The newest Southwest business card is offering a large sign-up bonus, travel benefits and the highest earning rate of any Southwest credit card.
Editor’s Note: This offer expired on Oct. 16, 2019.
Chase has launched a new Rapid Rewards card aimed at small business owners – the Southwest Rapid Rewards® Performance Business Credit Card. The newest Southwest co-branded card offers a unique opportunity to earn more Rapid Rewards points, thanks to bonus categories around common business purchases. Unfortunately, it comes with a high price tag – a $199 annual fee. This makes the latest Southwest credit card the most expensive offering.
While all other Southwest cards only offer more than 1 point per dollar on Southwest purchases, the new Performance card will reward social media and search engine advertising, internet and cable and phone services. Cardholders will also enjoy the following benefits:
Generous sign-up bonus
New Performance Business cardholders can earn 80,000 points after spending $5,000 on purchases in the first three months. While this is a relatively high spend threshold to reach, the bonus can put you three quarters of the way toward the Southwest Companion Pass – which allows you to designate a friend to bring on any Southwest flight you buy for just the cost of taxes and fees.
Rewarding earning scheme
The Southwest Performance Business card comes with the highest earning rate available on a Southwest card. Users will earn 3 points per dollar on Southwest purchases, 2 points per dollar on social media and search engine advertising, internet and cable and phone purchases and 1 point per dollar on all other purchases. For small business owners who spend a significant amount in these categories, the new Performance card offers great potential value.
Anniversary bonus points
Each year on their account anniversary, Performance Business cardholders will earn 9,000 bonus points. We estimate this is worth around $144 in airfare when redeemed for a Wanna Get Away ticket.
The Performance Business card also comes with a few travel perks that can take some of the stress out of your next trip. Cardholders get four upgraded boardings per year (when available) and in-flight Wi-Fi credits.
Credit for Global Entry/TSA PreCheck
The Rapid Rewards Performance Business card will be the first Southwest card to offer a statement credit for Global Entry or TSA PreCheck. Cardholders who apply for one of these programs can receive up to $100 to cover the application fee.
Free employee cards
Small business owners can also earn Rapid Rewards points on their employee spending, thanks to employee cards at no additional cost.
Though the new Performance Business card is charging the highest annual fee of any Southwest card, its more extensive rewards rate, higher anniversary bonus and travel benefits set it off from the pack. Small business owners who frequently travel on Southwest can likely get great value out of the new product.
Should you sign up for the Rapid Rewards Performance Business card now?
The 80,000-point sign-up bonus on the Performance Business card doesn’t have a designated end-date, but based on the bonus history of other Southwest credit cards, we predict it won’t be around forever. If you are chasing the Southwest Companion Pass, this large influx of points can help you get there faster.
For small business owners eager to earn Southwest points on everyday spending, the new card also offers a unique earning scheme. If your business spends a significant amount on social media and search engine advertising, internet or cable and phone services, the bonus categories on this card can boost its rewards potential.