Southwest® Rapid Rewards® Performance Business Credit Card review: The flagship business card for Southwest enthusiasts
Along with stellar flight rewards, the travel perks make it the best Southwest card.
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Snapshot
4.7
Bottom line
Intro offer
Earn 80,000 points.
Rewards Rate
1X - 4X
Annual fee
$199
Regular APR
20.49% - 27.49% Variable
4.1
Cardholder rating
Extra perks
Online tools
Rewards value
Customer service
4.7
Bankrate score
Rewards value
APR
Rewards flexibility
Features
Reward Details
Card Details
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Southwest® Rapid Rewards® Performance Business Credit Card overview
If you’re a frequent Southwest flyer who owns your own business, flies for business purposes or has employees who book travel with a credit card you provide them, the Southwest® Rapid Rewards® Performance Business Credit Card could be just the card you need. It comes loaded with features, including a terrific welcome bonus, anniversary points, a credit for Global Entry or TSA PreCheck membership and frequent flyer perks like four upgraded boardings per year.
However, if you aren’t one of Southwest Airline’s most loyal customers, or you don’t plan to become a frequent Southwest frequent flyer, then you might want to opt for another airline rewards card or a general business credit card with more flexible travel points or miles.
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Rewards
- 4X points on Southwest purchases (including airfare, in-flight purchases and gift cards)
- 3X points on Southwest-partnered hotel and rental car purchases
- 2X points on local transit and commuting (including rideshares), social media and search engine advertising and internet, cable and phone services
- 1X points on other purchases
Expert Appraisal: Good
See our expert analysis -
Welcome offer
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Earn 80,000 points after you spend $5,000 on purchases in the first 3 months from account opening.
Expert Appraisal: Good
See our expert analysis -
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Rates and fees
- Annual fee: $199
- 20.49% - 27.49% Variable
- No foreign transaction fees
Expert Appraisal: Typical
See our expert analysis -
Other cardholder perks
- 9,000-point account anniversary bonus
- Four upgraded boardings each year
- $500 annual credit for point transfers to another Southwest user or pre-selected charity
- Up to $120 application fee credit for Global Entry, TSA PreCheck or NEXUS (every four years)
- Solid travel protections, including lost luggage reimbursement, baggage delay insurance and auto rental coverage
- 10,000 Companion Pass qualifying points each year
- 1,500 tier qualifying points (TQPs) toward A-List status, after each $5,000 spent annually
Expert Appraisal: Good
See our expert analysis
Southwest Rapid Rewards Performance Business pros and cons
Pros
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The generous sign-up bonus easily offsets the card’s high annual fee for the first year.
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An excellent rewards rate for Southwest purchases and a range of other popular business expenses make this perhaps the most rewarding Southwest card.
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Qualify for handy perks like in-flight Wi-Fi credits, early boardings, a credit for Global Entry or TSA PreCheck and free employee cards.
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The 9,000-point cardmember anniversary is the best yearly bonus on a Southwest card, and can make up for a good bit of the annual fee.
Cons
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The high $199 annual fee may be difficult to offset for anyone not taking advantage of the perks and benefits.
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Not as good for general travel if you’re not primarily a Southwest flyer.
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Doesn’t offer the strongest travel protections and benefits for a premium card of its caliber.
First-year value vs. ongoing value
There's plenty of gas left in the tank after the exceptional first-year value since all of the annual credits are ongoing. The estimated yearly rewards value is also a cut above for competing co-branded cards, although general-purpose cards still have an edge (based on our card value rating methodology and an estimated $48,000 annual spend). Plus, if your business often calls for using in-flight Wi-Fi and transferring reward points, the extra annual credits can add extraordinary value. The $500 credit for point transfers can keep more hard-earned rewards value in your pocket each year, and the potential $2,920 in Wi-Fi credits each year can be a massive savings if you fly several once or more a week (provided as up to 365 $8 credits, but unused Wi-Fi credits aren’t reimbursed or rolled over).
| Benefits and costs | First-year value | Ongoing value |
|---|---|---|
| Estimated yearly rewards via card spend | +$806 | +$806 |
| Welcome offers |
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| Perks (of monetary value) |
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| Annual fee | -$199 | -$199 |
| Total value | $2,092 | $892 |
Why you might want the Southwest Rapid Rewards Performance Business card
The Southwest Performance Business card pulls ahead of other Southwest credit cards — and several competing airline cards for business travel — thanks to its high rewards rate on airline purchases, remarkable welcome offer and valuable perks.
Welcome offer: One of the best airline bonuses
The 80,000-point welcome offer is one of the most valuable airline card bonuses on the market, and the $5,000 spending requirement in the first three months is remarkably accessible for a travel card of its caliber — especially compared to other premium business card offers.
Based on Bankrate’s latest points and miles valuations, we estimate Southwest points are worth 1.5 cents on average. That makes this offer worth about $1,200, which can be more valuable than offers from similar business airline cards. While 80,000 points alone could easily be enough for a round-trip domestic flight or a flight to Mexico or the Caribbean, this offer is also extremely useful if you’re trying to save on flights with business clients and employees by earning the Southwest Companion Pass. Since you need to complete 100 qualifying one-way flights or earn 135,000 Southwest qualifying points within a calendar year to earn the Companion Pass benefit — and the card already provides 10,000 Companion Pass-qualifying points each year — this card’s bonus offer can get you most of the way there.
However, it’s worth noting that the current bonus is a step down from its last welcome offer, which was 80,000 points after you spend $5,000 on purchases in the first three months plus another 40,000 points when you spent $15,000 in nine months. That was one of the biggest sign-up bonuses we’ve seen this card carry. Unless you’re still on the fence, it may not be worth waiting on the off chance that a more valuable offer eventually rolls around again.
Rewards: First-class airline rate
The 3X points on participating hotel and rental car partners is solid, and on par with the airline and general travel rewards rate competing airline and general business travel cards offer. However, the 4X points on Southwest purchases is a notch above the airline rewards rate that competing co-branded airline cards provide. This gives the Performance Business card an even bigger leg up over the competition considering our point and mile valuations estimate that Southwest points are some of the most valuable airline rewards available — and the most valuable among domestic airlines.
The 2X-point rewards categories are solid for a premium business airline card, and the rideshare, commuting and local transit rewards can be useful on business trips. If you spend a lot on other purchases for your business, you’ll be happy to know you’ll earn 2X points on social media and search engine advertising as well as internet, cable and phone services along with 1X points on all other purchases. Several other business travel cards earn similar rewards rates on these advertising and telecoms purchases, and although they’re handy, they may not be as rewarding as dining or other business product and service categories that some competitors provide.
Although these are relatively solid rates for a card in this price range — particularly for small business employees who fly often — there are more affordable options to maximize your rewards strategy in the non-airline categories. A $199 annual fee, while easily offset with the card’s travel perks, will be difficult to offset if your travel habits will leave you relying on rewards to recoup the cost.
There are also other ways to earn Southwest points, including the Southwest dining rewards program. Southwest even has its own shopping portal that lets you earn bonus points when you make purchases with participating retailers online.
Perks: Best Southwest benefits available
The Southwest Rapid Rewards Performance Business comes with a higher annual fee than some other airline credit cards. On the bright side, you get plenty of valuable perks in return — and the best Southwest-specific perks available. For instance, the annual 9,000-point bonus is the largest account anniversary bonus a Southwest card provides, and it could make up most of the annual fee in sheer rewards value. Since these points are worth approximately 1.5 cents each on average, this bonus could be worth $135.
Fortunately, the other major perks can be valuable enough to more than make up for the rest of the annual fee:
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In-flight Wi-Fi and point transfer credits
You’ll also get up to 365 in-flight Wi-Fi credits per year. Normally, internet access on Southwest flights will set you back $8 per day, per device. So this credit can help you save considerable sums of money, especially if you fly Southwest frequently. You can also get up to $500 in credits toward point transfers to other Rapid Rewards accounts or pre-selected charities, although — like the Wi-Fi credits — these credits might not be as valuable for cardholders who don’t use these services often.
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Global Entry, TSA PreCheck or NEXUS application fee credit
Like other popular travel credit cards, the Southwest Rapid Rewards Performance Business card gives cardholders a statement credit for Global Entry or TSA PreCheck membership, but this is one of the few cards to also cover application fees for the NEXUS program. This credit is good for up to $120, and you can use it to renew a membership every four years.
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Four upgraded boardings
You’ll also get four upgraded boardings per year every year you’re a cardmember. Since Southwest uses a unique boarding process with no assigned seats, getting on the plane early gives you a much better chance at getting the seat you want. Upgraded boarding normally starts at $30, so this perk could be worth at least $120.
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Earn tier-qualifying points
If you’re interested in earning A-List status with the Southwest Rapid Rewards program, then you’ll be happy to know this card lets you earn extra Tier Qualifying Points (TQPs) toward elite status — 1,500 TQPs for every $5,000 you spend on purchases.
Despite being the top-of-the-line Southwest card, though, the Performance Business card doesn’t come with perks you’d normally find with these flagship cards, like airport lounge access and trip cancellation and interruption insurance. Lounge access is typically available with a top-tier airline card, although Southwest cards don’t carry this valuable benefit. Trip cancellation and interruption insurance may be harder to find on an airline-specific card, but even travel cards with lower annual fees sometimes carry this great protection.
If you prefer these elite perks and simple travel credits, you might want a general-purpose card like the Capital One Venture X Business instead (although a higher annual fee is likely).
Why you might want a different business travel card
Beyond rewards limited to just one airline (especially since Southwest doesn’t have partner airlines), the annual fee might be hard to justify depending on how often you and your employees may use the travel perks on business trips.
Rates and fees: $199 annual fee to justify
The Southwest Rapid Rewards Performance Business card charges a $199 annual fee, but other fees associated with this card are par for the course and easy to avoid. Like many travel cards, there are no foreign transaction fees to worry about either.
Just take inventory of your usual business travel habits and other expenses before applying to make sure you can justify the significant annual fee. It shouldn’t be hard to offset if you maximize the travel perks. Just the annual bonus points and four upgraded boardings can be valuable enough to more than make up for the $199 yearly fee. It takes much more effort if you end up relying on rewards spending to recoup the cost, though. At 1.5 cents each toward flights, you’d have to spend about $3,317 on Southwest purchases each year to earn $199 in rewards value.
Best cards to pair with the Southwest Rapid Rewards Performance Business
Pairing the Southwest Rapid Rewards Performance Business card with a travel credit card from Chase is a no-brainer since it’s the only major issuer rewards program with Southwest as a transfer partner.
How the Southwest Rapid Rewards Performance Business compares to other travel credit cards for business
Since Southwest doesn’t partner with other airlines and Chase is one of the only issuers to include Southwest flights in its travel portal, there aren’t many business cards suited for business travel with Southwest Airlines. With that in mind, here’s how the Southwest Rapid Rewards Performance Business card compares to its closest alternatives: its cost-effective counterpart and Chase’s only general-purpose business card with travel transfer partners.
Annual fee
Intro offer
Earn 80,000 points after you spend $5,000 on purchases in the first 3 months from account opening.
Rewards rate
Earn 4X pts on Southwest® purchases. Earn 3X points on Rapid Rewards® hotel and car rental partners. Earn 2X points on rideshare. Earn 2X points on social media and search engine advertising, internet, cable, and phone services. 1X points on all other purchases.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
Intro offer
Earn 60,000 points after you spend $3,000 on purchases in the first 3 months your account is open.
Rewards rate
Earn 3X pts on Southwest® purchases. Earn 2X pts on Rapid Rewards® hotel and car rental partners. Earn 2X pts on local transit and commuting, including rideshare. Earn 1X pts on all other purchases.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
Intro offer
Earn 90,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening.
Rewards rate
Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases – with no limit to the amount you can earn.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Is the Southwest Rapid Rewards Business Credit Card right for me?
The Southwest Rapid Rewards Performance Business can easily be worth it if you often travel with Southwest, stay at its partner hotels or use rental car services. And it could save you even more money thanks to its deep pool of perks for frequent flyers. The lucrative welcome offer, perks, annual bonus, additional bonus categories and stronger rewards rate on Southwest purchases can make this perhaps the best choice for a Southwest card overall — not just for business — if you:
Prefer a smoother trip with expedited airport security, upgraded boardings and in-flight amenities
Regularly make advertising and internet, cable and phone service payments
Have another Chase Ultimate Rewards card to fuel Southwest flights
Alternative picks
Frequently asked questions
How we rated this card
Our proprietary card rating system takes into account a mix of factors when scoring business credit cards, including each card’s rewards rate, estimated annual earnings, welcome bonus value, APR, fees, perks and more.
We analyzed over 50 of the most popular business credit cards and scored each based on how its key features stacked up compared to those of other cards in its category.
Here are some of the key factors that gave this card its score:
What cardholders think
Southwest® Rapid Rewards® Performance Business Credit Card
In May 2024, Bankrate collaborated with third-party SliceMR to survey 6160 cardholders nationwide. Bankrate and Slice MR collected, averaged and presented website analytics and cardholder responses to six questions on a 5-point scale. Responses are based on individual cardholder’s product details, and therefore cannot be verified for accuracy. Users received an incentive for their feedback. User ratings are unedited and have not been reviewed or approved by credit card issuers, nor do these ratings reflect Bankrate’s own reviews of these cards.
Community Reviews
* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.
Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.
