Southwest Rapid Rewards® Premier Business Credit Card Review for 2022
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.
Nancy Fernandez is a Credit Card and Insurance Expert at Fit Small Business, specializing in business credit cards and business insurance.
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 frequent Southwest Airlines flyers. This is 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.
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
18.24% - 25.24% Variable
Annual Fee
$99
Credit Needed
- 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.
Intro APR
N/A
Regular APR
18.24% - 25.24% Variable
Annual Fee
$99
Credit Needed
- 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.
How We Evaluate Travel Rewards Business Credit Cards
When grading 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 that each provides. We also take into account the annual fee, introductory no-interest period, and ongoing annual percentage rates (APRs).
Also, if you prefer another credit card from Chase, check out our review of the best Chase business credit cards.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 18 | 25 |
Introductory Rewards | 25 | 25 |
Additional Features | 20 | 25 |
Annual Fee | 15 | 15 |
Introductory APR | 0 | 5 |
Ongoing APR | 3 | 5 |
Total Score | 83 | 100 |
Who the Southwest Rapid Rewards® Premier Business Credit Card Is Best For
- Business owners who fly Southwest Airlines frequently: The Southwest Rapid Rewards® Premier Business Credit Card offers rewards for purchases made directly with Southwest Airlines that can be redeemed for free flights.
- Business owners who often have checked luggage: This credit card offers free check-in for the first and second bags.
Southwest Rapid Rewards® Premier Business Credit Card Fees
APR
- Introductory APR: None
- Ongoing APR: 18.24% to 25.24% variable, which adjusts with the prime rate
- My Chase LoanSM APR: 18.24% to 25.24% variable, which adjusts with the prime rate
- Balance transfer APR: 18.24% to 25.24%% variable, which adjusts with the prime rate
- Cash advance APR: 27.24% variable, which adjusts with the prime rate
- Default APR: Up to 29.99% variable, which adjusts with the prime rate
Fees
- Annual fee: $99
- Balance transfer fee: $5 or 5% of the amount of each transfer, whichever is greater
- Foreign transaction fee: None
- Cash advance fee: $15 or 5% of the amount of each transaction, whichever is greater
- Minimum Interest Charge: None
- Late payment fees: $40
- Return payment fees: $40
- Return check fees: None
Default APR will apply to your credit card account if you meet at least one of the conditions:
- Failed to make a Minimum Payment by the date and time that it’s due
- Made an unpaid returned payment
Southwest Rapid Rewards® Premier Business Credit Card Rewards
- Earn 3X points per dollar spent on Southwest Airlines® purchases.
- Earn 2X points per dollar spent on Rapid Rewards® hotel and car rental partner purchases.
- Earn 2X points per dollar spent on local transit and commuting, including rideshare services.
- Earn 1X point per dollar spent on all other purchases
- Earn 1X point for every dollar of the first $15,000 of balance transfers made within the first three months after account opening. Note that this offer isn’t available if you change into this card from another Chase card.
- 25% back on inflight purchases and 2 EarlyBird Check-In® every year when you fly with Southwest
- Earn 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
- 6,000 points after each cardmember anniversary
- $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
- Welcome offer: Earn 60,000 points after spending $3,000 on purchases in the first three months your account is open. Note that this bonus offer is available if you don’t have this card and haven’t received a new card
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.
Additionally, you can earn 20,000 bonus points for every referred friend or business that gets approved in getting the Southwest Rapid Rewards® Premier Business Credit Card or any Southwest credit card.
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 mobile app.
- Online: Pay your credit card bills online. Note that 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 Saturdays as Chase will post it on Sunday evening). If you made your payment between 8 p.m. and 11:59 p.m., 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 to process your credit card payments.
- ATM or branch: Pay your credit card bill at any Chase ATM or local branch near you.
- 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
- 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.
Southwest Rapid Rewards® Premier Business Credit Card Features
Bags Fly Free®
When you fly with Southwest Airlines using your Southwest Rapid Rewards® Premier Business Credit Card, you can check in your first and second bags for free after booking via Transfarency®. This feature can help save you hundreds of dollars, especially if you travel often for work and need to check in your luggage.
Southwest® EarlyBird Check-In®
For each anniversary year you earn after using your card, you’ll be reimbursed for the purchase of up to two EarlyBird Check-In® services. Each EarlyBird Check-In® service means a purchase made for EarlyBird Check-In® one-way, per passenger.
Inflight Purchases
You’ll receive 25% back on Southwest Airlines inflight purchases made with your Southwest Rapid Rewards® Premier Business Credit Card for drinks and Wi-Fi through a credit card account statement credit. These statement credits will be posted to your credit card account the same day as your purchases, and these will appear on your monthly credit card billing statement within one to two billing cycles.
Baggage Delay Insurance
If your checked baggage is delayed or misdirected by a carrier for more than six hours, you and your immediate family members are eligible for a benefit of $100 per person per day for up to three days. The coverage is limited to purchases of essential items like clothing, toiletries, and charging cables for cellphones. This insurance doesn’t cover certain items like prosthetics, tickets, documents, cash, jewelry, and electronic equipment.
Lost Luggage Reimbursement
Checked or carry-on luggage that’s lost or damaged while on a flight or traveling on another covered carrier, such as a passenger train, is eligible for reimbursement of up to $3,000 for each covered person. The cardholder and immediate family members are eligible for coverage that includes a $500 maximum benefit for jewelry, watches, cameras, video recorders, and other electronic equipment. Loss of papers, money, or tickets isn’t covered.
Purchase Protection
Chase may repair, replace, or reimburse damaged or stolen items purchased with your Chase business credit card within 120 days of purchase. Coverage is limited to $500 per claim and up to $50,000 per account. Certain items aren’t covered—like animals, living plants, collectibles, motorized vehicles, computer software, jewelry stored in checked baggage, medical equipment, real estate, and items for resale.
Extended Warranty Protection
Chase will extend the original manufacturer’s warranty by an additional year on warranties of three years or less up to a maximum of $10,000 per claim and $50,000 per account. To be eligible, you must have charged a portion of the purchase to your card or used reward points to make the purchase. Some purchases aren’t covered, including motorized vehicles, computer software, medical equipment, rented items, real estate, and items purchased for resale.
Pros & Cons of the Southwest Rapid Rewards® Premier Business Credit Card
| PROS | CONS |
|---|---|
| No blackout dates and unlimited reward seats: You can use your points to book flights with Southwest Airlines and enjoy no blackout dates and unlimited reward seats. | No introductory 0% APR: This is a disadvantage if you plan to finance a large purchase. |
| Low annual fee: You can earn rewards from your purchases and enjoy several travel perks for $99 per year. | Lacks premium Southwest Airlines perks: No upgraded boardings, inflight Wi-Fi credits, and Global Entry or TSA PreCheck® fee credit. |
| No foreign transaction fees: You can use your card to make purchases outside of the United States without having to pay foreign transaction fees. | Limited rewards: The program can be used only for Southwest Airlines-related purchases. |
Southwest Rapid Rewards® Premier Business Credit Card Alternatives
Chase Ink Business Preferred®
The 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. Points are worth 25% more when redeemed for travel through Chase Ultimate Rewards®, making this card one of our top choices this year for the best credit cards for real estate agents, best business credit cards for miles, and best business credit card for travel.
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
18.24% - 23.24% 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
- 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.
Intro APR
N/A
Regular APR
18.24% - 23.24% 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
- 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®
The American Express Business Platinum Card® is a great option if you want to earn premium rewards points on travel and hotel bookings. You can also enjoy travel perks like access to more than 1,300 airport lounges worldwide and airline fee credit. You can redeem a minimum of 5,000 points to book travel on American Express Travel and receive 35% of your points back. It is no surprise then that this is our top pick this year for the best overall business credit card with lounge access and one of our top choices for both best small business credit cards and best business credit card for travel.
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
17.24% - 25.24% 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 annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
- $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year for checked baggage fees, lounge day passes, and more at one selected airline.
- $189 CLEAR® Credit: Use your Card and get up to $189 back per year on your CLEAR® membership. CLEAR® is available at more than 50 U.S. airports and stadiums.
- 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
N/A
Regular APR
17.24% - 25.24% 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 annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
- $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year for checked baggage fees, lounge day passes, and more at one selected airline.
- $189 CLEAR® Credit: Use your Card and get up to $189 back per year on your CLEAR® membership. CLEAR® is available at more than 50 U.S. airports and stadiums.
- 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.
Capital One® Spark® Miles for Business
The 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. This is a great option if you don’t want to keep track of spending categories. This credit card also 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. This makes it our top pick this year for both best business credit card for travel and best business credit card for miles.
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
22.49% (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
22.49% (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.
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—and it allows you to earn rewards that can be redeemed for free flights. If you think this card isn’t right for you, visit our Credit Card Marketplace and check out our guide to the best small business credit cards to find other options.
