Is there a fee for the Southwest credit card?

Thanks to Valerie Brooks (nee Binckes) for asking a question on today's post about the Southwest Companion Pass.

Yes, there is a $95 fee for each of the credit cards. And for those who swear they will never get a credit card that has an annual fee, let's do some math here.

Two cards @$95 fee = $190

100,000 Southwest points valued at 1.43 cents each = $1430 of Southwest fare.

$1430 - $190 = $1240

And if you achieve companion pass status, then the value of those points is doubled each time your companion flies with you. Or to put it in math terms, it's potentially worth:

$1430 X 2 = $2860 - $190 = $2670