On March 1, 2011, Rapid Rewards will introduce an all-new program with exciting enhancements, including:

In the All-New Rapid Rewards, you will earn and use points instead of credits. That means beginning March 1, 2011, you will no longer earn “credits” on qualifying flights, Partner transactions, or the Rapid Rewards Credit Card. The program will transition automatically on March 1, 2011. You don’t have to re-enroll—and you’ll keep your current Rapid Rewards number.

Don’t worry—your existing credits are safe and secure. You’ll simply convert enough points earned in the new program into credits from the old program (1,200 points = 1 credit) to reach 16 credits (enough for a Standard Award).

If you already have a Standard Award or Freedom Award, hold on to it. You can still redeem it for your free** flight. Standard Award and Freedom Award rules, regulations, and expiration dates remain unchanged.

In addition to the benefits above, you’ll also enjoy new ways to earn and redeem rewards. Free flights are just the beginning. Southwest Airlines Rapid Rewards Credit Cardmembers can now redeem points for International flights, cruises, hotel stays, and more. For more program information, including an interactive point simulator and video gallery, visit newrapidrewards.com.

Members who have active A-List or Companion Pass status from the old program on March 1, 2011, will have their status carried over into the new program.

The changeover from credits to points in the new program will affect Southwest Airlines Rapid Rewards Credit Cardmembers. Chase will send a separate communication detailing the specific changes. But don’t worry—you will continue to earn Rapid Rewards Points at the same rate you do today, and, after March 1st, you’ll enjoy expanded Cardmember benefits.