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 Name | Southwest Rapid Rewards® Performance Business Credit Card |
|---|---|
| Annual fee | $199 |
| Purchase APR | 18.24% to 25.24% variable |
| Balance transfer APR | 18.24% 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 APR | 29.99% variable |
| Foreign transaction fee | None |
| Interest free period | Up to 20 days |
| Late payment fee | Up to $39 |
| Returned payment fee | Up to $39 |
| Rates & fees | rates & fees |
| Minimum Age | 18 years of age |
|---|
| Welcome Offer | 80,000 points after spending $5,000 in the first 3 months |
|---|---|
| Rewards | 3x 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 Rewards | 1x 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
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Signup bonus.
Earn 80,000 points when you spend $5,000 on purchases in the first 3 months from account opening.
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Anniversary points.
Earn 9,000 points each year on your cardmember anniversary.
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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.
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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.
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Flight upgrades.
You’ll receive four upgraded boardings per year when available.
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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
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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
How to apply for the Chase Southwest Rapid Rewards® Performance Business Credit Card
- Learn more about how to apply for the Southwest Rapid Rewards® Performance Business Credit Card.
- Fill out the application form, review your information and click Submit.
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.
