Chase Ultimate Rewards points transfer to Southwest Rapid Rewards at a 1:1 ratio, so 10,000 Chase points become 10,000 Southwest points. Transfers are free and usually post instantly. You need a Chase card that allows transfers, such as the Chase Sapphire Preferred, Chase Sapphire Reserve, or Ink Business Preferred. Before you move anything, though, it helps to understand how Southwest has changed and whether the transfer gives you good value. This guide walks through the steps, the rules, and the math.

Step by Step: Moving Your Points to Southwest

Start by finding the flight you want on Southwest’s website or app and checking how many points it costs. Transfers can’t be undone, so you should know the exact price before you move anything.

Next, make sure you have a Rapid Rewards account. It’s free to join. The name on your Rapid Rewards account must match the name on your Chase card, because Chase only lets you transfer points to a loyalty account in the cardholder’s own name.

Then log in to your Chase account and open Ultimate Rewards. Look for the option to transfer points to travel partners and select Southwest Rapid Rewards from the list. The first time you do this, you will be asked to enter your Rapid Rewards number to link the accounts.

Enter the number of points you want to transfer in increments of 1,000 and confirm. In most cases, the points appear in your Southwest account right away, and you can return to Southwest to book the flight.

If you earn points with a no-annual-fee card, such as the Chase Freedom Unlimited or Chase Freedom Flex, those cards can’t transfer points on their own. You can move those points into your Sapphire or Ink Business Preferred account first, then transfer them to Southwest from there.

What Changed at Southwest in 2025 and 2026

Southwest has gone through the biggest overhaul in its history over the past two years, and some of the features people loved are gone. That affects how much your points are worth.

The airline ended open seating. Since January 27, 2026, Southwest flights have used assigned seats. Southwest also started charging for checked bags on many fares. Bags are no longer free for everyone, although Southwest credit card holders and travelers on higher fare types still get a free first checked bag.

Fares now come in tiers called Basic, Choice, Choice Preferred, and Choice Extra. Basic is the cheapest and most restrictive. Higher tiers add benefits such as better seat selection, more points earned, and more flexibility. When you book with points, check which fare type you’re getting, because the cheapest award may be a Basic fare with fewer perks.

Southwest has also announced further changes to Rapid Rewards, including new elite status tiers named Silver, Gold, and Platinum. Program rules are still shifting, so check the latest details on Southwest’s website before planning around a specific benefit.

How Much Are Southwest Points Worth?

Southwest ties the points price of a flight closely to its cash price. When a fare is cheap in dollars, it’s also cheap in points. That makes Southwest points fairly predictable, but it also limits how much value you can squeeze out of them.

The Points Guy has found that Rapid Rewards points are generally worth between 1.1 and 1.7 cents each when redeemed for airfare, depending on the flight.

You can check your own value with a simple calculation. Divide the cash price of the flight by the number of points it costs. For example, if a one-way flight costs $250 or 18,000 points, each point is worth about 1.39 cents ($250 ÷ 18,000). Because Chase transfers at 1:1, that’s also what each of your Chase points would be worth on this booking.

Is Transferring Chase Points to Southwest a Good Deal?

It depends on what else you could do with your Chase points. Many points experts value Chase Ultimate Rewards points at around 2 cents each when they’re used with strong transfer partners. In September 2026, The Points Guy put their value at about 2.05 cents. By that measure, turning Chase points into Southwest points worth roughly 1.3 cents means giving up some value.

That comparison only matters if you would actually use the other options. If Southwest flies the route you need at a good time, and the alternative is paying cash, transferring can still save you real money. A family flying between two cities that Southwest serves nonstop may get more practical use from Southwest points than from a premium airline award they would never book.

A good rule is to compare three numbers before transferring. The first is the flight’s cash price. The second is what the same points would get you through Chase Travel or another transfer partner. The third is the Southwest points price. If Southwest gives the best value per point for the trip you actually want to take, the transfer makes sense.

Watch for Transfer Bonuses

Chase occasionally offers a bonus on transfers to Southwest, which improves the math. These promotions are rare. Chase ran a 25% bonus from October 23 to November 6, 2025, and a 30% bonus from May 15 to June 5, 2026. During the 30% offer, 1,000 Chase points became 1,300 Southwest points. Bonus points can take up to seven days to show up after the transfer.

You can’t plan around a bonus, since they appear without warning and only last a few weeks. If you have a Southwest trip coming up and a bonus is running, it’s worth transferring the points you need. Avoid moving large balances speculatively, because once points are in Southwest they can’t be moved back.

The Companion Pass Catch

The Southwest Companion Pass lets a chosen person fly with you for only taxes and fees each time you buy or book a flight. It has long been one of the most valuable perks in the travel world.

To earn it, you need to collect a set number of qualifying points in a calendar year, which is 135,000 under the 2026 rules. Points transferred from Chase don’t count toward that total. Points earned from Southwest’s own co-branded credit cards, issued by Chase, do count, as do points from flying.

If the Companion Pass is your goal, a Southwest co-branded card and its welcome bonus will help far more than transferring Ultimate Rewards points. Southwest has announced changes to how cardholders earn toward the pass, so confirm the current requirements before you commit to a plan.

Tips Before You Transfer

A few habits can help you avoid wasted points:

• Find the flight and check the exact points price before you transfer.
• Transfer only the number of points you need for that booking.
• Compare the Southwest points price with the cash fare and with Chase Travel.
• Check the fare type so you know which perks and restrictions come with your ticket.

Southwest still allows you to cancel or change most award bookings without a change fee, and the points go back to your Rapid Rewards account. That makes it easier to rebook when a fare drops, so keep checking prices after you book. If the points price falls, you can rebook at the lower price and keep the difference. The exception is Basic fares, which come with stricter rules, so read the fare details before booking the cheapest option.

Transferring Chase Sapphire points to Southwest takes only a few minutes and costs nothing. The decision that matters is whether Southwest is the best use of those points for your trip. Check the cents-per-point value, compare it with your other options, and transfer only when you’re ready to book.