For those of you that have accrued Southwest points and just have no usage for them, redeeming for gift cards just got better! Through December 15, you will receive a 20% discount when redeeming your Southwest Rapid Reward points for many gift cards through their site. I just took a look at it, and there are a slew of gift card options, ranging from travel, department stores, gas stations, restaurants, etc. The travel gift cards include: Hyatt, Marriott, The Ritz Carlton, Fairmont, Royal Caribbean, Avis, Budget, Alamo, and Hertz.
You still get the biggest bank for your buck when redeeming your Southwest Rapid Reward points for free travel, but this option is not too bad! Redemption rates are the following:
- Southwest travel redemption: 60 points = $1 (always the case)
- Southwest gift card redemption: 80 points = $1 (through December 15)
This means that you can now redeem your 50,000 points from the just released Southwest Rapid Rewards Credit Card for $625 in gift cards (which would be $833 if redeemed on Southwest travel). Since you only need to make one purchase to receive the points (no minimum spend necessary), assuming you apply now and make a purchase soon, you should receive the points in time for this redemption. Also, when using your gift card on travel, there are no black out dates or capacity controls. The best part is you will still earn points with using your gift cards! Again, this will not get you a free flight to Europe, but $625 minimum from a credit card isn’t too bad. Read my post from last week detailing this new offer from Chase/Southwest. Credit card application link.
Hat tip to Frugal Travel Guy!