For existing Southwest Rapid Rewards members, scanning through your Rapid Rewards account statement might become more casual or even bypassed altogether.
Southwest Rapid Rewards Points Changes
According to Frequent Miler’s initial report and verified by a TPG writer on Nov. 10, Southwest has officially announced the following change:
Beginning Jan. 1, 2024, the redemption rate for Rapid Rewards points used to purchase flights will see an approximate 4% increase in points required per dollar of base fare.
At present, Southwest Rapid Rewards points hold a value of 1.4 cents each. However, with the upcoming alteration, their value is slated to decrease to 1.3 cents per point.
Individuals securing 2024 travel before the January 1 change won’t be impacted. Therefore, securing award flights is advisable before the revision takes effect.
According to a statement provided to TPG by a Southwest representative, Rapid Rewards Members were recently informed about a slight uptick in the number of points needed per dollar of the base fare for Wanna Get Away®, Wanna Get Away Plus®, Anytime, and Business Select® fares starting January 1, 2024.
The airline aims to prioritize customer experiences and uphold its commitment to delivering unwavering Southwest Hospitality. This adjustment aligns with adapting to the existing environment and increased cost pressures, forming a regular part of the airline’s business evolution.
Loyalty Program Devaluations
Even with the prior announcement from Southwest about the change, it’s not the initial devaluation in their points system, which already links the required points to the cash price. In 2021, the loyalty program reduced the value of Rapid Rewards points by 6%.
Although a 4% increase in necessary points for an award flight might not appear significant, it’s intriguing within a program already tied to revenue.
Considering the ongoing trend, another devaluation in Rapid Rewards within a couple of years wouldn’t be surprising.
Stay tuned with us. Further, follow us on social media for the latest updates.