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Southwest Rapid Rewards® Performance Business Credit Card review

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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.

70,000

Points as welcome offer

Up to 3x

Points

$199

Annual fee

17.74% to 24.74%

Purchase APR (variable)

Details

Product NameSouthwest Rapid Rewards® Performance Business Credit Card
Annual fee$199
Purchase APR17.74% to 24.74% variable
Balance transfer APR17.74% to 24.74% variable
Balance transfer fee$5 or 5% of the transaction, whichever is greater
Cash advance rate26.74% variable
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 fee$39
Returned payment fee$39
Rates & feesrates & fees

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 70,000 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 October 20th, 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 14.99% to 20.99% variable)
$0
Earn 2% cash back on all purchases on up to $50,000 per calendar year, then 1%. Rates & fees
2x points on everyday business purchases on up to $50,000 annually, then 1x points
0% intro for the first 12 months (then 14.99% to 20.99% variable)
$0
Earn 2x Membership Rewards® points on everyday business purchases on up to $50,000 with no category restrictions. Rates & fees
3x points on the first $150,000 on travel and select business categories annually, then 1x after and on all other purchases
17.99% to 22.99% variable
$95
100,000 bonus points after you spend $5,000 on purchases in the first 3 months after account opening. That's $1,000 toward travel rewards when you redeem through Chase Ultimate Rewards®
3 cents off per gallon when you buy 30,000 or more gallons in a month plus 3 cents off at the Retail Savings Network
29.24% variable
Up to $120
Earn 3 cents off per gallon when you buy 30,000 or more gallons in a month plus 3 cents off at the Retail Savings Network.
2x miles on Delta purchases and 1x miles on all other purchases
17.49% to 26.49% variable
$0 intro annual fee for the first year ($95 thereafter)
Earn 30,000 miles after spending $1,000 in the first 3 months plus $50 after making a direct Delta purchase in the same timeframe. Rates & fees

Compare up to 4 providers

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.

Frequently asked questions

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