At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for . The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
4.7
Bottom line
Rewards rate
Annual fee
Intro offer
Regular APR
Recommended Credit Score
Solid welcome offer and an enticing 6,000-point bonus on your account anniversary each year
No foreign transaction fees
Earn points faster by adding free employee cards and using the Tier Qualifying Points offer to qualify for elite status faster
Decent travel and purchase protections
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
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 (Note: current or past cardholders who received a welcome bonus in the past 24 months are not eligible for this offer.) Rapid Rewards points are currently valued at around 1.5 cents per point when redeemed for flights, according to Bankrate’s latest miles valuation, making the 60,000-point sign-up bonus worth approximately $900, depending on how you redeem those points.
The Southwest Rapid Rewards Premier Business Card offers a tiered-rewards rate on Southwest-related spending, travel expenses and other general purchases. 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.
In addition, cardholders can depend on receiving 6,000 points every year on the anniversary of their account opening, regardless of how much they spend.
You can also earn points by using the Southwest Rapid Rewards shopping portal guide when making online purchases and by eating at restaurants that participate in the airline’s Dining Rewards program.
Redeeming your Rapid Rewards points for Southwest flights is easy, and the best way to take advantage of your new stash of points. If you log into your Rapid Rewards account online and input your flight details, you can search flight availability and have your trip covered by your rewards balance (excluding taxes and fees). 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. However, in addition to flights and travel purchases, you can redeem your points through the Southwest More Rewards portal, which allows Southwest credit card members to trade their points for gift cards to restaurants, department stores, popular retailers and other businesses. You may also contribute your points to select charities as well.
Since Bankrate's latest miles valuation estimated Rapid Rewards points to be 1.5 cents per point when redeemed for flights, the 3X rewards rate is worth 4.5 cents for every $1 spent on Southwest airline purchases and the 2X rewards rate is worth 3 cents for every $1 spent on participating Rapid Rewards® hotel and rental car partners, as well as rideshares. 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.
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.
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.
The Southwest Rapid Rewards Premier Business Credit Card charges an annual fee of $99. Unlike some airline credit cards, such as the CitiBusiness® / AAdvantage® Platinum Select® Mastercard®, as 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.
There is no 0 percent intro APR offer for new purchases or balance transfers, which would’ve been a beneficial perk for small business owners who need time to pay down their balance without accruing interest, as the ongoing variable APR with this card is 20.24 percent to 27.24 percent.
Other non-airline specific business rewards cards may provide more opportunities for saving interest on new purchases than the Southwest Rapid Rewards Premier Business Card. For example, the American Express Blue Business® Plus Credit Card has no annual fee and a 0 percent introductory APR offer on purchases for 12 months (variable APR of 17.49 percent to 25.49 percent thereafter) with 2X points on up to $50,000 in purchases per year (unlimited 2X points on prepaid rental cars booked through AmexTravel.com; 1X points after that).
Annual fee
Intro offer
Rewards rate
Recommended Credit Score
Annual fee
Intro offer
Rewards rate
Recommended Credit Score
Annual fee
Intro offer
Rewards rate
Recommended Credit Score
For business travelers who frequently fly Southwest, the Southwest Rapid Rewards Premier Business Credit Card is an obvious choice. However, its higher-caliber sibling, the Southwest Rapid Rewards Performance Business Credit Card, could be a better 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.
The Performance Business Card also has higher sign-up bonus earnings, as it offers 80,000 bonus points on $5,000 in purchases within the first three months — 20,000 more points than the Premier Business Card's 60,000 sign-up bonus, but you must spend $2,000 more to get the former offer. Overall, if you don't mind paying more for the sign-up bonus and annual fee in exchange for a better rewards rate, sign-up bonus and benefits, the Performance Business Card is the clear winner. However, if you can't justify the $199 annual fee, the Premier Business Card is a better choice.
If you want an airline card for your small business other than Southwest, you may want to consider the CitiBusiness / AAdvantage Platinum Select Mastercard. As opposed to the Southwest Premier Business Card, the CitiBusiness / AAdvantage Card offers free checked bags for you and up to four companions traveling on your reservation, priority boarding, 25 percent off inflight Wi-Fi, food and drink as well as a $99 annual fee that is waived for the first year.
When you use the CitiBusiness / AAdvantage Platinum Select Mastercard, you earn 2X miles per dollar spent on American Airlines purchases as well as cable, satellite, telecommunication, car rental and gas station purchases, plus 1X mile per dollar spent on other purchases. For every eligible mile earned from purchases, the card also earns 1 loyalty point. You can redeem AAdvantage miles with American or one of the airline's oneworld alliance partners, giving you more flexible flight options than with the Southwest Premier Business Card.
As far as which card is better, the Citi / AAdvantage Card definitely has better perks, but it all depends on your personal preferences. What would you prefer to have: an American Airlines First Class ticket and in-flight discounts or a Southwest Companion Pass so that you can fly with a friend?
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 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 as well as shipping and advertising made with social media, search engines and cable and phone services (up to $150,000 in combined purchases each account anniversary year; 1X points thereafter). 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.
The Ink Business Unlimited® Credit Card could also be a valuable partner card thanks to its boosted 1.5 percent cash back rate 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.
* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.
Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.