SWA Credit Card Annual Fee
#31
Original Poster
Join Date: Nov 2008
Location: Arizona
Programs: AA, WN
Posts: 161
It also unfortunate that one can't downgrade to a Chase no annual fee credit card from a SWA card without closing a card and affecting a credit score. Seems like the company policy is set-up to repel rather than attract long-term customers. The marketing department needs improvement.
#32
Join Date: Nov 2015
Location: St. Louis, MO
Programs: Southwest Companion Pass
Posts: 790
Ok, here's the million dollar question:
Why did the OP keep a card for 20 years that they feel does not offer good value?
Personally i dont know why anyone would keep this card past the first year. But assuming the OP does fly WN often there are much better options.
My advice, if RR points are important to you, would be to apply for the Southwest priority card and get that signup bonus. With the $75 credit and the 7,500 points, this card more than pays for itself so long as you fly Southwest. Then i would cancel your other card when the $69 fee hits. Make sure to wait until your annual bonus post to your RR account. Your annual fee will be refunded but you will keep the points.
The hit to your credit rating has been overstated. Even if its your oldest card it will remain on your credit report for ten years. In the meantime, other accounts will have time to age and lessen the effect on your score.
Another option would be to upgrade to the Priority card. But by doing so, you would lose the signup bonus. However you would keep your oldest account alive.
Why did the OP keep a card for 20 years that they feel does not offer good value?
Personally i dont know why anyone would keep this card past the first year. But assuming the OP does fly WN often there are much better options.
My advice, if RR points are important to you, would be to apply for the Southwest priority card and get that signup bonus. With the $75 credit and the 7,500 points, this card more than pays for itself so long as you fly Southwest. Then i would cancel your other card when the $69 fee hits. Make sure to wait until your annual bonus post to your RR account. Your annual fee will be refunded but you will keep the points.
The hit to your credit rating has been overstated. Even if its your oldest card it will remain on your credit report for ten years. In the meantime, other accounts will have time to age and lessen the effect on your score.
Another option would be to upgrade to the Priority card. But by doing so, you would lose the signup bonus. However you would keep your oldest account alive.
Last edited by Critterlynn; Oct 12, 2019 at 7:20 pm
#33
Join Date: Jun 2015
Location: DAY
Programs: Rapid Rewards, Skymiles, Hilton HHonors, SPG/Marriott Rewards
Posts: 4,898
#34
Join Date: Nov 2015
Location: St. Louis, MO
Programs: Southwest Companion Pass
Posts: 790
After reading through the OP's posting history, it makes absolutely no sense for him/her to have any airline or hotel loyalty card. There were numerous post about redemptions of points for magazines and amazon gift cards. I'd imagine at most they were redeemed for $.01/point. Possibly less.
#35
Join Date: Dec 2018
Posts: 825
I have had this card for over 20 years with never a late payment and the representative wouldn't budge when I asked about waiving the annual fee of $69 that is impending next month. Customer loyalty and excellent payment history meant nothing. The 3,000 annual bonus points doesn't come close to negating the annual fee. Representative also could not guarantee a statement credit would be offered if I called in the future asking for one in the amount of the annual fee. So basically, I would have to gamble to see if the representative would offer a statement credit next month. If not, then I would cancel and then immediately lose $69.
I am disappointed at how the SWA Chase Visa disvalues longtime customers.
I am disappointed at how the SWA Chase Visa disvalues longtime customers.
#36
Join Date: Dec 2018
Posts: 825
Ok, here's the million dollar question:
Why did the OP keep a card for 20 years that they feel does not offer good value?
Personally i dont know why anyone would keep this card past the first year. But assuming the OP does fly WN often there are much better options.
My advice, if RR points are important to you, would be to apply for the Southwest priority card and get that signup bonus. With the $75 credit and the 7,500 points, this card more than pays for itself so long as you fly Southwest. Then i would cancel your other card when the $69 fee hits. Make sure to wait until your annual bonus post to your RR account. Your annual fee will be refunded but you will keep the points.
The hit to your credit rating has been overstated. Even if its your oldest card it will remain on your credit report for ten years. In the meantime, other accounts will have time to age and lessen the effect on your score.
Another option would be to upgrade to the Priority card. But by doing so, you would lose the signup bonus. However you would keep your oldest account alive.
Why did the OP keep a card for 20 years that they feel does not offer good value?
Personally i dont know why anyone would keep this card past the first year. But assuming the OP does fly WN often there are much better options.
My advice, if RR points are important to you, would be to apply for the Southwest priority card and get that signup bonus. With the $75 credit and the 7,500 points, this card more than pays for itself so long as you fly Southwest. Then i would cancel your other card when the $69 fee hits. Make sure to wait until your annual bonus post to your RR account. Your annual fee will be refunded but you will keep the points.
The hit to your credit rating has been overstated. Even if its your oldest card it will remain on your credit report for ten years. In the meantime, other accounts will have time to age and lessen the effect on your score.
Another option would be to upgrade to the Priority card. But by doing so, you would lose the signup bonus. However you would keep your oldest account alive.
#37
Join Date: Nov 2015
Location: St. Louis, MO
Programs: Southwest Companion Pass
Posts: 790
#38
Join Date: Dec 2018
Posts: 825
P2 holds the premier card since 2009 as her anchor card, we take a net loss of $15 but between the history reporting to the cbr and the ability to top up if need be we are fine paying the fee as most of our spend goes on cfu, cf and csr to optimize rewards.
#39
Join Date: Jan 2014
Location: Denver, Colorado
Programs: IHG Spire, Hilton Honors Gold, Marriott Titanium, Mileage Plus Gold
Posts: 1,736
Well OP thinks $20K per year spend somehow makes him more valuable to Chase than others. There are many people who pay $450 AF PER CARD and spend WAY WAY more than that on their cards and still don't get a break. My 1 year AF on 1 Chase card is equivalent to 6.5 years of OP's $69 dollars AF. By OP's logic, since the interchange fee on my card is higher because it's a premium card (How interchange fee works) and I spend way more on it, Chase should be kissing my rear end daily and giving me AF waivers, since I'm more deserving on a per dollar basis but they don't and I don't expect them to.
My AF just came due also on the AMEX Platinum at $725. $550 primary plus $175 for authorized users. At 3%+ interchange fee AMEX charges, AMEX should be bending backwards to kiss my rear end but they don't. Its not even a thing I would be thinking to ask for in the first place.
My AF just came due also on the AMEX Platinum at $725. $550 primary plus $175 for authorized users. At 3%+ interchange fee AMEX charges, AMEX should be bending backwards to kiss my rear end but they don't. Its not even a thing I would be thinking to ask for in the first place.
#40
Join Date: Jul 2013
Posts: 5,813
I had that happen to a Chase card recently.
#42
Join Date: Dec 2018
Posts: 825
I once was in ops shoes charging 25k on my wn premier card as my daily driver then I found out about how I could diversify my annual spend, optimize my rewards and get free hotels and resorts with new account bonuses to supplement normal earnings.
#43
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,927
Then I suggest you get a no-annual-fee credit card of some kind right now and plan to keep that card "forever".
That'll give you more options regarding your existing Southwest card, because it'll start new "long-held card" history. Yes, it'll take some years before it's significant "long-held card" history, but better to start now than later, if you're not sure how much longer you're going to keep this Southwest card and it's the only one you have.
It is indeed unfortunate for you, but I think you may not realize how rare your situation is. Most people don't have one card with an annual fee and no other cards. Most people don't move up to an annual fee card until they've got other cards with no annual fee. And thus most people aren't in your situation where the card with an annual fee that you can't downgrade is your only card.
So I bet Chase didn't expect anyone to be in your situation, when they came up with their marketing approach. So you may want to talk to a "supervisor" at Chase and explain your situation and see if there's any kind of exception they can make given your situation (of this being your only card that you've had for the last 20 years).
Chase does downgrade partner cards to generic cards when those partner cards are discontinued. So there is some mechanism within Chase for downgrading from partner cards to generic cards. It's just that it might take "special intervention" to make it possible in a case where the card isn't being discontinued.
But again, I suggest you apply for a no-annual-fee "keeper" card first, and do everything else later.
That'll give you more options regarding your existing Southwest card, because it'll start new "long-held card" history. Yes, it'll take some years before it's significant "long-held card" history, but better to start now than later, if you're not sure how much longer you're going to keep this Southwest card and it's the only one you have.
So I bet Chase didn't expect anyone to be in your situation, when they came up with their marketing approach. So you may want to talk to a "supervisor" at Chase and explain your situation and see if there's any kind of exception they can make given your situation (of this being your only card that you've had for the last 20 years).
Chase does downgrade partner cards to generic cards when those partner cards are discontinued. So there is some mechanism within Chase for downgrading from partner cards to generic cards. It's just that it might take "special intervention" to make it possible in a case where the card isn't being discontinued.
But again, I suggest you apply for a no-annual-fee "keeper" card first, and do everything else later.
Last edited by sdsearch; Oct 13, 2019 at 10:23 am
#45
Original Poster
Join Date: Nov 2008
Location: Arizona
Programs: AA, WN
Posts: 161
After reading through the OP's posting history, it makes absolutely no sense for him/her to have any airline or hotel loyalty card. There were numerous post about redemptions of points for magazines and amazon gift cards. I'd imagine at most they were redeemed for $.01/point. Possibly less.
True, but I have also redeemed for Southwest flights in the past as well. Mathematically, a no annual fee cash back card with a high percentage of cash back is equal to or superior than the Southwest Visa.