One Mile at a Time will earn a referral bonus for any purchases made using the links below. These are products and services that we use and the best deals we know. For more information, please see our Advertising Policy. We appreciate your support.Southwest Airlines Rapid Rewards just launched its latest promotion for purchased points. It's a strange concept to have a frequent flyer program that is revenue-based, selling points. Let's take a look at some details. But I will say upfront that this offer is one you shouldnt miss.Southwest Rapid Rewards points selling with a 65% bonusSouthwest is offering a bonus if you buy Rapid Rewards points through Thursday, August 26, 2021. Although different accounts may be eligible for different offers, I manage accounts that offer a tiered bonus up to 65%.Receive a 55% Bonus when you Buy between 5,000 and 9,000 PointsReceive a 60% bonus when you buy 10,000-14,000 pointsReceive a 65% Bonus when you buy 15,000+ pointsSouthwest allows you to buy up to 60,000 Rapid Rewards points per hour, but there is no limit on the number of points you can purchase each year. Southwest charges 2.75 cents per Rapid Rewards point purchased.You would pay $1,650 to purchase 60,000 Rapid Rewards points, which includes 39,000 bonus points. This is 1.67 cents per Rapid rewards point.This Southwests promotion on Rapid Rewards points purchased is average. Although we have seen better deals, none of them are really a good deal. I will explain why below.What is the value of Southwest points?Southwest Rapid Rewards is an revenue-based frequent flyer program. The number of points needed to book a flight directly correlates with the flight's revenue cost. Southwest devalued its Rapid Rewards points in April. To redeem a dollar of Southwest airfare, you will need to redeem approximately 83 Rapid Rewards Points.Each Rapid Rewards point can be used to pay for a Southwest Airlines ticket at 1.2 cents.Are Southwest Airlines points worth the investment?Let's cut to the chase, there are very few circumstances where Rapid Rewards points can be used. Even though points are often discounted, it is not worth buying them at 1.67c each. You can redeem them only for 1.2c each.Three scenarios are possible that I would like to discuss, including the main scenario, where it might make sense, but not really, which is to create a balance between Southwest points, given all the flexibility that this offers.Buy points to add to an awardSome people might purchase points to increase their Rapid Rewards account balance so that they can redeem for tickets. If you only need a few points, this may be worthwhile. Personally, I would just continue collecting points and redeem for my next ticket.Southwest Companion Pass - Buying PointsSouthwest Airlines Companion Pass offers one of the most value domestic travel options. You will need to earn 125,000 qualifying points per year. If you do, you can have a companion traveler with you for the standard taxes.Southwest points can be a great way to get a Companion Pass.Points could be purchased for as little as 1.67 cents per pieceThese can then be redeemed for 1.2 cents each toward travel, and a companion could fly with you. This would give you 2.4 cents value.There is no reason to do this. It's better to book a ticket for a nominal fee and have a companion fly along with you.Companion Pass is not possible if you don't buy Southwest Rapid Rewards points.A stash of Southwest Points is a good idea.Paying for your ticket with Southwest Rapid Reward points is a better option than paying in cash. Southwest Airlines does not charge change fees for award and revenue tickets.You can cancel a revenue flight but you must use the travel credit within a specified time. Also, you cannot travel with the same passenger if you cancel.You can cancel an award ticket and the Rapid Rewards points will be credited to your account. They can then be used at any time in the future.A stash of Rapid Rewards points is a great asset. This is what I use when I want to book travel for friends or family. There are no downsides. Even if you cancel a revenue flight, the credit must still be used by the same passenger within a certain time.Which credit card is best to buy Southwest points?You can purchase Southwest Airlines points by visiting points.com. These purchases do not count towards your credit card expenses as airfare.So I recommend that you use a card with a minimum amount of spending. If possible, choose a credit card that maximizes the return on your everyday spending.For more information on the best credit cards for buying points, see this post.There are other ways to earn Rapid Reward pointsThere are two best ways to earn Southwest Airlines Points.Bottom lineSouthwest sells Rapid Rewards points at a discounted rate of 1.67 per point.The only reason I believe it makes sense for you to purchase Southwest points is to build up your future stash to allow you to book speculative flights. I don't think there is much value short of that.This is still a good value for the Southwest Airlines Rapid Rewards points subscription.What circumstances would you consider it worth purchasing Southwest Airlines points?
