Southwest plane taking flight
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Chase and Southwest Airlines are expanding their offerings for business travelers with the launch of their latest co-branded credit card: the Southwest Rapid Rewards® Performance Business Credit Card.

The card joins the Southwest Rapid Rewards® Premier Business Credit Card in Southwest’s portfolio of co-branded business credit cards with Chase.

“Small business owners are vitally important to the U.S. economy and Chase,” Leslie Gillin, co-branded cards president at Chase, said in the launch announcement. “We are excited to provide business owners with a credit card that rewards the hard work they do on a daily basis, while at the same time offering enhanced travel benefits from an airline known for its exemplary customer service.

Here’s an overview of everything you can earn with the Southwest Rapid Rewards Performance Business Card so you can decide whether it’s right for your business.

The details

The Performance Business Card offers a more expansive rewards structure than the Premier Business Card, not only rewarding travel purchases but also everyday expenses that many business owners incur regularly. For it’s $199 annual fee, cardholders will earn:

  • 3 points per dollar spent on Southwest Airlines flights and participating hotel/car rental partners
  • 2 points per dollar spent on social media and search engine advertising
  • 2 points per dollar spent on internet, cable and phone services
  • 1 point per dollar spent on all other purchases

In addition to earning rewards on spending, cardholders receive four upgraded boardings per year (when available), inflight Wi-Fi credits and up to $100 in Global Entry or TSA PreCheck fee credits.

And the card’s sign-up bonus is among the best offered from any of Southwest’s co-branded cards. After spending $5,000 on purchases within the first three months, new cardholders will receive 80,000 bonus points.

That’s nearly 70 percent of the points required to earn the Companion Pass, one of the airline’s most coveted perks. The Companion Pass allows travelers to bring a designated second passenger along on almost any Southwest flight for free (after paying taxes and fees). Learn more about earning and using the benefit with Bankrate’s Guide to the Southwest Companion Pass.

Cardholders also earn 9,000 anniversary points upon each cardmember anniversary, the highest value of any Southwest credit card. Points are redeemable through Southwest Rapid Rewards for any available flight at any time, with no blackout dates, among other redemption options.  

The card charges no foreign transaction fees and offers a variable APR from 18.24 percent to 25.24 percent, based on creditworthiness. Business owners can request employee cards at no additional cost.

Who is this card for?

If your business travel takes you to destinations serviced by Southwest, you’re looking for a more premium option than what Southwest has offered in the past and your business spending aligns with the bonus categories, you may find great value in the Performance Business Card.

“For business owners who can fly Southwest frequently, this card offers amazing value, particularly if they take advantage of the Companion Pass,” says Ted Rossman, industry analyst at Bankrate. “The bonus categories are business and travel-friendly.”

Since the Performance Business Card offers more lucrative rewards for many travelers than Southwest’s consumer card offerings, Rossman also recommends the card for Southwest loyalists with a sole proprietorship or side hustle who may not traditionally think they could qualify for a business credit card.

If you’re not a frequent flyer on Southwest routes, though, Rossman recommends a more general business credit card, like those found in the Chase Ink or Capital One Spark card suites, which each offer a few different cash back and travel options.

Bottom line

The Southwest Rapid Rewards Performance Business Card could be a value add for business owners across a range of industries and with a variety of business needs.

If your business travel takes you along Southwest routes frequently, you invest a lot of cash in advertising and services or you’ve had your eye on Southwest’s Companion Pass, it’s worth considering making this addition to your wallet.

For more help choosing a credit card for your small business, see Bankrate’s picks for the Best Business Credit Cards of 2019.

 

 

The information about the Southwest Rapid Rewards Performance Business Credit Card and the Southwest Rapid Rewards Premier Business Credit Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.