Southwest Rapid Rewards: Best Uses for Maximum Value (2025 Update)

Southwest® Rapid Rewards® points are a favorite of domestic travelers, but not all redemptions are created equal. We’ll break down which uses of Rapid Rewards yield poor value, which are decent, and which strategies can supercharge your value (including the famed Companion Pass®).

At a glance: The best value for Southwest points is almost always redeeming for Southwest flights (around 1.4–1.5 cents per point on Wanna Get Away fares).

Other uses like gift cards, merchandise, hotels, or rental cars typically give far less (often 0.4–0.8 cents per point).

Gift Cards (~0.5 CPP)

Not all Rapid Rewards redemptions are good deals. In fact, using Southwest points for anything other than Southwest flights usually yields a low value per point.

Gift Cards are a great example of this. Redeeming points for retailer gift cards gives only about half a cent per point. For example, 20,000 points might get you a $100 gift card (0.5 cents per point). That’s less than half the value you’d get using those points for a flight.

Merchandise (up to 0.6 CPP)

Using Rapid Rewards on merchandise (electronics, clothing, etc. via More Rewards) is similarly poor. You’ll generally get only 0.4–0.6 cents per point in value. In other words, a $200 gadget could cost ~40,000 points – a terrible deal when those points could cover a much more valuable flight.

Hotels and Other Travel (up to 0.85 CPP)

Southwest allows booking hotels, rental cars, and other travel experiences with points, but these redemptions yield well under 1 cent per point on average. Value here can range drastically but generally falls around 0.5 to 0.85 cents per point.

These “travel” redemptions drastically undervalue your points compared to airfare.

“International Partner” Flights via More Rewards (~1.0 CPP)

If Southwest doesn’t fly where you want to go, credit card holders can use points in the More Rewards portal to book flights on other airlines.

However, expect only around 1 cent per point value here. That’s better than gift cards, but still 30–40% lower value than using points on Southwest’s own flights. (Plus, you must pay any taxes/fees, and these bookings don’t leverage Southwest’s usual perks.)

Why these are worst: Rapid Rewards points are typically worth ~1.4 cents each toward Southwest flights

Anytime Fares (~1.3–1.5 CPP)

Using your Rapid Rewards for Southwest flights is where you start getting value. In fact, redeeming for Southwest flights is almost always the best use of these points.

Southwest has no blackout dates or award chart – instead, award prices are tied to the cash price of the ticket (revenue-based). The exact value per point can vary slightly by fare type and route, but generally hovers around 1.3 to 1.5 cents per point.

Here’s how different fare classes stack up:

• Anytime Fares (~1.3–1.4 CPP): Anytime fares are fully refundable in cash and earn more points when paid with cash, but when redeeming points you don’t get those earnings. The value is a tad lower, but still decent. Since all award tickets on Southwest are freely cancelable and points are refunded, booking an Anytime fare with points mainly makes sense only if the below options are sold out or you specifically want priority boarding.
• Wanna Get Away Plus (~1.4 CPP): Here you get added flexibility like the ability to transfer unused flight credits and free same-day confirmed changes. The value per point is slightly lower than standard Wanna Get Away rates, but still viable.
• Wanna Get Away Fares (~1.4–1.5 CPP): This is Southwest’s cheapest fare class, and it also gives you the highest value per point. For example, a $150 WGA ticket might cost ~10,000 points (plus the $5.60 security fee) – a solid deal.

Value can vary by routes, price, and dates — still, you’ll generally you’ll float around 1.3 to 1.5 cents in value.

Bottom line: if your goal is stretching points, book Wanna Get Away awards whenever available.

Companion Pass Redemptions (~2.6-3 CPP)

The Southwest Companion Pass is often called “the holy grail of domestic travel perks,” and for good reason. It’s not an award redemption itself, but it turbocharges all your Southwest redemptions (and paid flights) for as long as you hold it.

What is the Companion Pass? It’s a pass that allows one person to fly free with you (plus taxes/fees) on Southwest flights, unlimited times.

The Southwest Companion Pass isn’t a redemption itself, but it doubles the value of your points whenever you use it – making it the ultimate Rapid Rewards strategy. With Companion Pass, you can choose a companion to fly with you for only taxes and fees (no points required for the companion) on any Southwest flight you book, whether you paid cash or points. That means if you book an award ticket for yourself, your companion flies free (you just pay the ~$5.60 fee for them).

In effect, your points are now getting two tickets for the price of one. This can drive your value per point to 2.8–3.0 cents in practice (since that 1.4 cents per point flight for one becomes ~2.8 cents per point when it covers two people).

Why People Love Southwest

Flexible Cancellation = Hidden Value: One big advantage of Southwest awards is flexibility. **If you book with points, any cancellation fully refunds your points and the small taxes/fees. This applies even to nonrefundable fares. In practice, booking a WGA fare with points is just as flexible as a refundable ticket! You can change or cancel Southwest award flights with no fees anytime. If the points price drops later (say during a fare sale), you can rebook, and Southwest will refund the point difference to your account. This generous policy effectively lets you “price match” any future sales, boosting your redemption value without penalty.

(Tip: set fare alerts or keep checking – rebooking can save thousands of points if a sale hits.)

No Blackouts or Complications: If a seat is for sale, you can book it with points. This means you can also use points for last-minute flights or popular holiday travel when cash fares are high. The CPP might stay around ~1.4, but you’re saving a lot of cash on an expensive ticket. This consistency and ease of use are why people like Southwest Points.

Booking During Sales for Lower Points: Southwest frequently runs fare sales (e.g., seasonal sales with $49 or $79 fares) – when cash prices drop, so do award prices. Plan your award bookings around these sales to snag flights for fewer points. If you’ve already booked and the fare goes on sale, use Southwest’s free change policy to rebook and get points refunded. This way, you always pay the lowest possible points price for your trip.

Speculative Bookings (Lock-in Plans Risk-Free): Because you can cancel awards without penalty, you can book travel before you’re 100% sure and cancel later if needed. See a great fare months out? Book it with points now to lock it in. If your plans change, cancel and get all your points back. This flexibility can secure you low-point deals on popular routes/dates that might rise in price later. Essentially, Southwest’s policy lets your points function like fully refundable currency, which is a useful trick for planning travel during uncertain times.

Conclusion

In summary, redeeming points for Southwest flights (especially WGA fares) is the bread-and-butter strategy for good value. You’ll typically get 3× more value per point than using them for gift cards or merch. Maximize value by sticking to the cheapest fare class available for your route, and take advantage of Southwest’s no-fee changes to always pay the lowest point price.

(Remember: you’ll still owe the $5.60 TSA security fee per one-way domestic ticket, even on awards. Taxes can be higher for international awards, but you’re still only paying a small amount of cash.)

When it comes to the best of the best: earn the Companion Pass if you can – it’s the single greatest amplifier of Rapid Rewards value, turning your points into two tickets at once. Leverage Southwest’s frequent fare sales and occasional points promos to further boost your value, and don’t hesitate to reprice your awards if costs drop – Southwest will refund the difference in points, a courtesy most airlines don’t offer.