Chase and Southwest Airlines have refreshed personal and business Rapid Rewards cards, raising annual fees while adding bag, seating and boarding perks. These changes are tied to Southwest's move to assigned seating and paid bags and are accompanied by a limited-time 100,000-point sign-up bonus for personal Rapid Rewards cards.

Going forward, even more changes are on the horizon. On Thursday, Southwest shared a revamp to its Rapid Rewards Credit Cards. Those adjustments involve new perks that are effective immediately, but come with a cost. Each of the five credit cards will have a spike in annual fees .

For a limited time, now through Sep. 17, new Southwest Rapid Rewards Priority, Premier or Plus consumer credit cardmembers can earn 100,000 bonus points after spending $4,000 in the first five months from account opening. This is double the previous welcome bonus of 50,000 points, and it marks Southwest's best points offer this year.