Thanks much for the thoughts, folks.
Quick question: Where can I get details on the "+8" part? How long do I have to maintain the transfer at WN without paying it off? Anyone know? Thanks for any info.
EDIT: Found partial info in ftnoob's link:
One bonus credit will also be credited to your Rapid Rewards account for each $1,200 in balance transfers within the first 90 days from account opening, up to a maximum of 8 credits (or $9,600). Balance transfers are subject to a fee of 3% of the amount transferred with a minimum of $5.00. Southwest Airlines will issue a free roundtrip flight for every 16 Rapid Rewards credits accumulated during any consecutive 24-month period. Please allow 6 to 8 weeks for bonus credits to post to your Rapid Rewards account. This one-time bonus offer is valid only for first-time Southwest Airlines Rapid Rewards personal cardmembers. Existing Southwest Airlines Rapid Rewards personal cardmembers are not eligible for this bonus offer.
Hmmmm. So I'd have to pay a $288 balance-transfer fee to get those eight points, and that's without knowing whether there's a grace period to pay off the transfer before the 13.24% interest rate
listed on the Visa application kicks in or whether I'll be required to maintain a balance at 13.24% interest for X period of time....Doesn't sound like a good deal unless I'm going for Companion Pass (I'm not). Especially since $288 will buy a roundtrip ticket to probably 80% of the destinations WN serves from BNA - and I'd still get 2.5 RR for going that route. (Just an aside: The Choice Hotels Plat card, which allows points conversion to RR at nearly the rate given by SWA Visa, offers balance transfers of up to $11,000 at only 5% interest and no transfer fee. Although that's going to change in June, it's still only 2% of the balance as opposed to 3% - and a full 8 percentage points less interest.
Although, point duly noted vis a vis Choice abruptly and without notice devaluing its RR conversions. I recall the brouha when people were transferring through CO, Amtrak and Choice to get RR points and suddenly the reward rules were clear as mud.)
And, in SWA's favor: I do realize there's also a 2-credit gift every year at anniversary, which would require $1200 or so of spend on the Amex before the 4:1 bonus....and now I can use those Amex points to augment my existing balance or for something else. ^