Southwest Rapid Rewards® Premier Business Credit Card Review for 2023
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Benilyn has over a decade of experience as a banking officer. Her expertise is featured throughout Fit Small Business in personal finance, credit card, and real estate investing content.
This article is part of a larger series on Best Small Business Credit Cards.
The Southwest Rapid Rewards® Premier Business Credit Card from Chase is designed for business owners who are Southwest Airlines frequent flyers. It’s an excellent travel rewards card if you want to enjoy travel perks like free checked bags and reward flights with no blackout dates. It charges a low annual fee and no foreign transaction fees but doesn’t offer a 0% introductory annual percentage rate (APR).
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® 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.
BEST FOR:
Receiving rewards on Southwest purchases
Intro APR
N/A
Regular APR
20.24% - 27.24% Variable
Annual Fee
$99
Credit Needed
Good - Excellent
- 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 6 hours; up to $100 a day for three 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.
Intro APR
N/A
Regular APR
20.24% - 27.24% Variable
Annual Fee
$99
Credit Needed
Good - Excellent
- 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 6 hours; up to $100 a day for three 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.
How We Evaluate Travel Rewards Business Credit Cards
When evaluating travel rewards business credit cards like the Southwest Rapid Rewards® Premier Business Credit Card, we first consider the ongoing rewards, introductory rewards, and additional features. We also consider the annual fee and introductory ongoing APRs.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 15 | 25 |
Introductory Rewards | 25 | 25 |
Additional Features | 20 | 25 |
Annual Fee | 15 | 15 |
Introductory APR | 0 | 5 |
Ongoing APR | 3 | 5 |
Total Score | 78 | 100 |
Who the Southwest Rapid Rewards® Premier Business Credit Card Is Best For
- Business owners who fly with Southwest Airlines frequently: It offers premium rewards on purchases made directly with Southwest Airlines, and rewards can be redeemed for free flights.
- Business owners who often have checked luggage: You can take advantage of free check-in for the first and second bags.
If this card isn’t what you’re looking for, check out our recommended alternatives below.
Southwest Rapid Rewards® Premier Business Credit Card Fees
APR
- Introductory APR: None
- Ongoing APR on purchases and balance transfers: 20.24% to 27.24% variable, which adjusts with the prime rate
- My Chase LoanSM APR: 20.24% to 27.24% variable, which adjusts with the prime rate
- Cash advance APR: 29.24% variable, which adjusts with the prime rate
- Default APR: Up to 29.99% variable, which adjusts with the prime rate; will be applied to your account when you do one of the following:
- Failed to make a minimum payment by the date and time that it’s due
- Made a payment that was returned
Fees
- Annual: $99
- Balance transfer: $5 or 5% of the amount of each transfer, whichever is greater
- Foreign transaction: None
- Cash advance: $15 or 5% of the amount of each transaction, whichever is greater
- Minimum interest charge: None
- Late payment: $40
- Return payment: $40
- Return check: None
How To Make Payments in the Southwest Rapid Rewards® Premier Business Credit Card
- Chase Mobile® App: You can manage and schedule your credit card payments through the Chase iOS or Android app.
- Online: Pay your credit card bills online
- If you made your payment before 8 p.m. Eastern time, your payment will be credited and posted within the same day, with the exception of Saturday, as Chase will post it on Sunday evening.
- If you paid between 8 p.m. and 11:59 p.m. ET, your payment may be credited within the same day, but this will be posted the next day, with the exception of Friday, as Chase will post it on Sunday evening.
- Automated phone service: Either 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 near you.
- Mail: Send a check or money order with your name and account number to:
Cardmember Services
PO Box 6294
Carol Stream, IL 60197-6294
- Western Union: Should you wish to pay your credit card bills through Western Union, use the Code City WALNUT. Note that it may take up to seven days for the payment to be reflected in your account.
Southwest Rapid Rewards® Premier Business Credit Card Rewards
- 60,000 bonus points after spending $3,000 on purchases in the first three months of opening an account
- 3x points per dollar spent directly on Southwest Airlines® purchases
- 2x points per dollar spent on Rapid Rewards® hotel and car rental partners as well as on local transit and commuting, including rideshare services
- 1x points per dollar spent on all other purchases
- 6,000 bonus points every year on your membership anniversary
- 1,500 tier qualifying points (TQPs) toward A-List status after spending $10,000, with no limit on the amount of TQPs you can earn
- $500 fee statement credit as reimbursement for fees associated with using your card to transfer points to another Rapid Rewards® member or a preselected charity chosen by Southwest with an active Rapid Rewards® account
- 25% back on inflight purchases
- 2x EarlyBird Check-In® every year when you fly with Southwest Airlines
You can redeem your points for an available seat on any Southwest Airlines flight. The number of points needed for a flight depends on the fare and will vary based on your destination, schedule of travel, demand, and fare type. You’ll be responsible for paying all taxes and fees levied by the government on plane tickets.
Southwest Rapid Rewards® Premier Business Credit Card Additional Features
Travel
- Bags Fly Free®: When you pay for your Southwest Airlines ticket with this card, you can check in your first and second bags for free.
- Southwest® EarlyBird Check-In®: Each anniversary year, you’ll be reimbursed for the purchase of up to two EarlyBird Check-In® services. Each service means a purchase made for EarlyBird Check-In® one-way, per passenger.
- Savings on Inflight Purchases: Through a credit card account statement credit, receive 25% back on Southwest Airlines inflight purchases for drinks and Wi-Fi.
Protection Coverage
- Baggage delay insurance: This coverage provides monetary benefits if your checked baggage is delayed or misdirected by a carrier for more than six hours. Check your customer agreement for more information.
- Lost luggage reimbursement: Checked or carry-on luggage that’s lost or damaged while on a flight or traveling with another covered carrier, such as a passenger train, is eligible for reimbursement. Check your customer agreement for more information.
- Purchase protection: Chase may repair, replace, or reimburse damaged or stolen items purchased with your Chase business credit card. Coverage is limited to a maximum of $500 per claim and up to $50,000 per account.
- Extended warranty protection: Chase will extend the original manufacturer’s warranty by an additional year on warranties of three years or fewer, up to a maximum of $10,000 per claim and $50,000 per account.
Southwest Rapid Rewards® Premier Business Credit Card Alternatives
Chase Ink Business Preferred®
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.
BEST FOR:
Maximizing travel rewards at a lower annual fee
Intro APR
N/A
Regular APR
20.24% - 25.24% Variable
Annual Fee
$95
Credit Needed
- 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
- Reward points are worth 25% more when you redeem for travel through the Chase Ultimate Rewards® card
- Comprehensive travel and purchase protection
- No foreign transaction fees
Cons
- No interst-free financing option on both purchases and balance transfers
- With annual fee
- Need to make extremely large purchases to qualify for the sign-up bonus
- Cellphone protection: Get up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees listed on your monthly cellphone bill
- Purchase protection: Can cover your new purchases for 120 days against damage or theft of up to $10,000 per claim and $50,000 per account
- Extended warranty protection: You can extend the period of the US manufacturer’s warranty by an additional year, on eligible warranties of three years or less.
- Fraud monitoring: Chase will help keep your accounts safe with account alerts – and you can choose how you’d like to receive them
- Free employee cards: You can create employee cards at no additional cost, and lets you set individual spending limits―helping you earn rewards even faster
Intro APR
N/A
Regular APR
20.24% - 25.24% Variable
Annual Fee
$95
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
- Reward points are worth 25% more when you redeem for travel through the Chase Ultimate Rewards® card
- Comprehensive travel and purchase protection
- No foreign transaction fees
Cons
- No interst-free financing option on both purchases and balance transfers
- With annual fee
- Need to make extremely large purchases to qualify for the sign-up bonus
- Cellphone protection: Get up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees listed on your monthly cellphone bill
- Purchase protection: Can cover your new purchases for 120 days against damage or theft of up to $10,000 per claim and $50,000 per account
- Extended warranty protection: You can extend the period of the US manufacturer’s warranty by an additional year, on eligible warranties of three years or less.
- Fraud monitoring: Chase will help keep your accounts safe with account alerts – and you can choose how you’d like to receive them
- Free employee cards: You can create employee cards at no additional cost, and lets you set individual spending limits―helping you earn rewards even faster
- Chase Ink Business Preferred® is an excellent alternative if you have significant travel expenses but don’t need travel perks like airport lounge access or free expedited airport security screening
- Offers 3x points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year, then 1x points per $1 thereafter
- Has points that are worth 25% more when redeemed for travel through Chase Ultimate Rewards®
- Comes with no foreign transaction fees and a low annual fee of $95
- Is one of our recommendations for the best business credit card for travel and best credit cards for real estate agents
American Express Business Platinum Card®
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.
BEST FOR:
Gaining access to unrivaled travel rewards and luxury travel perks like airport lounge access
Intro APR
N/A
Regular APR
18.74% - 26.74% Variable
Annual Fee
$695
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.
- 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 (that’s an extra half point per dollar) 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, including tech, recruiting and wireless with the Business Platinum Card.
- $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Card or any of the Additional Cards on your Platinum Card account.
- $189 CLEAR® Credit: CLEAR® uses biometrics to assign you a touchless ID, allowing you to move faster through security at select airports and stadiums across the U.S. You can cover the cost of a CLEAR membership with up to $189 in statement credits per calendar year after you pay for CLEAR with your Business Platinum Card®.
- 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 an $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
N/A
Regular APR
18.74% - 26.74% Variable
Annual Fee
$695
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.
- 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 (that’s an extra half point per dollar) 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, including tech, recruiting and wireless with the Business Platinum Card.
- $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Card or any of the Additional Cards on your Platinum Card account.
- $189 CLEAR® Credit: CLEAR® uses biometrics to assign you a touchless ID, allowing you to move faster through security at select airports and stadiums across the U.S. You can cover the cost of a CLEAR membership with up to $189 in statement credits per calendar year after you pay for CLEAR with your Business Platinum Card®.
- 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 an $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.
- American Express Business Platinum Card® is a great option if you want to earn premium rewards points on travel and hotel bookings
- Offers luxury travel perks like access to more than 1,300 airport lounges worldwide and airline fee credit
- Allows you to redeem a minimum of 5,000 points to book with American Express Travel and receive 35% of your points back
- Comes with no foreign transaction fees
- Is our best business credit card with lounge access and one of our leading small business credit cards and business cards with no foreign transaction fees
Capital One® Spark® Miles for Business
Capital One® Spark® Miles for Business
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.
BEST FOR:
Unlimited 2x miles with every swipe
Intro APR
N/A
Regular APR
25.24% (Variable)
Annual Fee
$0 intro for first year; $95 after that
Credit Needed
Excellent, Good
- Introductory reward worth $500 in travel after you spend $4,500 within the first three months
- 2x miles per $1 spent
- Issue employee cards for free
Pros
- No foreign transaction fees
- TSA PreCheck® or Global Entry application fee credit
Cons
- You’ll pay an annual fee after the first year
- Doesn’t offer interest-free financing
- Airport security screening reimbursement: Either a $100 statement credit for Global Entry or an $85 statement credit for TSA PreCheck® once every four years.
- Purchase assurance: Most purchases made entirely with your card are covered if damaged or stolen within 90 days from the date of purchase. Coverage is limited to $10,000 per claim and $50,000 per cardholder account per 12-month period.
- Extended warranty coverage: Doubles the original warranty time period and duplicates the coverage of the original manufacturer’s warranty up to a maximum of 12 months on most items you purchase.
- Travel medical emergency assistance: Provide referrals to medical services if you have a medical emergency while traveling. You’re covered if you’re 100 or more miles away from home and from the day you leave until midnight of the 60th day of your trip, or the day you return to your city of residence, whichever is sooner.
Intro APR
N/A
Regular APR
25.24% (Variable)
Annual Fee
$0 intro for first year; $95 after that
Credit Needed
Excellent, Good
- Introductory reward worth $500 in travel after you spend $4,500 within the first three months
- 2x miles per $1 spent
- Issue employee cards for free
Pros
- No foreign transaction fees
- TSA PreCheck® or Global Entry application fee credit
Cons
- You’ll pay an annual fee after the first year
- Doesn’t offer interest-free financing
- Airport security screening reimbursement: Either a $100 statement credit for Global Entry or an $85 statement credit for TSA PreCheck® once every four years.
- Purchase assurance: Most purchases made entirely with your card are covered if damaged or stolen within 90 days from the date of purchase. Coverage is limited to $10,000 per claim and $50,000 per cardholder account per 12-month period.
- Extended warranty coverage: Doubles the original warranty time period and duplicates the coverage of the original manufacturer’s warranty up to a maximum of 12 months on most items you purchase.
- Travel medical emergency assistance: Provide referrals to medical services if you have a medical emergency while traveling. You’re covered if you’re 100 or more miles away from home and from the day you leave until midnight of the 60th day of your trip, or the day you return to your city of residence, whichever is sooner.
- Capital One® Spark® Miles for Business is a good alternative if you want a travel credit card that offers unlimited, fixed-rate rewards on all business-related purchases without you having to keep track of spending categories
- Offers 2x miles per $1 spent on all eligible purchases
- Allows you to transfer miles to any of its travel partners and redeem rewards for new travel reservations and past travel purchases made within 90 days
- Has no foreign transaction fee and a low annual fee of $95, which is waived for the first year
- Is our best business credit card for miles
If you want more options, visit our Credit Card Marketplace and see our roundup of the best small business credit cards. If you prefer another credit card from Chase, check out our review of the best Chase business credit cards.
Bottom Line
The Southwest Rapid Rewards® Premier Business Credit Card is best for business owners who travel with Southwest Airlines frequently and want to enjoy travel perks. You can even earn rewards that can be redeemed for free flights. It’s important to note that it doesn’t offer a 0% introductory APR period.
