JPMorgan Chase has renewed a partnership to offer co-branded credit cards with Southwest Airlines.
The multi-year extension continues a nearly two-decade-old relationship between the two companies, according to a Chase press release Thursday. Chase Card Services will continue issuing three different credit cards for Southwest's Rapid Rewards members. Financial terms of the deal were not disclosed.
The contract's renewal comes at a time when credit card issuers are competing hard over retail-branded cards, which have a relatively high percentage of customers who roll over debt each month. In one example of the competitive environment, Costco recently ended a 16-year partnership with American Express in favor of a more favorable deal with Citigroup.
Chase also issues cards for United Airlines and British Airways.