Southwest^® Rapid Rewards^® Performance Business Credit Card Review [2024]: Don’t Bother if You Don’t Fly Southwest

Card basics

FinanceBuzz star rating	4.7 FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.
FinanceBuzz valuation1	Year 1: $1,498 Year 2: $410
Card issuer	Chase
Annual fee	$199
Intro bonus	Earn 80,000 points after you spend $5,000 on purchases in the first 3 months from account opening
Rewards rate	4X points on Southwest purchases; 3X points on Rapid Rewards hotel and car rental partners; 2X on rideshare, social media and search engine advertising, internet, cable, and phone services; plus 1X points on all other purchases
Recommended credit score	Excellent, Good
Foreign transaction fee	None

The Southwest^® Rapid Rewards^® Performance Business Credit Card is a valuable credit card for business owners who prefer Southwest Airlines and have a large marketing budget. Not surprisingly, the card rewards the most for Southwest Airlines purchases, but you also earn healthy rewards for social media and search engine advertising.

The card has an annual fee of $199, which can be a downside for some people, but if you frequently fly Southwest, you should easily make up for it. In the first year alone, you can earn 80,000 points after you spend $5,000 on purchases in the first 3 months from account opening. I know this shouldn’t be a big deal for most business owners.

Who should get the Southwest Rapid Rewards Performance Business Credit Card?

For the most part, those who will get the most from this travel business credit card are those who already use Southwest Airlines. Bonus points if you advertise online and regularly pay for telecommunications expenses because you can earn even more rewards.

On the other hand, if you don’t fly Southwest often, I encourage you to look at the many other options for the best business credit card for travel. The rewards on this card reward Southwest travelers the most, so if you aren’t loyal to the company, it doesn’t make sense to pay the card’s annual fee when you could earn rewards you could use with other cards.

Top benefits and perks

• Anniversary points: Every year on your cardmember anniversary, you receive 9,000 points. This anniversary bonus can help you continue to earn points for free airfare, as well as work toward Southwest’s A-List Status and earning a coveted Southwest Companion Pass.
• Boost of 10,000 Companion Pass points: Receive 10,000 Companion Pass points on each card anniversary to help you get closer to the 135,000 required points to bring a companion with you for the remainder of the year you qualify and the following year for free (excluding taxes and fees).
• Upgraded boardings: You can receive up to four Upgraded Boardings per year when they are available. This provides access to the best A1 - A15 boarding position available.
• Global Entry/TSA PreCheck: Every four years, you can receive a statement credit for up to $120 as an application fee reimbursement when you pay for Global Entry or TSA PreCheck® or NEXUS, using your Southwest Performance Business Credit Card.
• In-flight Wi-Fi credits: When you get this card, you receive up to 365 $8 credits each year. When you pay for in-flight Wi-Fi using your card, you’ll receive a statement credit offsetting the cost.
• Visa Signature card benefits: As a Visa Signature card, this business credit card also comes with a variety of travel perks like baggage delay insurance, auto rental collision damage waiver, lost luggage insurance, travel accident insurance, and emergency assistance services, as referrals for medical or legal assistance.
• Purchase and warranty protection: Get coverage on new purchases from damage or theft for 120 days or an extended warranty on products with up to a three-year manufacturer’s warranty on products bought with your Southwest Rapid Rewards card.
• Faster track to A-list status: You need 35,000 tier qualifying points to get A-list status which allows priority boarding, 25% bonus Rapid Rewards points, and same-day standby options. You now get 1,500 points for every $5,000 spent.

Earning & redeeming Rapid Rewards points

Best ways to earn

I think the earnings rates on the Southwest Rapid Rewards® Performance Business credit card are straightforward, and clearly indicate that you get the most out of this card if you fly Southwest or stay at Rapid Rewards hotels.

But if you have a large marketing budget, you can earn 2X points per dollar spent on some of your spend, which isn’t stellar compared to some cards, but if you’re a Southwest loyalist, it makes sense. I would focus my efforts on Southwest purchases and marketing expenses, leaving all other expenses for more valuable cash back business credit cards.

Maximizing your redemptions

Just like you get the most out of the Southwest Rapid Rewards Performance Business credit card when you make Southwest purchases, the same is true when you redeem points.

What I like to do when redeeming airline-specific points is view the airline tickets as cash and then points value. Then to determine if it makes sense to redeem points, divide the total cost by the number of points required.

I aim to get at least 1.5 cents per point when trying to maximize the value of my points. For example when I was looking yesterday, a flight from Chicago to Dallas mid-week cost $169 for Business Select seats or 11,881 points. That comes out to 1.4 cents per point, which is a pretty good value. If the points value were any lower, though, I would likely pay cash and save my points for a more valuable flight.

FAQs

Other cards to consider

Carefully consider your needs as you decide what the best airline credit card or business card is for your business. I like the Southwest Rapid Rewards Performance Business Credit Card and its chance to get you closer to the Southwest Companion Pass, but only if you are a frequent Southwest traveler. However, it’s not your only option.

Ink Business Preferred^® Credit Card

The Ink Business Preferred^® Credit Card is also from Chase but is not co-branded with Southwest. This card has a $95 annual fee and several benefits. You can also earn 3X points on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year; and 1X points per $1 on all other purchases. Redeeming your points for travel through the Chase Travel portal gives you a 25% premium, making your travel rewards more valuable. You can also earn 90,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening.

I would choose this card if you aren’t a frequent Southwest traveler for its higher earning potential and flexibility with redemptions.

Learn more in our Ink Business Preferred review.

Capital One Spark Miles for Business

You can also consider the Capital One Spark Miles for Business. You earn 5X miles on hotels, vacation rentals and rental cars and booked through Capital One Travel, and 2X miles on every purchase, every day, with no tiers. You can also earn 50,000 miles after spending $4,500 in the first 3 months from account opening as a welcome bonus, as well as a statement credit for Global Entry or TSA PreCheck.

I think this card is a good option for anyone who isn’t loyal to Southwest and doesn’t like worrying about categories when maximizing credit card earnings and rewards. Earning a flat rate on most purchases, and the ability to transfer points to 15+ travel partners offers much more flexibility than the Southwest card.

Learn more in our Capital One Spark Miles for Business review.

Bottom line

If you’re a small business owner who frequently flies Southwest, this card is a no-brainer. Yes, there is an annual fee, but most cardholders more than make up for it after booking a flight or two. If you aren’t a Southwest loyalist, though, consider other options that may provide more flexible rewards, and some may not even charge an annual fee.

Special Perks for Business Owners

Southwest^® Rapid Rewards^® Performance Business Credit Card

4.7

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

Southwest^® Rapid Rewards^® Performance Business Credit Card

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Current Offer

Earn 80,000 points after you spend $5,000 on purchases in the first 3 months from account opening

Annual Fee

$199

Rewards Rate

4X points on Southwest purchases; 3X points on Rapid Rewards hotel and car rental partners; 2X on rideshare, social media and search engine advertising, internet, cable, and phone services; plus 1X points on all other purchases

Benefits and Drawbacks

Benefits

• Pays a healthy anniversary bonus annually
• You can earn rewards on employee spending
• Up to four upgraded boardings annually (when available)

Drawbacks

• Mostly benefits Southwest flyers
• $199 annual fee

Card Details

• 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