Southwest Rapid Rewards® Performance 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.
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.
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, select 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® 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.
BEST FOR:
Those who fly Southwest Airlines frequently
Intro APR
N/A
Regular APR
20.74% - 27.74% Variable
Annual Fee
$199
Credit Needed
Good - Excellent
- 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
- Offers the best rewards for Southwest purchases as compared to other Southwest cards
- Doesn’t charge foreign transaction fees
- With sign-up bonus
Cons
- Charge high annual fees
- No interest-free financing period on purchases and balance transfers
- Baggage daily insurance: You’ve covered with baggage daily insurance if your checked luggage is delayed or misdirected by a carrier for more than six hours.
- Auto rental collision damage waiver: You can decline the rental company’s collision insurance and charge the entire rental cost to your card.
- Lost baggage reimbursement: If you or a family member have checked or carry-on luggage that’s lost or damaged by the carrier, you’re covered up to $3,000 per passenger.
- Employee cards: Earn more points on your employee spending by issuing additional cards at no additional cost.
Intro APR
N/A
Regular APR
20.74% - 27.74% Variable
Annual Fee
$199
Credit Needed
Good - Excellent
- 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
- Offers the best rewards for Southwest purchases as compared to other Southwest cards
- Doesn’t charge foreign transaction fees
- With sign-up bonus
Cons
- Charge high annual fees
- No interest-free financing period on purchases and balance transfers
- Baggage daily insurance: You’ve covered with baggage daily insurance if your checked luggage is delayed or misdirected by a carrier for more than six hours.
- Auto rental collision damage waiver: You can decline the rental company’s collision insurance and charge the entire rental cost to your card.
- Lost baggage reimbursement: If you or a family member have checked or carry-on luggage that’s lost or damaged by the carrier, you’re covered up to $3,000 per passenger.
- Employee cards: Earn more points on your employee spending by issuing additional cards at no additional cost.
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).
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 20 | 25 |
Introductory Rewards | 25 | 25 |
Additional Features | 25 | 25 |
Annual Fee | 7 | 15 |
Introductory APR | 0 | 5 |
Ongoing APR | 0 | 5 |
Total Score | 77 | 100 |
Who the Southwest Rapid Rewards® Performance Business Credit Card Is Best For
- Those 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.
- Those 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 around the country.
Check out our recommended alternatives below if this card doesn’t fit the bill.
Southwest Rapid Rewards® Performance Business Credit Card Fees
APR
- Introductory: None
- Ongoing, My Chase LoanSM, and Balance transfer: 20.74% to 27.74% variable—adjusts with the prime rate
- Cash advance: 29.74% variable—adjusts with the prime rate
- Default: Up to 29.99% variable—adjusts with the prime rate; will be applied indefinitely to your account if at least one condition is met:
- You failed to make a minimum payment by the date and time it’s due.
- You made a returned payment.
Fees
- Minimum interest charge: None
- Annual: $199
- My Chase PlanSM: Monthly fee of 1.72% of either the amount of each eligible transaction or the amount selected to create a My Chase Plan
- Balance transfer: Either $5 or 5% of the amount of each transfer, whichever is greater
- Cash advance: Either $15 or 5% of the amount of each transaction, whichever is greater
- Foreign transaction: None
- Late and return payment: $40
- Return check: None
Your due date is at least 20 days after the close of each billing cycle.
Southwest Rapid Rewards® Performance Business Credit Card Rewards
Points rewards
- 80,000 points after spending $5,000 on purchases within the first three months of opening an account.
- 4X points for every dollar spent directly on Southwest Airlines®, including flights, in-flight purchases, Southwest gift cards, and Southwest Vacations package purchases
- 3X points per dollar spent with Rapid Rewards hotel and car rental partners
- 2X 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
- 1X point on all other purchases
- 9,000 bonus points on each account anniversary
Additional rewards
- Four upgraded boardings per year when available
- 1,500 tier qualifying points for every $10,000 spent, which can be used to apply for Rapid Rewards A-List or A-List Preferred status
- $500 fee credit for points transfers per year
- Up to $100 in statement credit every four years as reimbursement for the application fee for Global Entry, TSA PreCheck®, or NEXUS
- Up to 365 Inflight Wi-Fi credits per year
- Up to 100,000 bonus points per year for every referral who gets any Southwest Rapid Rewards Credit Card when using the link
Your earned points can be redeemed as gift cards, merchandise, hotel stays, experiential rewards, and Rapid Rewards Access Events. In addition, you can enjoy Companion Pass®, which allows you to choose one person to fly with you, free of airline charges, whenever you purchase or redeem points for a flight. However, earned points will appear in your Rapid Rewards account up to 30 days after your statement cycle date.
How To Make Payments on the Southwest Rapid Rewards® Performance Business Credit Card
- Online or Chase Mobile® app: Go to chase.com/paycard to make a payment online. You can also enroll in automatic payments through the website or mobile app, which is available for iOS and Android users. When you enroll, specify the deposit account from which your payment will be deducted and how much you’d like to pay, such as your statement balance, minimum payment due, or any fixed amount.
- Phone: Call the automated phone service at (800) 436-7958.
- Mail or money order: Include your name and full account number on your check or money order—don’t send cash. Mail your payment to the following address:
Cardmember Services
PO Box 6294
Carol Stream, IL 60197-6294.
- Via Western Union: Use the Code City WALNUT when paying via Western Union. It may take up to seven days for the payment to be reflected in your account.
- In-person: Go to the nearest Chase ATM or branch.
Southwest Rapid Rewards® Performance Business Credit Card Features
Travel Insurance
- Baggage delay insurance: You’re covered by this 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.
- Purchase protection: This covers new purchases for 120 days against damage or theft. Get coverage of up to $10,000 per claim and $50,000 per account.
- Extended warranty protection: This extends the warranty to up to one additional year on warranties of three years or less.
- Travel accident insurance: When you use this card to pay for your air, bus, train, or cruise fare, you’re eligible for accidental death or dismemberment coverage of up to $500,000.
- Lost baggage reimbursement: If you or a family member have checked or carry-on luggage that’s lost or damaged by the carrier, you’re covered up to $3,000 per passenger.
Travel Protection
- Auto rental collision damage waiver: You can decline the rental company’s collision insurance and charge the entire rental cost to your card. Take note that coverage will take into effect when you rent a vehicle for business purchases and can provide reimbursement of up to the actual cash value of the vehicle for theft and collision damage.
- Roadside dispatch: Call (800) 847-2869 anytime to dispatch the help you need, from a tow or jumpstart to a tire change, lockout service, winching, or gas delivery. Take note that roadside service fees will be provided via call and be billed to your card.
Account Management
- Travel and emergency assistance services: Call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance.
- Employee cards: Earn more points on your employee spending by issuing additional cards at no additional cost.
Southwest Rapid® Rewards Performance Business Credit Card Alternatives
Capital One® Spark® Miles Select for Business
Capital One® Spark® Miles Select 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:
Travel rewards and annual spending less than $19,000
Intro APR
0% on purchases
Regular APR
18.74% to 28.74% (Variable)
Annual Fee
$0
Credit Needed
Excellent, Good
- Introductory reward worth $200 in travel after you spend $3,000 within the first three months
- 1.5x miles per $1 spent
- 5x miles on hotel and rental car bookings through the issuer
- Issue employee cards for free
Pros
- No foreign transaction fees
- Interest-free financing on purchases
Cons
- No 0% APR balance transfer offer
- Limited list of airline partners
- 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
0% on purchases
Regular APR
18.74% to 28.74% (Variable)
Annual Fee
$0
Credit Needed
Excellent, Good
- Introductory reward worth $200 in travel after you spend $3,000 within the first three months
- 1.5x miles per $1 spent
- 5x miles on hotel and rental car bookings through the issuer
- Issue employee cards for free
Pros
- No foreign transaction fees
- Interest-free financing on purchases
Cons
- No 0% APR balance transfer offer
- Limited list of airline partners
- 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 Select for Business is an excellent alternative if you want to earn miles on all purchases regardless of spending categories
- Lets you earn unlimited 1.5x miles on all purchases, with no blackouts or seat restrictions and no minimum miles to redeem
- Has a 0% introductory APR on purchases for the first 9 billing cycles
- Doesn’t charge annual and foreign transaction fees
- Is our best business credit card for travel and one of our preferred business credit cards for miles
Bank of America Business Advantage Travel Rewards World Mastercard®
Bank of America® Business Advantage Travel Rewards World Mastercard® 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:
Earning top rewards on travel purchases booked through Bank of America Travel Center
Intro APR
See Terms
9 billing cycles
9 billing cycles
Regular APR
See Terms
Annual Fee
$0.00
Credit Needed
Excellent
- Earn 30,000 online bonus points after you make at least $3,000 in purchases in the first 90 days of your account opening which can be redeemed for a $300 statement credit towards travel or dining purchases.
- Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time - no matter how much you spend.
- No limit to the amount of points you can earn and points don't expire.
- You can earn up to 75% more points on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to an unlimited 2.62 points per $1 spent on all purchases.
- No annual fee and no international transaction fees.
- Choose how to redeem points - for a statement credit to offset travel and dining purchases, travel with no blackout dates at the Bank of America® Travel Center, for cash back or gift cards.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.
Pros
- No annual fee: By not having to pay an annual fee, you can reduce your overall credit card cost while earning unlimited rewards on your expenses.
- No blackout dates on travel: You can redeem your points for travel or travel credits through the Bank of America® Travel Center anytime, with no blackout dates.
- 3x points on travel: You can earn 3x points for every dollar spent when you book your travel (car, hotel, or airline) through the Bank of America® Travel Center.
- Welcome bonus points: If you can spend $3,000 in net purchases within 90 days of opening an account, you will earn 30,000 bonus points.
Cons
- Low ongoing rewards on nontravel: While you can earn high rewards points on travel, you can only earn 1.5x points on all other purchases.
- Short 0% APR introductory period: This is a disadvantage if you need a longer 0% APR period.
- No 0% APR on balance transfers: The introductory APR only applies to purchases
- Bank of America doesn’t disclose details of its additional card features. To find out more about these additional features, review your guide to benefits when you receive your card in the mail.
Intro APR
See Terms
9 billing cycles
9 billing cycles
Regular APR
See Terms
Annual Fee
$0.00
Credit Needed
Excellent
- Earn 30,000 online bonus points after you make at least $3,000 in purchases in the first 90 days of your account opening which can be redeemed for a $300 statement credit towards travel or dining purchases.
- Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time - no matter how much you spend.
- No limit to the amount of points you can earn and points don't expire.
- You can earn up to 75% more points on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to an unlimited 2.62 points per $1 spent on all purchases.
- No annual fee and no international transaction fees.
- Choose how to redeem points - for a statement credit to offset travel and dining purchases, travel with no blackout dates at the Bank of America® Travel Center, for cash back or gift cards.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.
Pros
- No annual fee: By not having to pay an annual fee, you can reduce your overall credit card cost while earning unlimited rewards on your expenses.
- No blackout dates on travel: You can redeem your points for travel or travel credits through the Bank of America® Travel Center anytime, with no blackout dates.
- 3x points on travel: You can earn 3x points for every dollar spent when you book your travel (car, hotel, or airline) through the Bank of America® Travel Center.
- Welcome bonus points: If you can spend $3,000 in net purchases within 90 days of opening an account, you will earn 30,000 bonus points.
Cons
- Low ongoing rewards on nontravel: While you can earn high rewards points on travel, you can only earn 1.5x points on all other purchases.
- Short 0% APR introductory period: This is a disadvantage if you need a longer 0% APR period.
- No 0% APR on balance transfers: The introductory APR only applies to purchases
- Bank of America doesn’t disclose details of its additional card features. To find out more about these additional features, review your guide to benefits when you receive your card in the mail.
- Bank of America Business Advantage Travel Rewards World Mastercard is a viable option if you want an interest-free financing period and no annual and foreign transaction fees
- Lets you earn 3x points for every dollar spent when booking a rental car, hotel stay, or airfare through the Bank of America® Travel Center and unlimited 1.5x points for every dollar spent on all other purchases
- Is one of our recommended business credit cards for travel
Southwest Rapid Rewards® Premier 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.
BEST FOR:
Receiving rewards on Southwest purchases
Intro APR
N/A
Regular APR
20.74% - 27.74% 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
20.74% - 27.74% 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.
- Southwest Rapid Rewards® Premier Business Credit Card is a great alternative if you want a Southwest co-branded card with a low annual fee and no foreign transaction fees
- Charges an annual fee of $99
- Offers baggage delay insurance, lost luggage reimbursement, purchase protection, and extended warranty protection
- Lets you earn 3x points per dollar spent on Southwest Airlines® purchases, 2x points per dollar spent on Rapid Rewards® hotel and car rentals and local transit and commuting, and 1x point per dollar spent on all other purchases
For more options, see our guides on the best Chase business credit cards and best small business credit cards.
Bottom Line
Southwest Rapid Rewards® Performance Business Credit Card is best for business owners who fly with Southwest Airlines frequently and want to enjoy premium travel benefits. It offers numerous points rewards and travel protection despite its high annual cost of $199. Take note, however, that reward redemption value is poor outside of Southwest flights.
