Our Take
4.7
NerdWallet rating
The bottom line:
For small-business owners loyal to Southwest Airlines, the
Southwest® Rapid Rewards® Premier Business Credit Card
is a cost-effective way to earn points and perks on their favorite airline. Southwest® Rapid Rewards® Premier Business Credit Card
Annual fee
$99
Regular APR
20.49%-27.49% Variable APR
Intro APR
N/A
Apply now
on Chase's website
More details from Chase
- Earn 60,000 points after you spend $3,000 on purchases in the first 3 months your account is open.
- 6,000 bonus points after your Cardmember anniversary.
- Earn 3X points on Southwest Airlines® purchases.
- Earn 2X points on Rapid Rewards® hotel and car rental partners.
- Earn 2X points on rideshare.
- 1 point per $1 spent on all other purchases.
- 2 EarlyBird Check-In® each year.
- Member FDIC
View Rates & Fees
Pros & Cons
Pros
- Anniversary perk
- No reward caps
Cons
- Has annual fee
- Rewards have limited flexibility
Compare to Other Cards
at Chase | at Chase | at Chase |
Annual fee $99 | Annual fee $149 | Annual fee $69 |
Regular APR 20.49%-27.49% Variable APR | Regular APR 20.49%-27.49% Variable APR | Regular APR 20.49%-27.49% Variable APR |
Intro APR N/A | Intro APR N/A | Intro APR N/A |
Recommended credit score 690-850good - excellent | Recommended credit score 690-850good - excellent | Recommended credit score 690-850good - excellent |
Full Review
For small-business owners loyal to Southwest Airlines, the
Southwest® Rapid Rewards® Premier Business Credit Card
is a decent and frugal pick.The card, issued by Chase, offers an automatic pile of anniversary points every year you have the card, which can help significantly defray its
$99
annual fee. It also comes with a substantial sign-up bonus that gives you a leg up toward a coveted Southwest Companion Pass.But if you fly Southwest quite frequently, this card's more expensive brother — the
$199
-annual-fee Southwest® Rapid Rewards® Performance Business Credit Card
— might offer you more value for your loyalty and common business expenses.🤓 Nerdy Tip
Southwest and Chase also offer three other co-branded credit cards aimed at general consumers. Read more about those cards here.Southwest® Rapid Rewards® Premier Business Credit Card: Basics
Card type: Small business.
Annual fee:
$99
.Sign-up bonus:
Earn 60,000 points after you spend $3,000 on purchases in the first 3 months your account is open.
Rewards:
- Earn 3 points per $1 spent on Southwest® purchases.
- Earn 2 points per $1 spent on Rapid Rewards® hotel and car partners.
- Earn 2 points per $1 spent on local transit and commuting, including rideshare.
- Earn 1 point per $1 spent on all other purchases.
NerdWallet values Southwest points at
1.3 cents
each. This is a baseline value drawn from real-world data on hundreds of economy routes, not a maximized value. In other words, aim for award redemptions that offer 1.3 cents
or more in value to get the most from your Southwest points.APR:
The ongoing APR is 20.49%-27.49% Variable APR
.Foreign transaction fee: None.
Other perks:
- 6,000 bonus points after every cardmember anniversary year.
- 2 EarlyBird Check-In® each year.
- Earn unlimited tier qualifying points towards A-List status.
- 1,500 tier qualifying points for each $10,000 spent on qualifying purchases.
- Auto rental collision damage waiver (which offers primary coverage), baggage delay insurance, lost luggage insurance, travel accident insurance and others.
Why you might want the Southwest® Rapid Rewards® Premier Business Credit Card
A GENEROUS WELCOME OFFER
The
Southwest® Rapid Rewards® Premier Business Credit Card
starts with a generous sign-up bonus: Earn 60,000 points after you spend $3,000 on purchases in the first 3 months your account is open.
That's enough to get you nearly halfway to earning a Southwest Airlines Companion Pass, which allows you to choose a companion to fly with you for free (you pay taxes and fees) for the rest of the calendar year in which you've earned it, plus the entire following calendar year. Snagging a Companion Pass requires earning 125,000 Rapid Rewards points in a calendar year, and this card's sign-up bonus counts toward that total. (You can also earn a pass by flying 100 qualifying one-way flights in a calendar year.)VALUABLE ANNIVERSARY POINTS
Even if you never set foot on a plane, you'll earn 6,000 bonus points after every cardmember anniversary, worth roughly $84, based on NerdWallet's valuations. That's nearly enough on its own to make up for the annual fee of $99. And that's on top of the card's rewards for ongoing spending.
A PATH TOWARD A-LIST STATUS
A-List status can offer benefits like bonus points, priority check-in and free same-day standby, among other benefits. With this card, you’ll have the opportunity to snag unlimited tier qualifying points annually toward this status. You earn 1,500 tier qualifying points for every $10,000 spent in qualifying Southwest purchases. To earn A-List status, you need 35,000 tier qualifying points or 25 one-way flights per calendar year.
IDEAL FEATURES and PROTECTIONS FOR TRAVELERS
The
Southwest® Rapid Rewards® Premier Business Credit Card
makes for a good travel companion, thanks to its lack of foreign transaction fees and the fact that it runs on the widely accepted Visa payment network. Using the card to book travel also means you'll get travel benefits like lost luggage reimbursement and travel accident insurance, which can save you money.🤓 Nerdy Tip
Often, a big perk of a co-branded airline credit card is that it offers free checked bags, a benefit that can help cover an annual fee. Southwest credit cards don't offer such a perk, but the airline doesn't charge for your first two checked bags anyway.How it compares to the Southwest® Rapid Rewards® Performance Business Credit Card
Southwest and Chase offer two different small-business credit cards. And while the
Southwest® Rapid Rewards® Premier Business Credit Card
has the lower annual fee of the two, its rewards and perks aren't nearly as robust as those found on the Southwest® Rapid Rewards® Performance Business Credit Card
.In fact, frequent Southwest flyers will likely come out ahead with the more expensive card, given the value it can return in the form of higher rewards, as well as reimbursements, credits and tier qualifying points (which help you earn status with the airline, including benefits such as priority boarding).
Here's a side-by-side comparison of the two cards:
Annual fee | $99 | $199 |
Rewards | 3 points per $1 spent on qualifying Southwest Airlines purchases, 2 points per $1 spent on transit including rideshares and 1 point per $1 spent on all other purchases. | 4 points per $1 spent on qualifying Southwest Airlines purchases; 2 points per $1 spent on social media and search engine advertising, internet, cable and phone services; and 1 point per $1 spent on all other purchases. |
Sign-up bonus | Earn 60,000 points after you spend $3,000 on purchases in the first 3 months your account is open. | Earn 80,000 points after you spend $5,000 on purchases in the first 3 months from account opening. |
Anniversary points | 6,000 bonus points. | 9,000 bonus points. |
Foreign transaction fees | None. | None. |
APR | The ongoing APR is 20.49%-27.49% Variable APR . | The ongoing APR is 20.49%-27.49% Variable APR . |
Tier qualifying points | Up to 1,500 tier qualifying points for each $10,000 spent on qualifying purchases (no annual limit). | Up to 1,500 tier qualifying points for each $10,000 spent on qualifying purchases (no annual limit). |
Credits/reimbursements | N/A | Reimbursement of up to four upgraded boardings upon each anniversary year (when available), in-flight Wi-Fi credits and a statement credit for Global Entry or TSA Precheck programs. |
Why you might want a different card
A LOWER ANNUAL FEE
While the
Southwest® Rapid Rewards® Premier Business Credit Card
has a lot to offer for business owners who occasionally fly Southwest, the consumer version of this card can provide similar benefits at a lower annual fee of $69
. It's called the Southwest Rapid Rewards® Plus Credit Card
, and it earns 2 points per $1 spent on qualifying Southwest Airlines purchases (including flights, in-flight purchases, Southwest gift cards, and at participating Rapid Rewards® hotel and rental car partners); 2 points per $1 spent on local transit (including rideshares), internet, cable, and phone services as well as select streaming; and 1 point per $1 spent on everything else. New applicants are eligible for the following sign-up bonus: Earn 50,000 bonus points after spending $1,000 on purchases in the first 3 months from account opening.
MORE REDEMPTION FLEXIBILITY
The
Southwest® Rapid Rewards® Premier Business Credit Card
doesn’t offer cash redemptions. The Ink Business Preferred® Credit Card
lets you redeem points for cash, gift cards, travel and qualifying products or services. Points are more valuable when redeemed through the Chase Ultimate Rewards® portal, and through that portal you can transfer your points at a 1:1 ratio to several other travel loyalty programs, including Southwest. (Points transferred won’t count toward the Companion Pass, though.) The card rewards common business expenses, offering 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, cable, phone services and advertising purchases made with social media sites and search engines each account anniversary year. All other purchases earn 1 point per $1 spent. It has a $95
annual fee.Is the Southwest® Rapid Rewards® Premier Business Credit Card right for you?
The
Southwest® Rapid Rewards® Premier Business Credit Card
can offer decent value, especially when you take into consideration the annual anniversary points you'll receive. But if you're a very frequent Southwest flyer, the Southwest® Rapid Rewards® Premier Business Credit Card
can take your travel further.Apply now
on Chase's website
