Southwest Rapid Rewards® Premier Business Credit Card
The Southwest Rapid Rewards Premier Business credit card from Chase offers a serious 60,000 points sign-up bonus. Since Southwest flights are incredibly flexible and Rapid Rewards points are worth at least 1.58 cents each, this sign-up bonus is valued at about $750. Even better is that the sign-up bonus counts toward the 110,000 points needed to earn the Southwest Companion Pass, which is one of the best deals in domestic travel.
The Southwest Premier Business card isn’t the best option for everyday spending because it earns only one point per dollar for most purchases (Southwest purchases get two points per dollar). Nevertheless, it might be a good card to keep beyond the first year for the ability to earn Southwest points when needed. Since it offers 6,000 Rapid Rewards points every time you renew your card, your annual fee is essentially covered anyway!
Bonuses and Benefits
Knowing what benefits come with a credit card can help you decide if it’s a good fit for you. Here we cover the bonuses and perks that the Southwest Rapid Rewards® Premier Business Credit Card offers and the value of the Chase Rapid Rewards® points you earn.
Currently, the sign-up bonus for the Southwest Business card is 60,000 points after spending $3,000 within your first three months as a cardholder. What’s really spectacular about this sign-up bonus is that it counts toward the 110,000 points needed to earn Southwest’s Companion Pass. However, it doesn’t count toward A-List elite status. In addition to the sign-up bonus, you’ll be awarded 6,000 points each year when you renew your card.
What You Get
- Earn 60,000 points after you spend $3,000 on purchases in the first 3 months
- Get 6,000 point anniversary bonus when you renew your card
- 2 points per dollar with Southwest
Southwest points won’t expire as long as your credit card account is open. If you decide to close your account, the regular Southwest expiration policy will apply. Southwest points expire after 24 months with no account activity.
What is the value of the Rapid Rewards® Points?
Southwest Rapid Rewards points are considerably less variable in value than most airline rewards points. This is because the cost of an award flight is more or less tied to the cash price of the ticket. As a general rule, you will get around 1.58 cents per point in value out of your Southwest points if you redeem for Wanna Get Away Fares.
If you redeem for Business Select or Anytime fares, you will get a lower value for your points. Keep in mind, Southwest doesn’t really offer a business class; rather, if you pay for the Business Select fare, you will get to board the plane first, which gives you first choice of seats.
What is CPM and How Is It Calculated?
Cents Per Mile (CPM) is a way to measure the value of miles. It tells you how many cents you get for each mile you redeem by dividing the cash price of the airline ticket (minus taxes and fees charged for an award ticket) by the number of miles the award flight costs. This is a somewhat subjective calculation because the price of the flight in both cash and miles fluctuates by season and availability.
How we calculate CPM:
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The Best Ways to Redeem Sauthwest Points
The best way to redeem your Southwest Rapid Rewards points is for Wanna Get Away fares. The number of points required will depend on the cost of a ticket, so reward pricing will vary based on day of the week, time of the year, destination, fare class and other factors.
The best way to make sure you are getting a good price for your flight is to look at Southwest’s Low Fare Calendar, which is on their website. Additionally, you should keep an eye out for Southwest sales because you could save even more. If you already booked a flight, you can even cancel your ticket and rebook it for the lower price!
Los Angeles–HoustonEconomy class
Miles price19,328points+$11.2 fee
Miles price27,154points+$11.2 fee
San Francisco–ChicagoEconomy class
Miles price25,440points+$11.2 fee
Montego Bay–ChicagoEconomy class
Miles price33,896points+$95.11 fee
Punta Cana–AtlantaEconomy class
Miles price36,328points+$104.66 fee
Miles price6,624points+$72.06 fee
Miles price118,724points+$11.2 fee
Fort Lauderdale–PittsburghBusiness class
Miles price98,184points+$11.2 fee
Washington–San AntonioBusiness class
Miles price125,200points+$11.2 fee
Cancun–Fort LauderdaleBusiness class
Miles price89,040points+$77.55 fee
Belize City–DenverBusiness class
Miles price104,880points+$73.81 fee
Miles price90,720points+$92.43 fee
Other ways you can redeem points
Hotel Stays10 partners10 part.
Southwest partners with over 70,000 hotels worldwide, ranging from big chains to boutique hotels.
Car Rental8 partners8 part.
Hit the road on your next trip by redeeming Rapid Rewards points for car rentals.
Gift Cards4 partners4 part.
You can use your Southwest Points to redeem for gift cards with a number of partners.
It is not possible to redeem Rapid Rewards points for cash back.
With the Southwest Business card, you’ll earn two Rapid Rewards points per dollar spent on purchases with Southwest Airlines and one point per dollar spent on all other purchases. You’ll also earn 6,000 points each year on your card member anniversary.
Your Monthly Charges
Rewards You Will Earn Annually30,000points$474in dollar value
- Car Rental
- Southwest purchases
- All Other Purchases
The following transactions do not earn points: balance transfers, cash advances, travelers checks, foreign currency, money orders, wire transfers or similar cash-like transactions; lottery tickets, casino gaming chips, race track wagers or similar betting transactions; overdraft advances; interest; unauthorized or fraudulent charges; and fees of any kind, including the annual fee.
Southwest offers some great travel benefits even if you don’t have one of their credit cards, like two free checked bags on every itinerary and no change fees.
$0 Change Fee
You can make changes to your itinerary without paying a change fee anytime you fly on Southwest, even if you don’t carry their credit card.
No Foreign Transaction Fees
There are no foreign transaction fees added to purchases made abroad with your Southwest Business card.
Free Checked Bag
First and second checked bags are free for all Southwest flyers.
Earn Southwest’s Companion Pass
The Southwest Premier Business credit card can’t help you earn A-List status, but it can help you earn the Southwest Companion Pass. The Southwest Companion Pass requires 110,000 eligible Rapid Rewards points to be earned in one year. The sign-up bonus from the Southwest Business card as well as the points earned from regular spending count toward earning the Southwest Companion Pass.
The Companion Pass allows a companion to fly with you on any itinerary for only the cost of taxes for the rest of the year in which you earned the pass and the entire following year. For example, if you earn the Companion Pass in October 2017, you’ll have it for the rest of 2017 and all of 2018.
- Earn 60,000 points toward the Companion Pass with just the sign-up bonus
- Every point you earn with the Southwest card also counts toward the Companion Pass
Fees: the cost of Having the Card
The Southwest Premier Business card has an annual fee of $99. Assuming points are worth 1.58 cents each, you’ll have to spend just $6,266 on the card a year to cover the cost. Remember, though, that you’ll also earn 6,000 bonus points every year when you renew your card. That’s worth about $95 alone! So you really don’t have to spend much of anything in order to cover the annual fee.
Since the sign-up bonus is 60,000 points, you’ll be more than covered for the first year, even if you don’t spend anything else on the card after completing the minimum spending requirements for the bonus.
- Annual Fee:
- Balance Transfer Fee:
Either $5 or 5% of the amount of each transfer, whichever is greater
- Late Payment Fee:
- $15 if the balance is less than $100; $29 if the balance is $100 or more, but less than $250; and $39 if the balance is $250 or more
- Foreign Transaction Fee:
See What It Takes to Cover an Annual Fee:
Your Average Monthly Spend
Months to Cover Annual Fee
Get anniversary bonus: 6,000 points
You will receive 6,000 bonus points each anniversary year – enough to cover more than a half of the annual fee.
We strongly recommend to spend not less than $2,089 per months to cover the annual fee in three months.
We’ve broken out our estimates for the first- and second-year net earnings you’ll get with the Southwest Rapid Rewards Premier Business credit card. Is the card worth getting, and should you keep it after you get the sign-up bonus? Let’s find out.
These estimates are based on an annual monthly spend of $2,000
Foreign Transaction Fees-$0
Rewards Earned First Year$1,288
Foreign Transaction Fees-$0
Rewards Earned Second Year$435
Top 5 Benefits of the Southwest Rapid Rewards Premier Business Credit Card
The Southwest Premier Business credit card is an especially good option for those of you interested in earning the Southwest Companion Pass since the points earned on the card count toward the pass. Here are the top five benefits of the Southwest Business credit card:
- Big Sign-Up Bonus: This card comes with a huge sign-up bonus of 60,000 points. That’s worth $750 or more in travel!
- Points Earned Count Toward the Companion Pass: The sign-up bonus and points earned from regular spending both count toward the 110,000 points required to earn a Southwest Companion Pass, which is one of the best deals available for domestic travel.
- 6,000-Point Anniversary Bonus: Every year you renew your Southwest Premier Business credit card, you’ll get 6,000 bonus Rapid Rewards points, which essentially covers the cost of the annual fee.
- Bonus Points on Southwest Flights: You’ll earn 2 points per dollar spent on Southwest flights.
- No Foreign Transaction Fees: You won’t pay extra when using this card abroad because there are no foreign transaction fees.
Should You Get the Southwest Rapid Rewards Premier Business Credit Card?
The Southwest Business credit card has an amazing 60,000-point sign-up bonus. That alone is a great reason to get the card. The $99 annual fee is not waived for the first year, but you will be given 6,000 points each year when you renew your card. This anniversary bonus nearly covers the annual fee without spending on the card at all.
What the card is really great for is helping you earn the Southwest Companion Pass. The 60,000-point sign-up bonus and all regular spending will count toward the 110,000 points per year that you need to earn the companion pass. It’s pretty amazing that with just one credit card sign-up you can get more than half way there!
The Southwest Business card isn’t the best option for everyday spending, but it’s not a bad option if you need to purchase Southwest flights.
Need more info? Check out our frequently asked questions. If you have other questions, please click on “Ask Now” below.
You’ll likely need good to excellent credit in order to be approved for the Southwest Business credit card. Most approved applicants indicate that they had a credit score of 720 or higher. Keep in mind that a high credit score is not a guarantee of approval, and a low credit score is not a guarantee that you won’t be approved.
Yes, you do need a business to get a business credit card, but you’ll be surprised at what counts as having a business! Anything you do that generates revenue counts as a business. So if you sell things on eBay every once in a while or have a yearly garage sale, you can get a business credit card. Just be honest on your application–it’s okay if your business doesn’t make much money.
This is one of the highest sign-up bonuses we have ever seen for this card, so if you’re thinking about applying, now is the time! The bonus has typically been 50,000 points after completing minimum spending requirements.
Yes, you can use your Rapid Rewards points to book travel for anyone you want. You don’t need to be traveling on the same itinerary in order to use points for someone else. If you end up getting the Southwest Companion Pass, you will need to travel on the itinerary in order for someone to be your companion.
The number of free flights you can get from the sign-up bonus depends on what flights you want to redeem for. Southwest approximately ties the number of points required for a flight to its cash price. If you redeem for cheaper flights, you’ll be able to fly more than if you redeem for more expensive flights.
The sign-up bonus could get you anywhere from 24 really cheap one-way flights or only one really expensive flight. Most people will be able to book two or three roundtrips with 60,000 points.
Compare Rapid Rewards Cards
Other Southwest cards
Before you decide to get the Southwest Premier Business credit card, let’s take a look at another card that earns Southwest points: the Southwest Rapid Rewards Plus credit card.
|Southwest Rapid Rewards® Plus Credit Card||Southwest Rapid Rewards® Premier Credit Card|
|60,000 points||60,000 points||40,000 points|
APR On Purchases
|16.99% to 23.99% Variable±||16.99% to 23.99% Variable±||16.99% to 23.99% Variable±|
Second Year Value
At 60,000 points, the sign-up bonus for the Southwest Plus card is a little lower than the Premier Business card, but it also has a lower annual fee. The annual fee for the Plus card is $69 and you’ll be given 3,000 bonus points each time you renew.
The 3,000-point bonus falls a little bit short of covering the annual fee, so as a general rule, it would make more sense to get the Southwest Premier Business card instead of the Southwest Plus card. However, you could use the sign-up bonus on the Plus card as a way to tip you over the edge to earning the Companion Pass, particularly if you also get the sign-up bonus on the Southwest Premier Business card!
Compare the Southwest Rapid Rewards Premier Business Credit Card to Other Cards
Let’s also compare the Southwest Premier Business card to a couple of other travel rewards cards, including the Frontier Airlines MasterCard, the Spirit Airlines MasterCard and the Venture Rewards card. All of these cards offer the ability to earn rewards that can be used for travel, but they’re all a little bit different.
First off, each of the co-branded airline cards can only be used for flight redemptions on that airline. The Venture Rewards credit card is more flexible since it allows redemptions for any type of travel, including flights on any airline, hotels, car rentals and more.
The Frontier credit card offers a 40,000-point sign-up bonus, which is worth about $440 in travel on Frontier Airlines. The Spirit credit card offers a 15,000-point sign-up bonus, which is worth about $100 in travel on Spirit Airlines. The Venture card offers a 40,000-point sign-up bonus which is worth about $400 toward nearly any travel redemption you would like to make. The Southwest card’s bonus is worth notably more at about $750.
When choosing between the three airline cards, you should consider the airlines that are most likely to have the flight timing, price and destinations you want to fly to. If you’re looking for something more flexible, the Venture card is a good option.
Whenever you apply for a credit card make sure you read the terms and conditions of the card and the rewards program to find out about minimum spend requirements and any restrictions to ensure you can successfully obtain the card and earn the rewards it offers.
Excellent credit score
IssuerJPMorgan Chase & Co.
Pay with pointsNo
Available airlineSouthwest Airlines
Loyalty ProgramRapid Rewards®
Flights TypeDomestic and International
AllianceNot a member
Card Terms and Conditions
While it's easy to focus on the rewards offered by the Southwest Rapid Rewards Premier Business credit card, it's worth taking a closer look at the terms and conditions. There's a lot to consider as you think about how you're going to use the card. Will you carry a balance, get a cash advance or maybe make a big purchase? Below is a rundown of the various interest rates, purchase protections, security features and mobile banking options that come with this Visa card.
- Intro APR:
- See Terms and Conditions
- Intro APR for balance transfers:
- See Terms and Conditions
- Ongoing APR:
- 16.99% to 23.99% Variable±
- Minimum Grace Period:
- 20 days
- Extended Warranty Protection:
- Extends the time period of a U.S. manufacturer's warranty by an additional year if the warranty is for three years or less.
- Purchase Protection:
- Covers your new purchases for 120 days against damage or theft for up to $10,000 per claim and $50,000 per account.
Cash Advance Features
- Ongoing APR:
- 25.99% Variable±
- Cash Advance Fee:
- Either $15 or 5% of the amount of each transaction, whichever is greater
Security and Protections
The Southwest Airlines Premier Business card offers standard security features, including:
- Account alerts:
- Set up alerts to be notified when large transactions occur, if there’s an unauthorized withdrawal and when your bill’s due.
- Employee Cards:
- Set individual spending limits, track spending and earn rewards even faster.
- Mobile App:
- Track your account with the mobile app while you’re on the go.
- EMV Chip + Signature Technology:
- Get global acceptance and enhanced security at merchants that use chip enabled terminals.
Chase, Southwest’s card issuer, offers a mobile banking app so you can monitor your account activity and spending while you’re on the go. The Southwest Business credit card is compatible with Apple Pay, Android Pay and Samsung Pay.
Additional Cardholder Benefits
Visa Signature Travel Benefits
- Auto Rental Collision Damage Waiver:
- Coverage for theft and collision for most rentals in the U.S. and abroad when you are traveling for business purposes. Coverage is primary, meaning that you do not first need to make a claim to your personal auto insurance.
- Baggage Delay Insurance:
- Reimbursement for essentials, such as toiletries and clothing, if bags are delayed over 6 hours. Get up to $100 a day for 3 days.
- Lost Luggage Reimbursement:
- Get up to $3,000 per passenger for damaged or lost bags. Coverage includes cardholder and immediate family members on the same travel itinerary.
- Roadside Dispatch:
- Call 1-800-847-2869 for roadside assistance, including lockout service, towing, jumpstart and gas delivery. Service charges apply.
- Travel Accident Insurance:
- Receive accidental death or dismemberment coverage of up to $500,000 for any air, bus, train or cruise ship transportation paid for with your card.
- Travel and Emergency Assistance Services:
- Legal and medical referrals, and other travel and emergency assistance is available any time of day. Service charges apply.