Our Take
4.8
NerdWallet rating
The bottom line:
Somewhere between a regular travel product and a premium one, this card offers benefits that can easily offset the cost of ownership.
Southwest® Rapid Rewards® Performance Business Credit Card
Annual fee
$199
Regular APR
20.99%-27.99% Variable APR
Intro APR
N/A
Apply now
on Chase's website
More details from Chase
- Earn 80,000 points after you spend $5,000 on purchases in the first 3 months from account opening.
- 9,000 bonus points after your Cardmember anniversary.
- Earn 4X pts on Southwest® purchases.
- Earn 3X points on Rapid Rewards® hotel and car rental partners.
- Earn 2X points on rideshare.
- Earn 2X points on social media and search engine advertising, internet, cable, and phone services and 1X points on all other purchases.
- 4 Upgraded Boardings per year when available.
- Member FDIC
Pros & Cons
Pros
- High rewards rate
- Anniversary perk
- No reward caps
Cons
- High annual fee
- Rewards have limited flexibility
Compare to Other Cards
at Chase | at Chase | at Chase |
Annual fee $199 | Annual fee $149 | Annual fee $69 |
Regular APR 20.99%-27.99% Variable APR | Regular APR 20.99%-27.99% Variable APR | Regular APR 20.99%-27.99% Variable APR |
Intro APR N/A | Intro APR N/A | Intro APR N/A |
Recommended credit score 690-850good - excellent | Recommended credit score 690-850good - excellent | Recommended credit score 690-850good - excellent |
Full Review
For business owners who frequently fly Southwest, the
Southwest® Rapid Rewards® Performance Business Credit Card
is a valuable travel buddy indeed.With an annual fee of
$199
, it's the most expensive Southwest card to carry, but also the most lucrative in terms of rewards-earning ability. Beyond that, you'll also get useful perks that can help defray that annual fee, including annual anniversary points, a path to airline status, upgraded boardings, a Wi-Fi credit and a statement credit for Global Entry or TSA Precheck programs.It's not the complete luxury experience that some premium credit cards offer, but the annual fee isn't quite as steep as you'll find on those cards, either.
Southwest® Rapid Rewards® Performance Business Credit Card: Basics
Card type: Small business.
Annual fee:
$199
.Sign-up bonus:
Earn 80,000 points after you spend $5,000 on purchases in the first 3 months from account opening.
Rewards:
- Earn 4 points per $1 spent on Southwest® purchases.
- Earn 3 points per $1 spent on Rapid Rewards® hotel and car rental partners.
- Earn 2 points per $1 spent on local transit and commuting, including rideshare.
- Earn 2 points per $1 spent on social media and search engine advertising, internet, cable, and phone services.
- Earn 1 point per $1 spent on all other purchases.
This rewards structure is unique among Southwest's portfolio of credit cards in that it's richer and more varied. Other co-branded Southwest cards — including consumer and business products — only earn up to 3 points per $1 spent on eligible Southwest purchases, plus 1 point per $1 on other purchases.
NerdWallet values Southwest points at
1.5 cents
each. This is a baseline value, drawn from real-world data on hundreds of economy routes, not a maximized value. In other words, you should aim for award redemptions that offer 1.5 cents
cents or more in value from your Southwest points.APR:
The ongoing APR is 20.99%-27.99% Variable APR
.Foreign transaction fee: None.
Other perks:
- 9,000 bonus points each account anniversary year.
- 1,500 tier qualifying points for each $10,000 spent on qualifying purchases (no annual limit).
- Reimbursement of up to four upgraded boardings upon each anniversary year (when available).
- In-flight Wi-Fi credits.
- Statement credit of up to $100 every four years towards Global Entry, TSA PreCheck® or NEXUS application fee.
- Visa Signature benefits like an auto rental collision damage waiver (which offers primary coverage), baggage delay insurance, lost luggage insurance and travel accident insurance, to name a few.
- Employee cards earn rewards.
Why you might want the Southwest® Rapid Rewards® Performance Business Credit Card
A jet-setting sign-up bonus
The
Southwest® Rapid Rewards® Performance Business Credit Card
has a sky-high introductory offer: Earn 80,000 points after you spend $5,000 on purchases in the first 3 months from account opening.
That’s enough to catapult you to within striking distance of the 125,000 points required for a coveted Southwest Companion Pass. This pass lets you choose a companion to fly with you for free (excluding taxes and fees) when you buy a flight or redeem points for a free flight. Once earned, the Companion Pass is valid for the remainder of the year and the following calendar year, too.Plenty of opportunities to earn points, plus a path to status
Aside from a rewards structure that's more generous than any other Southwest Airlines card, this card gives you 9,000 bonus points after every cardmember anniversary. You can also earn 1,500 tier qualifying points toward A-List and A-List Preferred status for every $10,000 spent in qualifying Southwest purchases. Either status can offer benefits such as more bonus points, priority check-in and free same-day standby, to name a few.
Ideal features for international travel, plus perks
The
Southwest® Rapid Rewards® Performance Business Credit Card
is well-equipped to travel anywhere as part of the Visa network, which is widely accepted by merchants abroad. Plus, since it doesn't charge foreign transaction fees, you’ll also save money on purchases abroad. And thanks to its Visa Signature benefits, the card is packed with many travel protections, including lost luggage reimbursement, baggage delay insurance and travel accident insurance, among others.The card's Global Entry or TSA Precheck perk can also help you speed through airport security. Every four years, you’re reimbursed up to $100 when you use the card to pay the application fee for one of these programs. Your four upgraded boardings, when available, will also allow you to grab a seat early. You’re reimbursed when you use the card to buy them, a value of $30 to $50 per flight. And the card’s daily $8 Wi-Fi credit will help you plug into the office. (You'll get 365 credits, one for each day of the year.)
How it compares to the Southwest® Rapid Rewards® Premier Business Credit Card
Southwest and Chase offer two different small-business credit cards. The
Southwest® Rapid Rewards® Premier Business Credit Card
has the lower annual fee and is better suited for less frequent travelers. Frequent flyers can get more value in the form of higher rewards and reimbursements with the Southwest® Rapid Rewards® Premier Business Credit Card
.Here's a side-by-side comparison of the two cards:
Annual fee | $99 | $199 |
Rewards | 3 points per $1 spent on qualifying Southwest Airlines purchases, 2 points per $1 spent on transit including rideshares and 1 point per $1 spent on all other purchases. | 4 points per $1 spent on qualifying Southwest Airlines purchases; 2 points per $1 spent on social media and search engine advertising, internet, cable and phone services; and 1 point per $1 spent on all other purchases. |
Sign-up bonus | Earn 60,000 points after you spend $3,000 on purchases in the first 3 months your account is open. | Earn 80,000 points after you spend $5,000 on purchases in the first 3 months from account opening. |
Anniversary points | 6,000 bonus points. | 9,000 bonus points. |
Foreign transaction fees | None. | None. |
APR | The ongoing APR is 20.99%-27.99% Variable APR . | The ongoing APR is 20.99%-27.99% Variable APR . |
Tier qualifying points | Up to 1,500 tier qualifying points for each $10,000 spent on qualifying purchases (no annual limit). | Up to 1,500 tier qualifying points for each $10,000 spent on qualifying purchases (no annual limit). |
Credits/reimbursements | N/A | Reimbursement of up to four upgraded boardings upon each anniversary year (when available), in-flight Wi-Fi credits and a statement credit for Global Entry or TSA Precheck programs. |
Why you might want a different card
A lower annual fee
If the
$199
annual fee doesn’t fly with you, the Southwest® Rapid Rewards® Premier Business Credit Card
is another option, with a lower annual fee of $99
. The perks are fewer, but it can still offer value on Southwest purchases.More redemption flexibility
The
Ink Business Preferred® Credit Card
lets you redeem points for cash, gift cards, travel and qualifying products or services. Points are more valuable when redeemed through the Chase Ultimate Rewards® portal, and through that portal you can move your points to several other travel loyalty programs at a 1:1 ratio, including to Southwest. The card earns 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, cable, phone services and advertising purchases made with social media sites and search engines each account anniversary year. All other purchases earn 1 point per $1 spent. It has a $95
annual fee.Is the Southwest® Rapid Rewards® Performance Business Credit Card right for you?
Southwest loyalists with business expenses that match this card's rewards categories can get a lot out of this card, especially considering the perks that come with it. But if your business spending doesn't align with its rewards categories, you can likely get more value from a general travel credit card with broader rewards categories or flat-rate rewards.
Apply now
on Chase's website
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NerdWallet Rating
5.0
