Chase Southwest Rapid Rewards Performance Business card | finder.com

Southwest Rapid Rewards® Performance Business Credit Card review

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  • Clicking Apply now will take you to your Online Application on the product issuer's website. You do not need to be an existing customer of this provider to apply.
  • Your application will typically take you no more than 10-15 minutes to complete.
  • Conditional approval will typically happen within 1 business day after submitting your application. In many cases, you will have your funds within a week.
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An upgraded card, with a higher annual fee.

  • You want a luxury-esque business card under the Southwest umbrella.
  • You want a lower annual fee or different earning categories.
  • Apply with a good to an excellent credit score of 670 or higher.
Product NameSouthwest Rapid Rewards® Performance Business Credit Card
Annual fee$199
Purchase APR18.24% to 25.24% variable
Balance transfer APR18.24% to 25.24% variable
Balance transfer fee$5 or 5% of the transaction, whichever is greater
Cash advance fee$15 or 5% of the cash advance amount, whichever is greater
Penalty APR29.99% variable
Foreign transaction feeNone
Interest free periodUp to 20 days
Late payment feeUp to $39
Returned payment feeUp to $39
Rates & feesrates & fees
Minimum Age18 years of age
Welcome Offer80,000 points after spending $5,000 in the first 3 months
Rewards3x points on Southwest Airlines, 2x points on social media and search engine advertising, Internet, cable, and phone services and 1x points on all other purchases
Base Rewards1x points

Chase just dropped a new addition to its Southwest business credit card offerings — the Southwest Rapid Rewards® Performance Business Credit Card. It’s a top-notch Rapid Rewards card in terms of sheer performance and perks. But the tradeoff is an annual fee of almost $200 — higher than Chase’s other Southwest Airlines cards.

The basics

Business owners who fly Southwest will be hard-pressed to find a card with a better pound-for-pound value. The enormous welcome offer will catapult you most of the way toward earning a Southwest Companion Pass – a very good bonus considering the value of a Southwest companion pass.

Earning categories on this card sport larger rates than the Southwest Rapid Rewards® Premier Business Credit Card. They are also tailored to categories helpful to small and mid-sized businesses.

The main tradeoff for these gains is the larger annual fee compared to Chase’s other Southwest business offerings. However, if you can use the perks, they can cover the fee and take the sting out of the high price.

Card benefits

  • Signup bonus.
    Earn 80,000 points when you spend $5,000 on purchases in the first 3 months from account opening.
  • Anniversary points.
    Earn 9,000 points each year on your cardmember anniversary.
  • Reward points.
    Earn 3x points for every dollar spent on eligible Southwest Airlines purchases. Earn 2x points on every dollar spent on social media, search engine advertising, Internet, cable and phone services. Earn 1x point for every dollar spent on all other purchases.
  • Travel credits.
    Enjoy a Global Entry or TSA Precheck fee credit as a statement credit up to $100 every four years. You’ll also enjoy in-flight WiFi credits.
  • Flight upgrades.
    You’ll receive four upgraded boardings per year when available.
  • Earn tier qualifying points.
    For each $10,000 you spend with your card you’ll earn 1,500 tier qualifying points, up to $100,000 in purchases total.

What to watch out for

  • Annual fee.
    You’ll pay a $199 annual fee to use this card. This is the highest annual fee among Chase’s Southwest Airlines offerings.
  • No intro APR for purchases.
    If you were hoping to use your card to help kickstart your new business, this might not be the best choice.
  • Might not be eligible for balance transfers.
    According to Chase’s site, this card might not be eligible for balance transfers. Unfortunately, further information isn’t provided on the Chase site, so call ahead if your were interested in balance transfers.

Compare Business credit cards

Updated August 23rd, 2019
Name Product Rewards Purchase APR Annual fee
2% cash back on all purchases on up to $50,000 per calendar year, then 1%
0% intro for the first 12 months (then 15.24% to 21.24% variable)
$0
Earn 2% cash back on all purchases on up to $50,000 per calendar year, then 1%. Rates & fees
2% cash back on all purchases
19.24% variable
$0 intro annual fee for the first year ($95 thereafter)
Earn $500 after spending $4,500 in the first 3 months.
1.5% cash back on all purchases
0% intro for the first 9 months (then 15.24%, 19.24% or 23.24% variable)
$0
Unlimited 1.5% cash back on every purchase, every day.
2x points on everyday business purchases on up to $50,000 annually, then 1x points
0% intro for the first 12 months (then 15.24% to 21.24% variable)
$0
Earn 2x Membership Rewards® points on everyday business purchases on up to $50,000 with no category restrictions. Rates & fees
2x miles on all purchases
19.24% variable
$0 intro annual fee for the first year ($95 thereafter)
Earn unlimited 2x miles on every purchase for your business, with no blackouts or seat restrictions, and no minimum to redeem.

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How to apply for the Chase Southwest Rapid Rewards® Performance Business Credit Card

  1. Learn more about how to apply for the Southwest Rapid Rewards® Performance Business Credit Card.
  2. Fill out the application form, review your information and click Submit.

Chase Southwest Rapid Rewards Performance Business credit card Screenshot

What credit score do I need?

You should apply with at least a good credit score of 670 or higher.

Bottom line

With a huge signup bonus, improved bonus point earning rates and a host of travel perks, the Southwest Rapid Rewards® Performance Business Credit Card is the new go-to card if you’re a Southwest loyalist – even with the increased annual fee.

If you don’t travel enough to offset the increased annual fee or you prefer other earning categories, compare other travel credit card options to find one that suits your business and spending needs.

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