It is a FANTASTIC offer. I love Southwest and so far this card has been great!
1. Every single fare has a point value. It is a formula where $1 of fare = 60 points (for the Wanna Getta Way fare class). So a $100 flight is 6,000 points. There are no blackouts or restrictions, so if there is a seat on the plane, you can use points!
2. No cancellation or change fees. If you cancel or change a flight your points just drop back in your account. They are not tied to the name on the reservation.
3. No baggage fees on Southwest!
4. There is an annual fee, but they give you enough points on your anniversary to cover the fee basically. I have the $99 fee card, and I get 6,000 points on my anniversary. This offer is $69 fee with 3,000 points on your anniversary, which basically makes the annual fee $19.
5. There are tons of ways to get bonus points in your rapid reward account. They send out emails, have partners, etc. Plus they have something called tiers that give you bonus points for each level you reach.
6. You get 1 point for every dollar you spend on the card. So if you charge $749 this month, you get 749 points. I used to use the Disney card and if I charged $749 I would only get $7 rewards dollars. I like getting something for every single $ I spend.
I honestly cannot believe how fast I am racking up rewards on this card. We can generally get a flight out of PHL in the 12-13k point range. I already have 62,000 points in my account (50k from offer and 12k that I've earned) and I only got the card in August. I charge all my bills to the card except for gas and pay it off weekly. It is a GREAT card!