Southwest is overhauling its frequent flyer program. Here's what's changing

Southwest Airlines is scrapping its two-tier loyalty program starting next year and instead rolling out silver, gold and platinum levels that are similar to what other carriers offer, as the once-quirky airline seeks to increase revenue and reward its biggest spenders. Southwest executives have been overhauling the airline, getting rid of longtime customer perks like two free checked bags and open seating . It's now charging for some of those options, like rivals have been doing for years. Along with the shift from two to three loyalty levels, the carrier is also changing the names of its tiers. Under the old version, travelers could be classified into A-List or A-List Preferred, which was the higher level.