Southwest Rapid Rewards® Performance Business Credit Card®

Southwest Rapid Rewards® Performance Business Credit Card®: interest rates, available limits, cashback and bonuses. Full conditions for obtaining a credit card online. The procedure for registration and receipt online or at a bank branch. Features.


About the Southwest Rapid Rewards Performance Business Credit Card

Southwest Rapid Rewards Performance Business Credit Card is one of Chase's premium credit cards for small businesses. Although it charges a relatively high annual fee of $199, there are enough perks to make this initial cost seem negligible. In addition, this credit card will welcome you with a substantial bonus and will provide you with reward-earning options and many other services, such as benefits for flying Southwest. 

The Southwest Rapid Rewards Performance Business Credit Card features

In the first place, Southwest Rapid Rewards Performance Business Credit Card will offer you a welcome offer of 80,000 points for spending over $5,000 on purchases during the first three months of account opening. Additionally, this credit card provides you with anniversary bonus points. Each year you will receive 9,000 bonus points on your account anniversary.

Besides, you will earn rewards according to the standard rates with this credit card, which are: 

  • 4 points = 1 dollar you spend on Southwest purchases, including flight, inflight, and Southwest gift card;

  • 3 points = 1 dollar you spend on Rapid Rewards hotel and car rental partners;

  • 2 points = 1 dollar you spend on local transit and commuting purchases, including rideshare, passenger trains, tolls, taxis, buses, and parking lots and garages;

  • 2 points = 1 dollar you spend on Social media and search engine advertising; 

  • 2 points = 1 dollar you spend on the internet, cable, phone, and other office services;

  • 1 point = 1 dollar you spend on all other purchases. 

Besides earning Rapid Rewards points, you can also spend to become eligible for the  Southwest A-List elite status. In that case, you’ll earn 1,500 Tier-Qualifying Points for each $10,000 in purchases, for up to $100,000 in purchases annually.

Moreover, the points redemption is relatively simple. The redemption rate is solely based on the flight’s price, and there are no blackout dates. Therefore, if you redeem points for Southwest flights probably, you will be provided with the best value for your points. Also, you may redeem points for gift cards, merchandise, experiences, hotels, and travel through the MoreRewards program. This way, the redemption rate for gift cards will be around 1 cent or 0.5 cents per point.

Moreover, rewards are not the only benefit of this credit card. With this credit card, you can receive four upgraded boardings each year and a statement credit for Global Entry, TSA Precheck, or Nexus. Also, it will have such perks as in-flight Wi-Fi passes. For example, for Southwest Wi-Fi purchases, you will get up to 365 $8 statement credits per year.

The Southwest Rapid Rewards Performance Business Credit Card comes without an intro APR offer, so from the beginning, you will be charged a standard variable APR of 18.99% - 25.99%. Moreover, you will be charged a balance transfer fee of $5 or 5% of each balance transfer and a cash advance fee of $15 or 5% of each transaction. The annual fee is also pretty high - $199 - but there are no foreign transaction fees. 

In addition, Southwest Rapid Rewards Performance Business Credit Card offers you such perks as: 

  • Companion Pass;

  • Car rental insurance;

  • Roadside dispatch;

  • Purchase protection;

  • Lost luggage reimbursement;

  • Baggage delay insurance;

  • Travel and emergency assistance;

  • Travel accident insurance.

Pros and cons

The most significant strong sides of the Southwest Rapid Rewards Performance Business Credit Card are:  

  • A welcome bonus;

  • No foreign transaction fee;

  • Earn A-list status faster;

  • 9,000 points on your cardmember anniversary;

  • Pretty generous cash-back rates;

  • Many redemption options;

  • Some travel perks are offered.

Nevertheless, you need to note some drawbacks of this credit card: 

  • The base rewards rate is only 1 point per $1;

  • The cash advance fees are relatively high - $15 or 5%;

  • Balance transfer fees are relatively high - $5 or 5%;

  • The annual fee is $195;

  • Good/excellent credit is required;

  • The variable APR is relatively high;

  • No intro APR offer.

How to apply for a Southwest Rapid Rewards Performance Business Credit Card 

To apply for a Southwest Rapid Rewards Performance Business Credit Card, you must go to the Chase website and the Southwest Rapid Rewards Performance Business Credit Card section. On that page, you will be offered to “Sign in to apply faster” or “Apply as a guest.” You will be redirected to the online application webpage if you select the second option. On that page, you will need to enter such information as: 

  • Personal info: first name, middle name, last name, suffix, date of birth, mother's maiden name, tax ID type, social security number, address type, street address, zip code, city, state, email address, phone number, type of residence, employment status, total gross annual income.  

Afterward, you can choose whether to receive paperless statements or add an authorized user. Below, you will see the pricing information that contains all fees and rates. You must read that and put a tick in the box if you have read and agree with the above. Finally, you need to click on the “Submit” button.

Am I eligible for a Southwest Rapid Rewards Performance Business Credit Card? To qualify for the Southwest Rapid Rewards Performance Business Credit Card, you must complete the online application and have a good/excellent credit score of over 720 points.
Can I add an additional credit card for my employee? Yes, you can. Moreover, you can do it for free without additional cost or limit. Your employees' cards will have equal spending limits and charging privileges. Furthermore, you will earn points on employee spending, including selected categories.   
Are increased cash back earning rates capped at any amount? No, there are no limits for the increased cash back on selected categories. You can earn points as much as you want. However, you’ll can 1,500 Tier-Qualifying Points for each $10,000 in purchases, but for up to $100,000 in purchases annually.

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05.12.2022
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Last update 27.12.2022