Southwest Rapid Rewards® Premier Business Credit Card

Robin Saks Frankel  in  Business Advertising Disclosure
 Image
Annual Fee:
$99.
Purchase Intro APR:
N/A
Regular APR:
16.99% to 23.99%, based on your creditworthiness. These APRs will vary with the market based on the Prime Rate.
Terms and Restrictions Apply | Rates and Fees

Commonly used for: Airline, Business, Excellent Credit, No Foreign Transaction Fees, Rewards, Sign-up Bonus, Travel.

This card offer is currently unavailable on Bankrate. To see more cards in this category, please visit our airline category page.

The information about the Ink Business CashSM credit card has been collected independently by Bankrate.com and has not been reviewed or provided by the card issuer.

Editor’s note: This offer is may no longer available. 

If you live in a city served by Southwest Airlines, the Southwest Rapid Rewards Premier Business Credit Card can help you rapidly earn rewards towards flights. This card is the big brother card to the Southwest Rapid Rewards Plus Business Credit Card with the same sign-up bonus and rewards structure but with some extras at a slightly higher ownership cost.

Review

If you want a Southwest Rapid Rewards business credit card, but you’re not sure whether to get the Premier or the Plus, Bankrate thinks you should go for Southwest Rapid Rewards Premier Business Credit Card. With a $99 fee per year, the Premier Business card costs $30 more than the Plus Business version, but makes up for it by giving you 1,500 Tier Qualifying Points for every $10,000 you spend per year, up to a 15,000-point maximum.

You still get the same sign-up bonus of 60,000 points that Plus cardholders get if you spend $3,000 on purchases within the first three months of opening an account, and you’ll even earn an additional 6,000 bonus points each year (compared to just 3,000 bonus points with the Plus). The sign-up bonus plus regular spending on this card could quickly add up to the 110,000 points required to earn Southwest Airlines’ much-heralded Companion Pass offer, one of the most generous airline perks we’ve ever seen.

You need at least 35,000 Tier Qualifying Points or 25 one-way flights per calendar year to qualify for Southwest’s A-List status, which comes with perks like priority boarding, a 25% points bonus on each flight, and no charge for same-day standby flights. The Plus version doesn’t offer an opportunity to earn Tier Qualifying Points through spending.

With the Southwest Rapid Rewards Premier Business Credit Card, you also can get employee cards for free, and any points earned from spending on those cards will accrue to your account. The Plus Business Card does not offer free employee cards.

The Premier doesn’t have foreign transaction fees, an important perk if you fly to any of the international destinations served by Southwest. However, if you only fly Southwest Airlines occasionally, you’re probably better off with a business credit card that pays flexible rewards in the categories you typically spend.

Who should get this card

Business owners who frequently fly Southwest and are aiming for A-List status or the Companion Pass with the airline.

Fees and APR

  • This card has a $99 annual fee.
  • There’s a variable APR on purchases and balance transfers of 18.24% – 25.24% based on creditworthiness.
  • Late payments won’t affect your APR but you will be subject to a penalty fee of up to $37 for each late payment.
  • Balance transfers will be subject to a 5% fee of the amount being transferred.

Extras, perks and using points

This card comes with Visa Signature benefits which include auto and travel protections and insurance and hotel discounts and benefits at participating properties. It also provides extended warranty protections on qualifying purchases.

To redeem your points, go to Southwest.com and log into your Rapid Rewards account. When searching for your itinerary choose the “Points” option instead of Dollars. Select the fare you want and then check out using points to pay. You have to have enough Rapid Rewards points to cover the amount required for the flight. You cannot pay with a combination of points and cash. All applicable taxes and fees must be paid for with either a credit card, debit card, or a Southwest gift card.

Rapid Rewards Credit Card members can also redeem their Rapid Rewards points for hotel stays, rental cars, gift cards, event tickets, merchandise, and other unique experiences. Our guide to Southwest Rapid Rewards goes into further detail about the program, including how to best utilize your points and how the benefits stack up against other frequent flyer offers.