What is the percentage you get back for each dollar spent?

[Einhander]

I’m having a hard time understanding the points but if you had to do a very general estimate, how much money am I getting back (for flights) for every $100 I spend?

And how would you compare that to the Apple Card cash back? I believe I get back a buck and some change in cash for every hundred I spend on my Apple Card. 

[dfwskier]

One gets one Rapd Rewards points for every dollar spent. Sometimes there are promotions that provide more points than that.

Each point is worth roughly 1.3 cents -- that may change in the future.

[DancingDavidE]

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@Einhander wrote:

I’m having a hard time understanding the points but if you had to do a very general estimate, how much money am I getting back (for flights) for every $100 I spend?

And how would you compare that to the Apple Card cash back? I believe I get back a buck and some change in cash for every hundred I spend on my Apple Card. 

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As @dfwskier mentioned you get about $0.015/point to make it a round number - so 1.5%.

Then when you buy WGA flights you get 6 points per dollar.

If you use the Chase RR Visa you get a bonus of 1 point per dollar of all spending, and 1 additional point per dollar from Southwest.com.

So for $100 WGA fare you'd get 600 + 100 + 100 points worth $0.015 = 12% back on your $100.

If you bought Business Select obviously the same $100 fare would now be $400 for instance which would be 12x points plus 1x plus 1x . 21% back on your $400.

If you don't use the Chase RR Visa then remove the 1x and 1x points.

So for flights you get back more value than a 2% to 5% cash back card would provide. It benefits Southwest at the same time although the value to you is the full amount if they provide you a flight for points it doesn't really cost the airline the full amount so it's win-win.

[Einhander]

Wow! Thanks for putting it so simply and beautifully. 12 percent back now sounds like a heck of a lot! 1.5 percent cash, not so much.

[DancingDavidE]

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@Einhander wrote:

Wow! Thanks for putting it so simply and beautifully. 12 percent back now sounds like a heck of a lot! 1.5 percent cash, not so much.

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The cash you can use for anything, which is good. But if you are flying fairly often then the benefit in points value could be more.

There are other ways to redeem points which may not yield the $0.015 estimated value, flights are the best option for keeping the value high.