable, if unremarkable value proposition. To be honest, I believe that Southwest Rapid Rewards are worth more than their calculated ACRV. The primary reason for this relatively low valuation is that Rapid Rewards generally cannot be used for international premium cabin travel. This is where Southwest’s competitors shine. In fact, if you were to only look at domestic redemptions, Southwest arguably provides the best option. Furthermore, Southwest’s Rapid Rewards program offers a piece of mind the others don’t. Their “if we have a seat, you have a seat” policy means you’re always going to find award availability on a Southwest flight. And, while you’re never going to see 5 or 6 cents a point like you might with others, you’re also never going to be left stranded.
Although phenomenal international premium cabin award redemption rates will be generally unavailable to Rapid Rewards members, Southwest does offer something the others have yet to touch: the Companion Pass. This might be the single best status perk in the world. It allows those who’ve achieved “Companion Pass” status to designate an individual who is able to fly with them, free of charge. As if this value proposition wasn’t sweet enough, Southwest also allows companion travel on award tickets. So, if you’ve got a Southwest Companion Pass, you can effectively double our valuations.