Southwest Rapid Rewards® Premier Business Credit Card review
A points machine if your business regularly flies this low-cost airline.
- Get this card if you frequently fly Southwest Airlines.
- Pick something else if you want more flexible options to redeem points or don’t want to pay an annual fee.
- Apply with an excellent credit score of 740 or higher.
Points as welcome offer
Up to 2x
17.74% to 24.74%
Purchase APR (variable)
|Product Name||Southwest Rapid Rewards® Premier Business Credit Card|
|Purchase APR||17.74% to 24.74% variable|
|Balance transfer APR||17.74% to 24.74% variable|
|Balance transfer fee||$5 or 5% of the transaction, whichever is greater|
|Cash advance rate||26.74% 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|
The Southwest Rapid Rewards® Premier Business Credit Card costs $99, but it could be well worth the price of admission if you’re a frequent Southwest flyer.
The card comes with two standout features:
- A lucrative 60,000-point signup bonus when you spend $3,000 in purchases in the first 3 your account is open.
- 2x points on Southwest purchases and hotel and car rentals through Rapid Rewards, which can increase your points haul quickly if you regularly send employees on business trips.
Signup bonus: 60,000 bonus points.
When you spend $3,000 on purchases in the first 3 months your account is open, you’ll earn 60,000 bonus points. This is a big signup bonus — one of the best you’ll find among airline credit cards. With these points alone, you can likely take a few quick flights.
Rewards: 2x points on Southwest purchases as well as hotels and rental cards when you book with Rapid Rewards.
You’ll earn 2 Rapid Rewards points for each dollar you spend on Southwest Airlines purchases. For all other purchases, you’ll earn 1 point per dollar spent.
When you redeem them for flights, Rapid Rewards points are quite valuable — they’re typically worth around 1.5 cents apiece. That’s higher than the industry average of 1 cent for 1 point. But take care when redeeming your points for other rewards like gift cards and merchandise — they can be worth a lot less.
If your business doesn’t take many Southwest flights, your reward earnings may be anemic. Instead, consider a card like the Ink Business Preferred℠ Credit Card, which allows you to transfer points at a 1:1 ratio to programs like Southwest Airlines Rapid Rewards. That means transferring 16,000 points from your Ink Business Preferred℠ Credit Card to an eligible program could equal 16,000 of that program’s points.
Receive 6,000 bonus points after each account anniversary.
As long as your account remains open and in good standing, you’ll receive 6,000 points every card year.
With Rapid Rewards, 6,000 points are worth about $90. That’s almost enough to cover the card’s $99 annual fee, and it’s often enough to pay for a one-way flight. As long as you use your points, it could be relatively easy to make this card worth paying for.
How good is the Southwest Rapid Rewards® Premier Business Credit Card‘s signup bonus?
If you qualify for the card’s signup bonus, you’ll receive 60,000 bonus points.
To give you an idea of how much that’s worth, check out these round-trip flights:
- Los Angeles to Las Vegas — 9,982 points
- Chicago to Ft. Lauderdale — 11,449 points
- New York City to Denver — 17,238 points
- Seattle to Atlanta — 25,542 points
- Los Angeles to New York — 34,321 points
All in all, the Southwest Rapid Rewards® Premier Business Credit Card offers an impressive signup bonus. Depending on where you fly, you might be able to squeeze a few round-trip flights from the points you earn.
You’ll also like …
0% foreign transaction fees.
You won’t incur fees when you use your card abroad or make purchases through foreign websites. Typically, providers charge a 3% fee each time you use your card for an international transaction. It doesn’t sound like much, but it can add up over trips spanning several days.
Because the Southwest Rapid Rewards® Premier Business Credit Card comes with 0% foreign transaction fees, it’s an excellent card to take on vacation or business trips.
Southwest Airlines perks.
When you travel with Southwest, you can check your first and second bags for free. Also, you’re never charged change fees when you modify your bookings.
It may sound like you only get these perks with the Southwest Rapid Rewards® Premier Business Credit Card. That’s not the case, though: Every Southwest customer gets access.
Enjoy lost luggage reimbursement, which offers coverage if you or your immediate family members’ bags are damaged or lost by your carrier. Each passenger is covered for up to $3,000.
If your carrier fails to transfer your bags on time, you may have to shell out money for essential purchases like toiletries and clothing. Baggage delay insurance covers you for eligible expenses — up to $100 a day for three days.
On each eligible item you purchase with your card, you receive extended warranty protection of up to a year. You may also receive purchase protection, which reimburses you up to $10,000 per claim if your purchases are damaged or stolen.
Employee cards at no additional cost.
Add employees as authorized users to your account, then set individual spending limits for each card. You’ll earn rewards on your employees’ spending.
What to watch out for
The Southwest Rapid Rewards® Premier Business Credit Card comes with a $99 annual fee. It’s largely offset by the 6,000 bonus points you’ll earn each card year — but only if you redeem those points.
Chase may raise your purchase, balance transfer or cash advance APR as high as 29.99% if you make a late or returned payment. This is known as a penalty APR. Chase may apply it to your account indefinitely.
There are many providers that don’t apply penalty APRs, so don’t be afraid to shop around.
For a late payment, you’ll pay a fee of $15 if your balance is less than $100. If your balance is between $100 and $250, you’ll pay a fee of $29. If your balance is $250 or more, you’ll pay a fee of $39.
For each returned payment, you’ll pay a fee of $39.
Chase charges higher-than-average balance transfer and cash advance fees for the Southwest Rapid Rewards® Premier Business Credit Card.
For each balance transfer, you’ll pay $5 of the transaction. For each cash advance, you’ll pay $15 or 5% of the cash advance amount, whichever is greater. Other providers only charge 3% of each transaction.
Compare business credit cards
What size business is Southwest Rapid Rewards® Premier Business Credit Card good for?
The Southwest Rapid Rewards® Premier Business Credit Card is likely best for medium to large businesses. It has an annual fee of $99, so you’ll probably want to earn enough rewards from it to justify its cost.
Furthermore, you’ll only earn accelerated rewards on Southwest spending. That means it’s most effective if your business consistently sends employees on Southwest flights.
What should I know before I apply?
Apply for the Southwest Rapid Rewards® Premier Business Credit Card if:
- You’re at least 18 years old (or at least 19 years old, if you live in Alabama of Nebraska).
- You’re a citizen or permanent resident of the US.
- You have a business registered in the US.
- You have a valid tax identification number.
Information you’ll need
To complete the application, you’ll need to provide information about yourself and your business, including:
- Your name, residential status and residential address.
- Your Social Security number.
- Your email address, phone number and date of birth.
- Financial information, like your annual income and source of income.
- The name of your business, its mailing address and its employee count.
- Your years in business and annual business revenue.
What credit score do I need?
You have a better chance of approval for this card if you apply with an excellent credit score of 740 or higher.
What’s my likelihood of being approved?
If you have a healthy business and excellent credit, your likelihood of approval is high.
Here are a few other factors that might affect your odds of approval:
- Whether you’re a current Chase customer.
Chase backs this card, and it’s reportedly more likely to approve its current banking and credit card customers. This makes sense, as it can more readily evaluate your financial stability with the data it already has. It also has an incentive to keep you happy as a customer.
- How many hard pulls you have on your credit report.
If you have several hard inquiries — or hard pulls — on your account, it might make you look desperate for credit. This implies you’re having trouble managing your debt, and Chase may be less likely to take you on as a customer.
- Factors that tie into your credit score.
Credit utilization is a major factor that Chase considers. The bank prefers a customer who has low balances relative to their credit limit. Having many new card accounts may be a red flag too, as it may indicate you’re desperate for credit. It may also give the impression that you’re a flighty customer who’s just hunting for signup bonuses.
What do customers say about the Southwest Rapid Rewards® Premier Business Credit Card?
Customers generally say the Southwest Rapid Rewards® Premier Business Credit Card is a strong choice for frequent travelers. However, some customers say they’ve had trouble collecting their signup bonuses, or their signup bonuses changed after they applied for their cards.
Chase earns a Trustpilot score of 5.5 out of 10 at the time of this writing. Most negative reviews cite slow responses to fraud complaints and less-than-helpful customer service. Positive reviews cite the bank’s great mobile app and quick resolutions to their issues. Overall, your mileage may vary with Chase customer support.
The JPMorgan Chase Credit Card division earns an overall A+ rating from the Better Business Bureau.
How to apply for the Southwest Rapid Rewards® Premier Business Credit Card
- Learn more about how to apply for the Southwest Rapid Rewards® Premier Business Credit Card.
- Complete the application by providing your personal, financial and business details.
- Confirm that the information you’ve provided is correct and click Submit.
How long will it take to be approved?
Because conditional credit card approval is automated on the website, you may get a decision on your application within a few minutes. If there are issues with your application, it may take a few business days to a few weeks to hear back.
How long will it take to get my Southwest Rapid Rewards® Premier Business Credit Card?
After you’re approved, you’ll typically receive your card within 7 to 10 business days.
I got the card. Now what?
- Make timely payments. Pay your card bill online at the Chase website, where you can enroll in autopay.
- Avoid interest. After the close of each billing cycle, you have a grace period of at least 20 days to pay your balance. If you do, you won’t pay interest on your purchases.
- Avoid fees. Late and returned payments come with fees of up to $39. The balance transfer fee is $5 of each transfer, and the cash advance fee is $15.
- Contact customer service. If you have questions, contact Chase Credit Cards support at 1-800-432-3117.
If your business regularly flies Southwest Airlines, the Southwest Rapid Rewards® Premier Business Credit Card can crank out tons of points. If it doesn’t, you might be better off with a general travel card or another cobranded airline card.