How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.Our take: If you’re a business owner who flies frequently with Southwest and looking for the most premium card, the Southwest® Rapid Rewards® Performance Business Credit Card is likely a good option. For a $199 annual fee, you get a great rewards rate, sign-up bonus and benefits.
The Southwest® Rapid Rewards® Performance Business Credit Card is worth it for business owners who frequently travel with Southwest because of its several Southwest-specific and travel benefits.
It offers a generous sign-up bonus with points that can help you earn the Southwest Companion Pass. It also offers accelerated rewards earnings in popular business spending categories, such as internet, cable and phone services.
Plus, you can get more value with its four upgraded boardings every year when available, Global Entry/TSA Precheck/NEXUS fee credit, 9,000 anniversary points each year and more. If you’re a frequent business traveler on Southwest, the Southwest® Rapid Rewards® Performance Business Credit Card could be worth the $199 annual fee.
Intro Purchase APR
N/A
Regular Purchase APR
20.99% - 27.99% Variable
Intro BT APR
N/A
Regular BT APR
20.99% - 27.99% Variable
Annual Fee
$199
Cash Advance Fee
Either $15 or 5% of the amount of each transaction, whichever is greater.
Foreign Transaction Fee
$0
Balance Transfer Fee
Either $5 or 5% of the amount of each balance transfer, whichever is greater.
Generous sign-up bonus
The Southwest® Rapid Rewards® Performance Business Credit Card currently offers a very generous sign-up bonus: Earn 80,000 points after you spend $5,000 on purchases in the first 3 months from account opening.
That’s the highest sign-up bonus among co-branded Southwest credit cards. If you have a business trip coming up and you’ll use the card’s other benefits — the Southwest® Rapid Rewards® Performance Business Credit Card could be valuable. Note that these points count toward earning the Southwest Companion Pass (more on that below).
Valuable rewards rate
Along with the sign-up bonus, the Southwest® Rapid Rewards® Performance Business Credit Card offers rewards on everything you buy: Earn 4 points per $1 spent on Southwest® purchases. Earn 3 points per $1 spent on Rapid Rewards® hotel and car rental partners. Earn 2 points per $1 spent on local transit and commuting, including rideshare. Earn 2 points per $1 spent on social media and search engine advertising, internet, cable, and phone services. Earn 1 point per $1 spent on all other purchases.
This is the highest rewards rate you can get among Southwest cards. This card can potentially pay off the most if you use it for Southwest flights, given it’s outstanding earning rate on that category.
Large anniversary bonus
Cardholders receive 9,000 bonus points each year on their cardmember anniversary. The card a tier below the Southwest® Rapid Rewards® Performance Business Credit Card, the Southwest® Rapid Rewards® Premier Business Credit Card, only offers 6,000 bonus anniversary points.
This bonus is worth around $126 in airfare by our estimates, so can cover a large part of the annual fee each year.
4 upgraded boardings per year
When available, you can enjoy four upgraded boardings per year. This can be worth $30 to $80 per customer, per segment, depending on the flight.
Wi-Fi credits
You can receive 365 $8 in-flight Wi-Fi credits with the Southwest® Rapid Rewards® Performance Business Credit Card as statement credits.
Global Entry/TSA PreCheck/Nexus credit
You’ll receive a statement credit of up to $100 every four years for either Global Entry/TSA Precheck. This is a great perk that can cover up much of the card’s $199 annual fee if you’re already paying for this benefit.
Elite status boost
You can earn 1,500 tier qualifying points (TQPs) toward A-List status for every $10,000 spent in purchases annually — with no limit on the amount of TQPs you can earn. A-List status comes with perks including:
Earn the Southwest companion pass
The points earned from your Southwest® Rapid Rewards® Performance Business Credit Card count toward the coveted Southwest Companion Pass, which allows a designated person to fly with you for free (except taxes and fees) each time you purchase or redeem points for a Southwest flight for up to two years. To qualify for the Companion Pass, you must earn 135,000 points or take 100 one-way flights in a calendar year.
Your sign-up bonus also contributes to the points requirement for the Companion Pass. Plus, if you combine your points with a sign-up bonus from a Southwest consumer card, you can earn all the points you need in a year.
Annual fee
At $199, the Southwest® Rapid Rewards® Performance Business Credit Card’s annual fee is on the high side — especially when compared with the annual fees of the other consumer Southwest Rapid Rewards cards. However, when compared to the annual fees of some premium business credit cards — which can be as high as $595 — this card’s fee appears much more reasonable.
If you use the perks like the Global Entry/TSA PreCheck/Nexus fee credit and upgraded boardings, you can more than make up for the annual fee.
Spend threshold required to earn bonus
The Southwest® Rapid Rewards® Performance Business Credit Card’s generous sign-up bonus comes at a high price. Cardholders will have to spend an average of $1,667 in charges each month for three months to meet the required spend for the bulk of the bonus.
If that’s a normal amount that your business spends, then you won’t have to worry about the spending threshold. But if you would have to spend more than normal to meet the requirement, then you may want to settle on another Southwest credit card.
Limited flight locations
Because Southwest Airlines flies to a limited number of destinations, it may not be the most convenient airline for your travel needs. But keep in mind that Southwest adds new flight destinations from time to time. For example, it added select destinations to Hawaii in March 2019. To see where Southwest Airlines flies, visit their route search tool here.
Rewards aren't very flexible
The most valuable way to use your Southwest points is on Southwest flights. Unlike general business travel cards, like The Business Platinum Card® from American Express, the Southwest® Rapid Rewards® Performance Business Credit Card doesn’t have a wide variety of hotel and airline transfer partners.
Outside of Southwest flights, you can redeem points for some merchandise, international flights operated by other airlines, hotel stays, gift cards and rental cars.
Southwest’s business card portfolio also includes the Southwest® Rapid Rewards® Premier Business Credit Card. Both cards offer bonus points on Southwest Airlines purchases. However, the Southwest® Rapid Rewards® Premier Business Credit Card has a lower annual fee ($99), anniversary bonus (6,000 miles) and sign-up bonus. You’ll earn 60,000 points after you spend $3,000 on purchases in the first 3 months your account is open.
Keep in mind, though, that you will be required to spend much less in the first three months to earn the Southwest® Rapid Rewards® Premier Business Credit Card‘s sign-up bonus.
For ongoing rewards, the Southwest® Rapid Rewards® Premier Business Credit Card offers the following: Earn 3 points per $1 spent on Southwest® purchases. Earn 2 points per $1 spent on Rapid Rewards® hotel and car rental partners. Earn 2 points per $1 spent on local transit and commuting, including rideshare. Earn 1 point per $1 spent on all other purchases.
If your business travels only occasionally with Southwest, this might be a better fit than the Southwest® Rapid Rewards® Performance Business Credit Card. It has less benefits, but can still provide value for a lower annual fee.
The Delta SkyMiles® Gold Business American Express Card is a valuable rewards card for business owners who frequently fly with Delta. It has a great welcome offer, variety of Delta benefits and solid rewards rate on restaurants and U.S. supermarkets. It also comes with a $0 introductory annual fee for the first year, then $150.
You can earn 2 miles per dollar spent on purchases at U.S. Shipping providers and at U.S. providers for Advertising in select media on up to $50,000 of eligible purchases per category, per year. Earn 2 Miles on every dollar spent on eligible purchases made directly with Delta and on every eligible dollar spent at restaurants. Earn 1 Mile on every eligible dollar spent on other purchases.
With this card, you also have the option of redeeming award flights with Delta partners, which include mostly international airlines. So if you fly mostly with Delta or you’re looking for a bit more flight flexibility, then the Delta SkyMiles® Gold Business American Express Card could be a better choice.
The Ink Business Preferred® Credit Card is a business travel credit card that isn’t tied to any specific hotel or airline brand. You can transfer your points to any of Chase’s transfer partners — including Southwest — and often boost the value of your points.
One of the best features of this card is its sign-up bonus: Earn 90,000 bonus points after you spend $8,000 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®.
That alone could more than make up for the $95 annual fee, depending on how you redeem it. If you’re a Southwest loyalist, the Southwest® Rapid Rewards® Performance Business Credit Card could make more sense for you. But the Ink Business Preferred® Credit Card is better if you’re looking for a bigger sign-up bonus and more points flexibility.
| Credit Cards | Our Ratings | Welcome Offer | Annual Fee | Rewards Rate | Recommended Credit Credit scores ranges may vary. Your individual chance at approval may vary due to factors such as creditors using a particular variation at their discretion | |
|---|---|---|---|---|---|---|
Southwest® Rapid Rewards® Performance Business Credit Card
 Apply Now
on Chase's secure site |
Earn 80,000 points after you spend $5,000 on purchases in the first 3 months from account opening. | $199 | Earn 4 points per $1 spent on Southwest® purchases. Earn 3 points per $1 spent on Rapid Rewards® hotel and car rental partners. Earn 2 points per $1 spent on local transit and commuting, including rideshare. Earn 2 points per $1 spent on social media and search engine advertising, internet, cable, and phone services. Earn 1 point per $1 spent on all other purchases. | Excellent |
Apply Now
on Chase's secure site |
|
Southwest® Rapid Rewards® Premier Business Credit Card
Apply Now
on Chase's secure site |
Earn 60,000 points after you spend $3,000 on purchases in the first 3 months your account is open. | $99 | Earn 3 points per $1 spent on Southwest® purchases. Earn 2 points per $1 spent on Rapid Rewards® hotel and car rental partners. Earn 2 points per $1 spent on local transit and commuting, including rideshare. Earn 1 point per $1 spent on all other purchases. | Excellent |
Apply Now
on Chase's secure site |
|
|
Delta SkyMiles® Gold Business American Express Card
|
Earn 90,000 Bonus Miles after spending $6,000 in purchases on your new Card in your first 6 months of Card Membership. Offer Ends 10/23/24. | $0 introductory annual fee for the first year, then $150 | Earn 2 miles per dollar spent on purchases at U.S. Shipping providers and at U.S. providers for Advertising in select media on up to $50,000 of eligible purchases per category, per year. Earn 2 Miles on every dollar spent on eligible purchases made directly with Delta and on every eligible dollar spent at restaurants. Earn 1 Mile on every eligible dollar spent on other purchases. | Good / Excellent | ||
Ink Business Preferred® Credit Card
Apply Now
on Chase's secure site |
Earn 90,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. | $95 | Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases-with no limit to the amount you can earn. | Excellent |
Apply Now
on Chase's secure site |
If you’re a Southwest loyalist who wants to earn the most amount of points in a short period of time, the Southwest® Rapid Rewards® Performance Business Credit Card is the best choice. If your business is able to meet the required minimum spending to earn the sign-up bonus, you’ll earn a large number of points that can help you earn the Southwest Companion Pass.
But if your goal is to get a Southwest business card but spend less money upfront, the Southwest® Rapid Rewards® Premier Business Credit Card could be a better fit.
Apply Now
To see rates & fees for American Express cards mentioned on this page, visit the links provided below:
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.
