American Express cardholders are seeing a fresh targeted deal worth up to $60 back on Southwest Airlines purchases — and according to One Mile at a Time, it's the first Southwest-specific Amex Offer anyone can remember. That alone makes it worth a look if you fly the airline with any regularity.

The mechanics are simple: spend $300 or more with Southwest and get a $60 statement credit. That's a 20% return, which is generous by Amex Offers standards. You'll need to enroll through your Amex account first, then make qualifying purchases by December 31, 2026 — though your actual travel dates can fall after that deadline.

Some versions of the deal reportedly pay out 6,000 bonus Membership Rewards points instead of the credit. If you get that variant, it's arguably the better catch: valuing Amex points at 1.7 cents each puts the points version at roughly $102. Either way, the spend threshold is flexible — the $300 can rack up across multiple transactions, not just a single booking.

What counts? Anything charged in USD directly to Southwest for flights originating in the US, booked via the airline's website or app. Helpful extras like seat upgrades, checked bag fees and onboard purchases all qualify too. What doesn't: standalone hotels, car rentals, cruises, gift cards, merchandise, travel insurance and buying Rapid Rewards points outright.

There's a clever angle here beyond the discount itself. Southwest lets you change most fares without fees (basic fares excepted), so if plans shift, your money converts to a flight credit sitting in your account rather than vanishing. Just watch the credit's expiration terms and double-check that your fare type qualifies for free changes.

To squeeze out maximum value, aim to trigger the offer on a card that earns bonus points on airfare — the Amex Platinum is the ideal candidate — so you collect the credit plus a healthy points haul on the same purchase. One catch with targeted offers: not everyone sees them. Check the Amex Offers section of your app or online account before you book anything with Southwest, and enroll before spending, since purchases made before activation won't count.

For anyone with a Southwest trip on the horizon — or a big fare to book before the end of 2026 — this is an easy 20% back on spending you'd likely make anyway.