Southwest® Rapid Rewards® Performance Business Credit Card review: The perfect business card for Southwest enthusiasts
Along with the high rewards rate on flights, the 2X points on business expenses shows great duality with this card.
Why you can trust Bankrate
At Bankrate, we have a mission to demystify the credit cards industry — regardless or where you are in your journey — and make it one you can navigate with confidence. Our team is full of a diverse range of experts from credit card pros to data analysts and, most importantly, people who shop for credit cards just like you. With this combination of expertise and perspectives, we keep close tabs on the credit card industry year-round to:
- Meet you wherever you are in your credit card journey to guide your information search and help you understand your options.
- Consistently provide up-to-date, reliable market information so you\'re well-equipped to make confident decisions.
- Reduce industry jargon so you get the clearest form of information possible, so you can make the right decision for you.
At Bankrate, we focus on the points consumers care about most: rewards, welcome offers and bonuses, APR, and overall customer experience. Any issuers discussed on our site are vetted based on the value they provide to consumers at each of these levels. At each step of the way, we fact-check ourselves to prioritize accuracy so we can continue to be here for your every next.
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
How We Make Money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.
This content is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate.com. HomeInsurance.com LLC services are only available in states were it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Southwest® Rapid Rewards® Performance Business Credit Card Overview
If you’re a frequent Southwest flyer who owns your own business or flies for business purposes, the Southwest® Rapid Rewards® Performance Business Credit Card is hard to beat. Not only can you score a big welcome bonus, but you can get frequent flyer perks like four upgraded boardings per year, credit for Global Entry or TSA PreCheck membership, free employee cards and no foreign transaction fees. You’ll also get 9,000 points on your cardmember anniversary every year, which can make renewing your card a pretty sweet deal.
What are the pros and cons?
- High $199 annual fee
- Limited redemption options
- Not as good for general travel if you’re not a loyal Southwest flyer
- Doesn’t offer the strongest travel protections and benefits
- No airport lounge access perks
A deeper look into the current card offer
- Rewards rate: Earn 4X points on Southwest purchases, 3X points on participating hotel and rental car partners, 2X points on rideshares, 2X points on social media and search engine advertising as well as internet, cable and phone services; 1X points on all other purchases
- Welcome offer: Earn 80,000 points after you spend $5,000 on purchases in the first three months.
- Annual fee: $199
- Purchase intro APR: N/A
- Balance transfer intro APR: N/A
- Regular APR: 16.24 percent to 23.24 percent variable APR
Current sign-up bonus
The sign-up bonus alone is a compelling reason to apply, and that’s especially true if you have a lot of business expenses you can charge to your credit card. Once you sign up, you get the chance to earn 80,000 points after you spend $5,000 on purchases in the first three months.
While 80,000 points could easily be enough for a round-trip domestic flight or a flight to Mexico or the Caribbean, this offer is also extremely useful if you’re trying to pursue the Southwest Companion Pass. The pass allows you to choose one person to fly with you for only the cost of taxes and fees for the rest of the year that you earn it, plus the entire next year.
Since you need to complete 100 qualifying one-way flights or earn 125,000 Southwest qualifying points within a calendar year to earn the Companion Pass benefit, this card’s bonus offer can get you most of the way there.
This business credit card offers a lucrative bonus offer that makes it worth signing up for, but it is definitely geared to consumers who spend a lot of money on flights.
How you earn
As a cardholder, you’ll earn 4 points per dollar on Southwest purchases and 3 points on those made with participating hotel and rental car partners, plus 2 points per dollar on rideshares. If you spend a lot on other purchases for your business, you’ll be happy to know you’ll earn 2 points per dollar on social media and search engine advertising as well as internet, cable and phone services along with 1 point per dollar on all other purchases.
Also, keep in mind that there are other ways to earn Southwest points, including the Southwest dining rewards program. Southwest even has its own shopping portal that lets you earn bonus points in the program when you click through the portal and make purchases with participating retailers online.
How to redeem
You’ll get the most value out of your Southwest points when you redeem them for flights. Southwest has a fare-based rewards program, meaning that flights on sale or for lower prices cost less while higher-cost itineraries cost more. Either way, you can use Southwest Rapid Rewards points to book flights within the continental United States, to and from Hawaii and to Mexico and the Caribbean.
Southwest lets you book one-way flights with rewards if you prefer, and they promise no blackout dates. If there’s a seat on the plane, you can book it with points.
And while Southwest may be considered a budget airline, it offers a few great benefits for all travelers. All Southwest flights come with your first two checked bags free and no change fees. That means you won’t be charged an additional fee to change an upcoming flight itinerary—you just pay the difference in ticket cost.
The Southwest Rapid Rewards Performance Business card does come with a higher annual fee than some other airline credit cards, but you get plenty of valuable perks in return. These cardholder benefits can make paying the annual fee on this card a good deal for the first year and beyond.
Every year you renew your Southwest Rapid Rewards Performance Business card and pay the $199 annual fee, you’ll get 9,000 anniversary points added to your account. Since these points are worth approximately 1.5 cents each, the value of this bonus is $135.
In-flight Wi-Fi credits
You’ll also get up to 365 in-flight Wi-Fi credits per year, which can help you save considerable sums of money if you fly Southwest frequently and often pay for internet access. Normally, internet access on Southwest flights will set you back $8 per day, so this perk could be worth $160 per year if you use it 20 times. Obviously, it would be worth a lot more than that depending on how often you could take advantage.
Global Entry or TSA PreCheck credit
Like other popular travel credit cards, the Southwest Rapid Rewards Performance Business gives cardholders a statement credit good for Global Entry or TSA PreCheck membership. This credit is good for up to $100, and you can use it to renew a membership every four years.
Four upgraded boardings
You’ll also get four upgraded boardings per year every year you’re a cardmember. Since Southwest uses a unique boarding process with no assigned seats, getting on the plane early gives you a much better chance at getting the seat you want.
Earn tier-qualifying points
If you’re interested in earning A-List status with Southwest Airlines, then you’ll be happy to know this card lets you earn Tier Qualifying Points (TQPs) toward elite status with this airline—1,500 TQPs for every $10,000 you spend on purchases (no limit to TQPs earned this way).
How much are points worth?
Southwest Rapid Rewards points are worth approximately 1.5 cents each, according to The Points Guy’s latest valuation, which means a flight for $225 would set you back around 15,000 points. This is a slightly better redemption value than you’ll find with other airline programs like American AAdvantage and Delta SkyMiles. Just remember that, like with many airline mile redemptions, award taxes and fees are charged on top of the points or miles required, and your actual point value may vary based on factors like your destination and travel date.
Rates and fees
The Southwest Rapid Rewards Performance Business does charge a $199 annual fee, but other fees associated with this card are easy to avoid. There are no foreign transaction fees or returned check fees to be aware of. However, you should watch out for late payment fees and returned payment fees, both of which will set you back $39.
If you decide to transfer a balance to this card for any reason, you’ll also pay a 5 percent balance transfer fee (minimum $5).
How the Southwest Rapid Rewards Performance Business compares to other travel credit cards for business
If your goal is earning travel rewards with a business credit card, there are many good options to consider. Here’s how the Southwest Rapid Rewards Performance Business compares to similar airline credit cards and business credit cards.
Southwest Rapid Rewards Performance Business Credit Card vs. Southwest® Rapid Rewards® Premier Business Credit Card
If you don’t feel comfortable paying $199 per year for an airline credit card for your business but still want a co-branded Southwest credit card, then you may want to consider the Southwest® Rapid Rewards® Premier Business Credit Card. This card will cost you just $99 per year, yet you’ll earn a generous sign-up bonus as well as a similar rewards rate.
You won’t get elite perks like in-flight Wi-Fi credits or a credit for Global Entry or TSA PreCheck, and you’ll only get two complimentary EarlyBird Check-In® boarding upgrades each year instead of four upgraded boardings through Southwest. Still, the annual cost is cut in half with this card.
Southwest Rapid Rewards Performance Business Credit Card vs Ink Business Preferred® Credit Card
In addition to Southwest cards, you should also consider flexible business credit cards. Specifically, consider the Ink Business Preferred® Credit Card due to its sign-up bonus and the fact you can transfer points from this card to Southwest at a 1:1 ratio.
The Ink Business Preferred lets you earn points in the Chase Ultimate Rewards program, which also lets you redeem for cash back, gift cards, statement credits and merchandise. You can also redeem points for travel through the Chase portal and get 25 percent more value when you do. Plus, you can transfer points to not only Southwest but also to partners like Emirates, IHG Rewards, British Airways and more. Also, note that the Ink Business Preferred’s annual fee will only set you back $95 per year versus Southwest Rapid Performance’s $199 fee.
Best cards to pair with the Southwest Rapid Rewards Performance Business Credit Card
If you do decide to get the Southwest Rapid Rewards Performance Business, pairing it with a travel credit card from Chase is a no-brainer since Southwest is one of its transfer partners. Having a Chase business card that lets you transfer points will make it easier for you to earn the rewards you need for the flights you want or even “top up” your Southwest account when you’re short some miles for a rewards booking. Just keep in mind that you have to transfer points from Chase to Southwest in increments of 1,000 points.
The Ink Business Preferred would be helpful for shipping purchases, travel outside of Southwest and its hotel and rental car partners, but the Ink Business Unlimited® Credit Card could also be a good option for all other purchases thanks to its 1.5 percent flat-rate cash back on all of your other business expenses (which are technically earned as transferrable Ultimate Rewards points).
Bankrate’s Take—Is the Southwest Rapid Rewards Performance Business Credit Card worth it?
The Southwest Rapid Rewards Performance Business can easily be worth it if you often travel with Southwest and its partner hotels and rental car services and want access to some frequent flyer perks. With 4 points per dollar on Southwest purchases plus excellent rewards on a variety of other popular business expenses, this card can be a stellar choice if you want the best perks and rewards available for Southwest Airlines travel.