Southwest Rapid Rewards® Performance Business Credit Card review
An upgraded card, with a higher annual fee.
finder.com’s rating: 4.5 / 5
- 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.
Points as welcome offer
Up to 3x
15.99% to 22.99%
Purchase APR (variable)
|Product Name||Southwest Rapid Rewards® Performance Business Credit Card|
|Purchase APR||15.99% to 22.99% variable|
|Balance transfer APR||15.99% to 22.99% variable|
|Balance transfer fee||$5 or 5% of the transaction, whichever is greater|
|Cash advance rate||24.99% variable|
|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||$39|
|Returned payment fee||$39|
|Rates & fees||rates & fees|
Steven Dashiell is a credit cards writer at Finder. He's worked on 250 Finder articles and counting, helping readers embrace and maximize credit cards. Backed by nearly a decade of research and reporting experience, Steve's work can be seen on Debt.com, CreditCards.com and Lifehacker.
Business owners who fly Southwest will be hard-pressed to find a card with a better pound-for-pound value. This card rocks up to a 100,000 point signup bonus, earns up to 3x points on eligible Southwest purchases, provides a $100 TSA PreCheck or Global Entry statement credit and more.
Right off the bat, the enormous welcome offer will catapult you most of the way toward earning a Southwest Companion Pass. Earning categories on this card also sport larger rates than the Southwest Rapid Rewards® Premier Business Credit Card. The earning categories are also tailored to categories helpful to small and mid-sized businesses. And of course, the host of flight perks, such as complimentary flight upgrades and the ability to earn tier qualifying points, makes this card especially valuable for businesses on the go.
The main tradeoff for these gains is the larger annual fee compared to Chase’s other Southwest business offerings and the lack of an intro purchase APR. However, using this card’s perks just a few times along with the anniversary bonus points help take the sting out of the high price. For growing or mid-sized businesses, this card is a great choice to supplement your business and travel needs.
How to apply for the Chase Southwest Rapid Rewards® Performance Business Credit Card
- Go to Chase.com and click on the drop-down menu at the top left of the page. The drop-down menu looks like three horizontal lines.
- Click on Credit cards from the drop-down menu.
- At the new page, click on Business under the Filter card by: heading.
- At the Business Credit Card page, scroll down until you see the Southwest Rapid Rewards® Performance Business Credit Card.
- Click on Learn more and then Sign in to apply to start the process.
What credit score do I need?
You should apply with at least a good credit score of 670 or higher.
- Signup bonus.
Earn 70,000 points when you spend $5,000 on purchases in the first 3 months from account opening.
Plus, earn an additional 30,000 points after you spend $25,000 on purchases in the first 6 months of account opening.
- Anniversary points.
Earn 9,000 points each year on your card member 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 you spend with your card you’ll earn 9,000 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
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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