Although the past is not a complete guarantee of the future, you can look at how often Southwest has offered the 50,000 points bonus and notice that they typically offer up this promotion only a few times per year. And given how lucrative it is, it’s understandable why they limit access.
If you use the 50,000 Rapid Rewards points for “Wanna Get Away” airfare, you can get more than $700 in value. That’s one monster of a credit card signup bonus.
Keep in mind you have to pay the annual fee for the card ($99, which is NOT waived the first year) and the applicable govt taxes/fees on the flights (which are as low as $10 per flight). Plus, you need to spend $2,000 in the first three months after opening your account.
Even after the bonus, the card is worth keeping around, as you get 2 points per dollar spent on Southwest Airlines purchases (and 1 point per dollar spent on practically everything else). You’ll also get 6,000 points every cardmember anniversary.
Updated January 8, 2015