Update 7/1/26: Through September 30, 2026 there is a promotion to get 1,000 bonus points with a direct deposit or $250 or more. It seems to be for new or existing users.
Original post 10/28/25:
Southwest Express Rewards Debit Card
Southwest has officially launched a new Rapid Rewards Debit Card, issued by Sunrise Banks. The card earns Rapid Rewards points on debit spend and includes some small travel benefits and annual bonuses.
- Fees: $6.99 monthly fee, waived with an average monthly balance of $2,500.
- Welcome bonus: 2500 points Fast Rewards after making two recurring deposits and spending $100 within the first 90 days.
Key details
Profit structure:
- 1 point per $1 spent on Southwest Airlines purchases
- 1 point per $1 spent on dining and subscriptions, including internet, phone, streaming services, utilities and insurance premiums
- 1 point per $2 spent on all other purchases
Benefits:
- Up to 7,500 bonus points each anniversary year based on annual net purchases: $5,000–$9,999 = 2,500 points; $10,000–$14,999 = 5,000 points; $15,000+ = 7,500 points
- 7,500 Companion Pass qualifying points each calendar year
- “You will earn a bonus of 7,500 Companion Pass qualifying points each calendar year. The bonus will be deposited into your Express Rewards account by January 31 of each calendar year or up to 30 days after account opening. Only one card account per person is eligible for a bonus of 7,500 Companion Pass points, must be associated with qualifying points for each year. an active Rewards account Fast at the time of transfer.”
- $35 annual Southwest statement credit
- “A statement credit will be applied to your account when your card is used for Southwest Airlines flight purchases (excluding advanced boarding and flight purchases) up to a maximum of $35 per calendar year. The statement credit(s) will be applied to your card account balance up to 140 days after your qualifying Southwest Airlines flight purchase posts a Southwest Airlines flight purchase to your account. for example, if purchase a Southwest Airlines flight ticket, but the airline does not post the transaction until the current calendar year is over, the cost of the ticket will be applied toward the next calendar year’s $35 annual statement credit.”
- 20% off promo code issued every January
- “You will receive a 20 percent off promotion code each calendar year. The promotion code will appear in your Fast Rewards account each year by January 31 as long as your card account is open, in good standing, and linked to an active Fast Rewards account as of December 31 of the previous promotional year. The calendar code will be valid for one year from the date of delivery, which will be valid within one year from date of delivery Promo code is not valid on base fare bookings Promo code must be entered in promo code box at checkout and will apply to base fare before government taxes and fees Applicable taxes, fees and other charges imposed by government or airport may vary significantly based on your destination of arrival and departure codes, special offers or towards the purchase of a card gift or previously booked flight, or change to a previously booked flight. Promotional code is valid for flights booked on Southwest.com and the Southwest mobile app.”
Other notes:
- All points earned (including bonuses) count towards the Companion Pass
- No fees at Cirrus network ATMs
- No credit check required
Our verdict
This product reflects previous Wyndham debit cardHOW we thought in the previous main postand it will be interesting for people against credit cards. The profit rates aren’t great, and you also have to swallow $84 a year in fees or park $2,500 there to avoid the fees.
That said, the benefits here can help offset the $84/year fees. I can see someone signing up for the card to help them meet the Companion Pass request with 7,500 Companion Pass points. Southwest’s $35 annual credit and 20% coupon will also be valid for Southwest flyers.
It looks like someone can sign up for the card in the Nov/Dec/Jan time frame and get the 7,500 Companion Pass points and the 20% coupon and also use the $35 Southwest credit at sign up. You’ll also receive a 2,500-point sign-up bonus (total of 10,000 points toward Companion Pass eligibility). You can then decide whether to keep the product year-round or close it. That said, I don’t know if the bank will allow the card to be opened every year or be limited to opening it once, so keep that in mind before closing.
Another perspective might be to use the card at merchants that only allow debit cards (or that charge a fee to use a credit card). This card can be a way to rack up points for those expenses as well.
