Southwest® Rapid Rewards® Premier Business Credit Card review
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® Premier Business Credit Card Overview
The Southwest® Rapid Rewards® Premier Business Credit Card offers loyal business travelers who fly with Southwest Airlines a way to enjoy additional travel benefits. You can earn 3 points for every dollar you spend on purchases with the airline, 2 points per dollar on rideshares and Southwest’s Rapid Rewards® hotel and car rental partners along with 1 point per dollar spent on all other purchases. You can redeem your points for Southwest Airlines flights, which have no restrictions, change fees or blackout dates.
What are the pros and cons?
- A moderate $99 annual fee
- Rapid Rewards points will largely limit you to booking Southwest flights
- The only bonus category outside Southwest and its partners is for rideshares, which may limit your rewards potential
A deeper look into the current card offer
- Rewards rate: Earn 3X points on Southwest airlines purchases, 2X points on participating Rapid Rewards® hotel and rental car partners, 2X points on rideshares, and 1X points on all other purchases
- Welcome offer: 60,000 points after you spend $3,000 within your first three months
- Annual fee: $99
- Purchase intro APR: None
- Balance transfer intro APR: None
- Regular APR: 16.24 percent to 23.24 percent variable
Current sign-up bonus
When you open your account, you’re eligible to receive a 60,000-point bonus if you spend $3,000 during your first three months. This offer is not available to current cardmembers or former cardholders who received a welcome bonus within the last 24 months.
Southwest Rapid Rewards points can be earned and redeemed in a variety of ways—on more than strictly airfare.
The fastest way to earn points with the Southwest Rapid Rewards Premier Business Credit Card is to book flights through Southwest Airlines, which will net you 3X points. This rate is boosted thanks to the most recent update to Southwest cards, plus you’ll now also earn 2X points on rideshares. Like before, you’ll also earn 2X points by spending with the airline’s Rapid Rewards® hotel and car rental partners, plus 1X points on all other purchases.
What’s more, cardholders can depend on receiving 6,000 points every year on the anniversary of their account opening, regardless of how much they spend.
Redeeming your Rapid Rewards points for Southwest flights is easy, and the best way to take advantage of your new stash of points.
There are no restrictions or blackout dates when you redeem points for a seat, but the number of points you’ll need will depend on the airfare.
You may also redeem your points for international flights booked through a designated flight portal, hotel stays, rental cars and more.
How much are points worth?
Rapid Rewards points are currently valued at around 1.5 cents per point when redeemed for flights, according to The Points Guy’s latest valuation, making the 60,000-point sign-up bonus worth approximately $900, depending on how you redeem those points. However, like several airline loyalty programs, your points’ value may vary based on factors like your destination, travel date and more.
The Southwest Rapid Rewards Premier Business Credit Card includes many appealing perks and benefits that will appeal to business travelers who frequently fly Southwest.
Cardmember anniversary bonus
Perhaps the most compelling feature of this card is the 6,000 bonus points you’ll receive every cardmember anniversary with no spending requirement. Those points could translate to approximately $90 in value toward future flights (based on a 1.5-cent point value), which almost offsets the card’s annual fee entirely.
Travel and purchase protections
The Southwest Rapid Rewards Premier Business Credit Card includes valuable travel and purchase protections to give you peace of mind on all your trips.
You’ll get extended warranty protection and purchase protection that may cover you in the event of theft or damage of new items, plus a few other handy travel perks like auto rental collision damage waiver coverage, roadside dispatch and travel accident insurance.
If your bags are damaged or lost by the airline, you’re covered up to $3,000 per passenger with lost luggage reimbursement. Additionally, if your bags are delayed by six hours or more, your baggage delay insurance benefit provides up to $100 a day for three days to cover essential items such as toiletries and clothing.
Southwest travel benefits
Southwest’s latest update to the Premier Business card added several features to its benefit roster, which could lead to solid savings:
- 25 percent back on inflight purchases
- Two complimentary EarlyBird Check-In® boarding upgrades per year (worth up to $50)
- Unlimited 1,500 Tier Qualification Points (TQPs) for every $10,000 spent (at least 35,000 TQPs in a calendar year required for A-List elite status)
Rates and fees
The Southwest Rapid Rewards Premier Business Credit Card charges an annual fee of $99. Unlike some airline credit cards, the Southwest Rapid Rewards Premier Business Credit Card will not waive this fee for your first year.
You won’t pay any foreign transaction fees, however, and you can also add employee cards at no additional cost.
The variable APR with this card is 16.24 percent to 23.24 percent.
How the Southwest Premier Business Credit Card compares to other airline credit cards
For business travelers who frequently fly Southwest, the Southwest Rapid Rewards Premier Business Credit Card is an obvious choice. Its higher-caliber sibling, the Southwest® Rapid Rewards® Performance Business Credit Card, could be a wise choice if you spend enough to make up for its $199 annual fee. The Performance Business card has a leg up over the Premier Business thanks to its 2X rewards rate on telecom and select advertising services, plus its slightly richer benefit offerings.
If your budget leans closer to everyday business expenses, but you either can’t justify the Performance Business card’s annual fee or you don’t want your rewards to be tied to one airline, the Ink Business Preferred® Credit Card is one of the best business cards on the market. Since Southwest Airlines is one of Chase’s transfer partners, the Ink Business Preferred remains a good rewards engine for Southwest while keeping your flight options open.
Best cards to pair with the Southwest Rapid Rewards Premier Business Credit Card
Chases Ink Business Preferred Card would be a great counterpart to the Southwest Rapid Rewards Premier Business Credit Card. This card, which comes with a $95 annual fee, earns 3X points for every dollar spent on travel, internet, cable and phone services, shipping and advertising made with social media and search engines and cable and phone services, up to $150,000 in combined purchases each account anniversary year (after that, it’s 1X points).
The Ink Business Unlimited® Credit Card could also be a valuable partner card thanks to its boosted 1.5 percent cash back on all purchases. Although its rewards are touted as cash back, you’re actually earning Chase Ultimate Rewards points, which could also be transferred to your Southwest loyalty account in case you’re ever shy of a certain number of points—or if you simply want to widen your rewards spending to include business expenses that fall outside your Southwest card’s categories.
Bankrate’s Take—Is the Southwest Rapid Rewards Premier Business Credit Card worth it?
The Southwest Rapid Rewards Premier Business Credit Card can easily help you earn Rapid Rewards points that can be redeemed for Southwest flights.
But, if you need more flexibility with your points or are looking for a wider array of benefits, you might want to consider a general-purpose business travel card. There are many—particularly Chase credit cards, which earn Ultimate Rewards points that transfer to Southwest at a 1:1 ratio—that may help you earn points faster with a comparable annual fee.