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Southwest Rapid Rewards® Performance Business Credit Card Review for 2022

Southwest Rapid Rewards® Performance Business Credit Card Review for 2022

The Southwest Rapid Rewards® Performance Business Credit Card―owned by Chase―is designed for business owners who fly Southwest Airlines frequently. It

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The Southwest Rapid Rewards® Performance Business Credit Card―owned by Chase―is designed for business owners who fly Southwest Airlines frequently. It offers exclusive travel perks—such as in-flight Wi-Fi credits, Global Entry or TSA PreCheck® fee credit, and up to four upgraded boardings per year. It has a $199 annual fee and doesn’t charge foreign transaction fees.

If you wish to compare one card over another, choose a maximum of three cards on this page and click Add to compare to view the details in a side-by-side comparison.

Southwest Airlines Rapid Rewards Visa Credit Card

Southwest® Rapid Rewards® Performance Business Credit Card

?Fit Small Business’s ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card’s rates, fees, rewards, and additional features like insurance.

Southwest flyers who want a Global Entry or TSA Pre✓® application fee credit


Apply Now

On Chase’s Secure Website

Regular APR

16.74% – 23.74% Variable

  • Earn 80,000 points after you spend $5,000 on purchases in the first 3 months.
  • 9,000 bonus points after your Cardmember anniversary.
  • Earn 4X points on Southwest® purchases.
  • Earn 3X points on Rapid Rewards® hotel and car partners.
  • Earn 2X points on rideshare.
  • Earn 2X points on social media and search engine advertising, internet, cable, and phone services and 1X points on all other purchases.
  • 4 Upgraded Boardings per year when available.
  • Global Entry or TSA PreCheck® Fee Credit.
Pros
  • Free Global Entry or TSA PreCheck® membership
  • Large sign-up bonus that can help qualify for the companion pass
  • Receive the best rewards for Southwest purchases compared to other Southwest cards
Cons
  • High annual fee that isn’t waived in the first year
  • Reward redemption value is poor outside of Southwest flights
  • Limited options for international travel
  • Global Entry or TSA PreCheck reimbursement: Receive application fee credits up to $100 for Global Entry or $85 for TSA PreCheck.
  • Upgraded bookings: Southwest will reimburse you each anniversary year for the purchase of up to four upgraded boardings,
  • Baggage delay insurance: Reimburses you for essential purchases like toiletries and clothing for baggage delays of more than six hours; up to $100 a day for three days.
Regular APR

16.74% – 23.74% Variable

  • Earn 80,000 points after you spend $5,000 on purchases in the first 3 months.
  • 9,000 bonus points after your Cardmember anniversary.
  • Earn 4X points on Southwest® purchases.
  • Earn 3X points on Rapid Rewards® hotel and car partners.
  • Earn 2X points on rideshare.
  • Earn 2X points on social media and search engine advertising, internet, cable, and phone services and 1X points on all other purchases.
  • 4 Upgraded Boardings per year when available.
  • Global Entry or TSA PreCheck® Fee Credit.
Pros
  • Free Global Entry or TSA PreCheck® membership
  • Large sign-up bonus that can help qualify for the companion pass
  • Receive the best rewards for Southwest purchases compared to other Southwest cards
Cons
  • High annual fee that isn’t waived in the first year
  • Reward redemption value is poor outside of Southwest flights
  • Limited options for international travel
  • Global Entry or TSA PreCheck reimbursement: Receive application fee credits up to $100 for Global Entry or $85 for TSA PreCheck.
  • Upgraded bookings: Southwest will reimburse you each anniversary year for the purchase of up to four upgraded boardings,
  • Baggage delay insurance: Reimburses you for essential purchases like toiletries and clothing for baggage delays of more than six hours; up to $100 a day for three days.

When evaluating travel rewards business credit cards like the Southwest Rapid Rewards® Performance Business Credit Card, we first consider ongoing rewards, introductory rewards, and additional features. We also take into account the annual fee, introductory no-interest financing period, and ongoing annual percentage rates (APRs).


Who the Southwest Rapid Rewards® Performance Business Credit Card Is Best For

  • Business owners who fly Southwest Airlines frequently: You’ll earn four points per dollar spent on purchases made directly with Southwest Airlines. You can redeem these points for free flights.
  • Business owners who travel from time to time: Aside from free flights, the Southwest Rapid Rewards® Performance Business Credit Card allows you to redeem your rewards for hotel stays and car rentals from all around the country.

Southwest Rapid Rewards® Performance Business Credit Card Fees

APR

  • Introductory APR: None
  • Ongoing APR: 16.74% to 23.74% variable—adjusts with the prime rate
  • Cash advance APR: 25.74 variable—adjusts with the prime rate
  • My Chase LoanSM APR: 16.74% to 23.74% variable—adjusts with the prime rate
  • Balance Transfer APR: 16.74% to 23.74% variable—adjusts with the prime rate
  • Cash advance APR: 25.74% variable—adjusts with the prime rate
  • Default APR: Up to 29.99% variable—adjusts with the prime

Fees

  • Grace Period: Minimum of 20 days after the close of each billing cycle.
  • Minimum interest charge: None
  • Annual fee: $199
  • Balance transfer fee: Either $5 or 5% of the amount of each transfer, whichever is greater
  • Cash advance fee: $15 or 5% of the amount of each transaction, whichever is greater
  • Foreign transaction fee: None
  • Late payment fee: $40
  • Return payment: $40
  • Return check: None

Default APR will be applied to your account if at least one condition was met:

  1. You failed to make a minimum payment by the date and time that it’s due.
  2. You made a returned payment.

Should the APR be increased for any of these reasons, the default APR may apply indefinitely to all outstanding balances and future transactions on your account.

Southwest Rapid Rewards® Performance Business Credit Card Rewards

  • 80,000 points after spending $5,000 on purchases within the first three months of opening an account (note that this bonus is available if you don’t have this card and haven’t received a new Cardmember bonus for this card within the past 24 months)
  • 4 points for every dollar spent directly on Southwest Airlines®, including flights, in-flight purchases, Southwest gift cards, and Southwest Vacations package purchases
  • 3 points per dollar spent with Rapid Rewards hotel and car rental partners
  • 2 points for every dollar spent on social media and search engine advertising, internet, cable, and phone services, as well as on local transit and commuting, including rideshare
  • 2 points on social media and search engine advertising, internet, cable, and phone services, and 1 point on all other purchases
  • 9,000 bonus points on each account anniversary
  • Four complimentary upgraded boarding per year, when available, and up to 365 in-flight Wi-Fi credits per year
  • Unlimited 1,500 tier qualifying points toward A-List status for every $10,000 spent
  • $500 fee statement credit as reimbursement for fees associated with using your card to transfer points to another Rapid Rewards member or a pre-selected charity chosen by Southwest with an active Rapid Rewards account
  • Global Entry or TSA PreCheck® Fee Credit

Note that you can redeem your points for free flights to more than 100 destinations with Southwest Airlines and for international flights with more than 50 global carriers. You can also use points for free night stays and car rentals and for merchandise like electronics, golf supplies, luggage, and travel accessories. You can also redeem at least 3,000 points for gift cards.

Referring friends can also let you earn up to 100,000 bonus points per year, with 20,000 bonus points for every friend or business that gets approved for any card.

How To Make Payments on the Southwest Rapid Rewards® Performance Business Credit Card

  • Online: Pay manually online or sign up for automatic payments.
  • By mail: Mail a check or money order with your name and account number to

Cardmember Services
PO Box 6294
Carol Stream, IL 60197-6294

  • Chase Mobile® App: Manage your credit card payments through this app.
  • Western Union: Should you wish to pay your credit card bills through Western Union, make sure to use the Code City WALNUT. Note that it may take up to seven days for the payment to be reflected in your account.
  • Automated phone service: Call (800) 436-7958 or the customer service number on the back of your card or billing statement.
  • ATM or branch: Pay at any Chase ATM or local branch.

Southwest Rapid Rewards® Performance Business Credit Card Additional Features

Global Entry or TSA PreCheck® Reimbursement

You can receive one statement credit every four years when you use the card to apply for Global Entry ($100) or TSA PreCheck® ($85). These programs offer you shorter airport security lines and expedited security screenings.

Baggage Delay Insurance

You’re covered with baggage daily insurance if your checked luggage is delayed or misdirected by a carrier for more than six hours. You and your immediate family members will be eligible for a $100-per-day benefit for up to three days. Items that are excluded from this coverage are prosthetics, jewelry, tickets, cash, and electronic equipment.

Purchase Protection

Purchase Protection covers new purchases against theft or damage for the first 120 days after purchase. Chase may repair, replace, or reimburse you up to $10,000 per item and $50,000 per account per year. Animals and living plants, motorized vehicles, computer software, jewelry, medical equipment, consumables, real estate, and items for resale aren’t covered.

Extended Warranty Protection

The card offers an extended warranty of up to one additional year of coverage on warranties of three years or less. Items that are excluded from this protection are motorized vehicles, computer software, medical equipment, real estate, rented items, and anything preowned.

Lost Baggage Reimbursement

You get lost luggage reimbursement of up to $3,000 on any lost carry-on baggage or checked baggage while in transit. That coverage also includes a benefit of up to $500 for jewelry, watches, cameras, video recorders, and other electronic equipment. Documents or valuable papers, money, securities, tickets, checks, traveler’s checks, and furs aren’t covered.

Travel & Emergency Assistance Services

The cardholder, their spouse, and their dependent children aged 22 years or younger will have access to travel, emergency, medical, and legal assistance 24 hours a day. As this is only a concierge service, the cardholders will be responsible for the cost of any goods or services provided.

Pros & Cons of the Southwest Rapid Rewards® Performance Business Credit Card

Southwest Rapid® Rewards Performance Business Credit Card Alternatives

Southwest Rapid Rewards® Premier Business Credit Card

Southwest Rapid Rewards® Premier Business Credit Card is a great alternative if you want a Southwest co-branded card that has a low annual fee. It’s also a good option if you won’t need other premium travel perks—such as in-flight Wi-Fi credits, Global Entry or TSA PreCheck® fee credit, and upgraded boardings. It should be noted, though, that while this business credit card charges balance transfer and cash advance fees, it’s at a lower rate than the Southwest Rapid Rewards® Performance Business Credit Card.

Southwest® Rapid Rewards® Premier Business Credit Card

?Fit Small Business’s ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card’s rates, fees, rewards, and additional features like insurance.

Receiving rewards on Southwest purchases


Apply Now

On Chase’s Secure Website

Regular APR

16.74% – 23.74% Variable

  • 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 partners.
  • Earn 2X points on rideshare.
  • 1 point per $1 spent on all other purchases.
  • 2 EarlyBird Check-In® each year.
  • Earn unlimited tier qualifying points towards A-List status.
Pros
  • No blackout dates and unlimited reward seats
  • Low annual fee
  • No foreign transaction fees
Cons
  • No introductory 0% APR
  • Lacks premium Southwest Airlines perks
  • Limited rewards
  • Lost luggage reimbursement: Receive coverage up to $3,000 if you or your immediate family members’ checked or carry-on bags are damaged or lost.
  • Baggage delay insurance: Reimburses you for essential purchases like toiletries and clothing for baggage delays over six hours; up to $100 a day for 3 days.
  • Purchase protection: Covers purchases for 120 days against damage or theft. Coverage is capped at $10,000 per claim and $50,000 per account.
Regular APR

16.74% – 23.74% Variable

  • 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 partners.
  • Earn 2X points on rideshare.
  • 1 point per $1 spent on all other purchases.
  • 2 EarlyBird Check-In® each year.
  • Earn unlimited tier qualifying points towards A-List status.
Pros
  • No blackout dates and unlimited reward seats
  • Low annual fee
  • No foreign transaction fees
Cons
  • No introductory 0% APR
  • Lacks premium Southwest Airlines perks
  • Limited rewards
  • Lost luggage reimbursement: Receive coverage up to $3,000 if you or your immediate family members’ checked or carry-on bags are damaged or lost.
  • Baggage delay insurance: Reimburses you for essential purchases like toiletries and clothing for baggage delays over six hours; up to $100 a day for 3 days.
  • Purchase protection: Covers purchases for 120 days against damage or theft. Coverage is capped at $10,000 per claim and $50,000 per account.

Chase Ink Business Preferred®

If you have significant travel expenses and won’t need travel perks like airport lounge access or free expedited airport security screening, consider Chase Ink Business Preferred®. Your points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®. It isn’t surprising that this business credit card is one of our leading credit cards for real estate agents and top-recommended LLC credit cards.

Ink Business Preferred® Credit Card

?Fit Small Business’s ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card’s rates, fees, rewards, and additional features like insurance.

Maximizing travel rewards at a lower annual fee


Apply Now

On Chase’s Secure Website

Regular APR

16.74% – 21.74% Variable

  • Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That’s $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®
  • 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 Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
  • With Zero Liability you won’t be held responsible for unauthorized charges made with your card or account information.
  • Redeem points for cash back, gift cards, travel and more – your points don’t expire as long as your account is open
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
  • Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
Pros
  • Opportunity to boost the value of reward points
  • Offers cellphone protection and trip cancellation insurance
Cons
  • Doesn’t offer an interest-free financing period
  • Charges an annual fee
  • Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the U.S. and abroad.
  • Cellphone protection: You and the employees named on the phone bill you pay for with your card are covered for up to $600 in theft or damages per claim. You are limited to three claims per 12-month period, with a $100 deductible per claim.
  • Trip cancellation and delay insurance: If your trip is canceled, you can be compensated up to $15,000 for prepaid expenses such as airfare or hotels. If your trip is delayed for 12 hours or more, you can be reimbursed up to $500 for your hotel room, meals, and transportation.
Regular APR

16.74% – 21.74% Variable

Credit Needed

Good, Excellent

  • Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That’s $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®
  • 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 Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
  • With Zero Liability you won’t be held responsible for unauthorized charges made with your card or account information.
  • Redeem points for cash back, gift cards, travel and more – your points don’t expire as long as your account is open
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
  • Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
Pros
  • Opportunity to boost the value of reward points
  • Offers cellphone protection and trip cancellation insurance
Cons
  • Doesn’t offer an interest-free financing period
  • Charges an annual fee
  • Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the U.S. and abroad.
  • Cellphone protection: You and the employees named on the phone bill you pay for with your card are covered for up to $600 in theft or damages per claim. You are limited to three claims per 12-month period, with a $100 deductible per claim.
  • Trip cancellation and delay insurance: If your trip is canceled, you can be compensated up to $15,000 for prepaid expenses such as airfare or hotels. If your trip is delayed for 12 hours or more, you can be reimbursed up to $500 for your hotel room, meals, and transportation.

American Express Business Platinum Card®

American Express Business Platinum Card® is an excellent alternative if you want to enjoy travel perks, such as access to more than 1,300 airport lounges worldwide, and interest-free financing of 0% for purchases eligible for Pay Over Time for the first 12 months after account opening. It’s best for business owners who can pay their balance in full monthly but note that it charges a highly expensive annual fee of $695. Nevertheless, its extensive rewards landed it a spot in our list of the best business credit cards for miles.

The Business Platinum Card® from American Express

?Fit Small Business’s ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card’s rates, fees, rewards, and additional features like insurance.

Gaining access to unrivaled travel rewards and luxury travel perks like airport lounge access


Apply Now

on The Business Platinum Card® from American Express’s secure website.

Intro APR

See Pay Over Time APR

Regular APR

15.74% – 23.74% Variable

Credit Needed

Good, Excellent

  • Welcome Offer: Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
  • Plus, 0% Intro APR for 12 months from the date of the account opening on purchases eligible for Pay Over Time. After that, your APR will be 15.74% to 23.74% based on your credit worthiness and other factors as determined at the time of account opening.
  • Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com, and 1X points for each dollar you spend on eligible purchases.
  • Earn 1.5X points on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
  • Unlock over $1,000 in value per year for statement credits on select purchases with your Card, including up to $400 with Dell Technologies, up to $360 with Indeed, up to $150 with Adobe and up to $120 on wireless telephone purchases. Enrollment required.
  • $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year toward baggage fees and more at one qualifying airline.
  • $189 CLEAR® Credit: Use your Card and get up to $189 back per year on your CLEAR® membership.
  • The American Express Global Lounge Collection® can provide an escape at the airport. With more than 1,400 airport lounges across 140 countries and counting, you have more lounge location options than any other credit card on the market as of 9/2021.
  • $695 Annual Fee.
  • Terms Apply.
Pros
  • Premium travel rewards
  • Free access to more than 1,300 airport lounges worldwide
  • No foreign transaction fees
Cons
  • Balance is due in full monthly
  • High annual fee
  • American Express lounges: Free access to American Express’ network of Centurion lounges located in slightly less than a dozen United States airports.
  • Other airport lounges: Priority Pass Select membership, which gets you free access to more than 1,300 lounges worldwide for you and two guests.
  • Airport screening: Either a $100 statement credit for Global Entry every four years or $85 statement credit for TSA PreCheck® once every 4 1/2 years.
  • Travel credit: Up to $200 annual statement credit toward air travel expenses like baggage fees and inflight food and drink.
  • Rental status: Elite status at a number of car rental agencies.
  • Free Wi-Fi: 10 annual free Gogo inflight Wi-Fi passes.
  • Rebate for redeemed points: 35% points rebate if you book a business or first-class flight, up to 500,000 bonus points per calendar year.
  • Dell statement credit: Up to $400 in statement credits annually for Dell purchases.
Intro APR

See Pay Over Time APR

Regular APR

15.74% – 23.74% Variable

Credit Needed

Good, Excellent

  • Welcome Offer: Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
  • Plus, 0% Intro APR for 12 months from the date of the account opening on purchases eligible for Pay Over Time. After that, your APR will be 15.74% to 23.74% based on your credit worthiness and other factors as determined at the time of account opening.
  • Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com, and 1X points for each dollar you spend on eligible purchases.
  • Earn 1.5X points on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
  • Unlock over $1,000 in value per year for statement credits on select purchases with your Card, including up to $400 with Dell Technologies, up to $360 with Indeed, up to $150 with Adobe and up to $120 on wireless telephone purchases. Enrollment required.
  • $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year toward baggage fees and more at one qualifying airline.
  • $189 CLEAR® Credit: Use your Card and get up to $189 back per year on your CLEAR® membership.
  • The American Express Global Lounge Collection® can provide an escape at the airport. With more than 1,400 airport lounges across 140 countries and counting, you have more lounge location options than any other credit card on the market as of 9/2021.
  • $695 Annual Fee.
  • Terms Apply.
Pros
  • Premium travel rewards
  • Free access to more than 1,300 airport lounges worldwide
  • No foreign transaction fees
Cons
  • Balance is due in full monthly
  • High annual fee
  • American Express lounges: Free access to American Express’ network of Centurion lounges located in slightly less than a dozen United States airports.
  • Other airport lounges: Priority Pass Select membership, which gets you free access to more than 1,300 lounges worldwide for you and two guests.
  • Airport screening: Either a $100 statement credit for Global Entry every four years or $85 statement credit for TSA PreCheck® once every 4 1/2 years.
  • Travel credit: Up to $200 annual statement credit toward air travel expenses like baggage fees and inflight food and drink.
  • Rental status: Elite status at a number of car rental agencies.
  • Free Wi-Fi: 10 annual free Gogo inflight Wi-Fi passes.
  • Rebate for redeemed points: 35% points rebate if you book a business or first-class flight, up to 500,000 bonus points per calendar year.
  • Dell statement credit: Up to $400 in statement credits annually for Dell purchases.

Bottom Line

The Southwest Rapid Rewards® Performance Business Credit Card is best for business owners who fly Southwest Airlines frequently and want to enjoy premium travel benefits. To find other business credit cards that may be a better fit, visit our Credit Card Marketplace and our guide to the best small business credit cards.

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