In fact, you will not have access to Swift Travel at all (other than the Writ of Special Passage: 1 Hour from your Gift Pack) without going VIP. Although you can potentially earn lotro points through deeds on every character you create, you are highly restricted to what you are capable of doing.
Are you a low level wandering around trying to figure out the lotro store? Or are you a lifetimer who wants to know what to do with those 30,000 lotro points you've accumulated over 5 years? I'm here to boil down what lotro has in store for you.