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Southwest Rapid Rewards Performance Business Credit Card Review

Last updated: July 11,2023
Originally Published: November 06,2021
by Jestan Mendame

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Chase and Southwest Airlines have a solid lineup of co-branded cards but the Southwest Rapid Rewards Performance Business Credit Card is one that stands out from the rest. While it may have the highest annual fee, the card’s benefits such as numerous travel perks, huge bonuses, and the highly coveted Southwest Companion Pass, greatly outweigh its price.

Southwest Performance Business Credit Card

The Southwest Airlines Rapid Rewards(R) Performance Business Credit Card can also fast-track your way to A-list status where you’ll get more travel benefits from Southwest such as priority boarding and check-in and bonus points on qualifying flights. It’s the perfect card for frequent flyers and business owners.

Read More: Is The Chase New World Of Hyatt Business Credit Card For You?

Key Features: Southwest Rapid Rewards Performance Business Credit Card

  • Get 80,000 Rapid Rewards points after spending $5,000 within the first 3 months of card membership
  • Earn 4x points on Southwest purchases, 3x points on Rapid Rewards hotel and car rental partners, 2x points on local transit and commuting, 2x points on social media, search engine advertising, internet, cable, and phone services, then 1x points on all other purchases
  • 9,000 bonus points every card membership anniversary
  • Bonus qualifying points to earn a Southwest Companion Pass faster
  • Comes with a status boost to fast-track your way to A-list status
  • Southwest Airlines travel perks like upgraded boarding and in-flight Wi-Fi credits
  • Application fee credit for Global Entry or TSA PreCheck (every four years)
  • Travel protection benefits such as car rental insurance, roadside assistance, and more
  • No foreign transaction fees

80,000-Point Welcome Bonus

New cardholders of the Southwest Airlines Rapid Rewards(R) Performance Business Credit Card will get 80,000 Rapid Rewards points after spending $5,000 within three months of account opening.

Take note that Rapid Rewards points are valued at around 1.2 cents apiece so if you do the math, the Southwest Performance business card bonus is worth $960.

You can even get more value for your points if you transfer them to a Chase credit card that earns Chase Ultimate Rewards points like the Chase Sapphire Preferred, Chase Sapphire Reserve, and Chase Ink Business Preferred.

The main advantage of converting your points from Rapid Rewards to Ultimate Rewards is that there’s a 1:1 transfer ratio between these currencies. It means you’ll get the same exact amount of points after conversion but you now have Ultimate Rewards points which are one of the most valuable credit card currencies in the market. You’ll have lots of redeemable awards on the Chase Ultimate Rewards portal.

Earning Points On Your Card

If you’re a business owner who travels a lot, then you’re in for a treat because the Southwest Rapid Rewards Performance Business credit card earns solid rates for various travel and business spending categories.

Here’s what you can earn:

  • 4 points per $1 on Southwest purchases such as Airline tickets, Southwest gift cards, Southwest Vacations packages, and in-flight purchases
  • 3 points per $1 on hotel and car rental purchases from eligible Southwest partners
  • 2 points per $1 on local transit and commuting
  • 2 points per $1 for social media and search engine advertising. Purchases must be made directly through the platforms (Facebook, Instagram, Goodle, and Bing) and not through third-party advertisers
  • 2 points per $1 for internet, cable, and phone services (equipment purchases are not included)
  • 1 point per $1 spent on all other purchases

The Performance Business card comes with free employee cards which also earn points towards the primary cardholder. You can still set spending limits on the employee cards by calling customer service.

9,000-Point Anniversary Bonus

Active cardholders will get 9,000 bonus points every account anniversary. You don’t have to do anything, just make sure you use your card and pay your annual fees. You can redeem these points towards award flights at 1.2 cents apiece which is worth $108, or better yet, convert them to Chase Ultimate Rewards points and get more award options.

In a sense, the 9,000-point anniversary bonus is paying more than half of your annual fees. You’re practically spending $91 per year for a business card with premium travel and business perks.

Earn Your Southwest Companion Pass Faster

The Performance Business Card gives cardholders a 25,000-point headstart in earning the Southwest Airlines Companion Pass this 2021. Typically, you’ll need to earn at least 125,000 points in a calendar year to become eligible for the Companion Pass.

Just remember that there are specific types of activities that only count towards a Companion Pass (see image below).

Southwest Rapid Rewards Performance Business Credit Card

The Companion Pass is the card’s main selling point because it allows you to bring a travel companion with you for one whole year, on both regular and award flights, FOR FREE!

Take note that you still need to pay taxes and other airline fees. Additionally, you can travel with different people because the card allows you to change your travel companion up to three times per year.

Reach A-List Status Faster With Status Boost

Cardholders will get 1,500 Tier-Qualifying Points or TQPs for every $10,000 spent (up to 15,000 TQPs per year). Typically, cardholders need to earn 35,000 TQPs in a calendar year to get A-list status or earn 70,000 TQPs in a calendar year to get A-list Preferred status.

Here are the benefits of getting elite status:

  • A-list Status -Priority boarding, 25% bonus points on qualifying flights, priority check-in and security lane access, same-day standby, and a dedicate A-list member phone line.
  • A-list Preferred Status – Priority boarding, 100% bonus points on qualifying flights, in-flight WIFI, priority check-in and security lane access, same-day standby, and a dedicate A-list member phone line.

Upgraded Boarding & Wifi Credits

Cardholders will now get priority boarding since the card comes with four upgraded boardings per year. However, it comes in the form of statement credits so you need to pay for the upgrades first, then you’ll be reimbursed by the end of the year.

Additionally, cardholders will also get a maximum of 365 Wi-Fi credits per year. Each credit applies to one device only but you can use multiple credits within a flight if you want to use your phone, laptop, and other digital devices at the same time.

The Wi-Fi credit is worth $8 each since that’s the price Southwest Airlines typically charge per device for regular paying customers.

Global Entry Or TSA Pre-Check Credits

Whenever you apply for a Global Entry or TSA Pre-Check Membership using the Performance Business credit card, you’ll get a reimbursement that will reflect as a statement credit in your account. This perk is given to cardholders every four years.

For those who aren’t familiar, Global Entry gives inbound flyers faster clearance at US immigration lanes while TSA Pre-Check gives outbound and domestic flyers fast clearance at US security lanes.

Here are the key differences:

  • TSA PreCheck – You’ll get faster screening process at security points and you don’t have to remove items from your body and carry-on luggage such as belts, laptops, phones, shoes, and etc.
  • Global Entry – You don’t need to present paperwork upon arrival and you don’t have to go through processing lines and remove items from your body or carry-on luggage. Global Entry also includes TSA PreCheck membership.

Regardless if you travel abroad or not, it’s recommended that you get a Global Entry membership because it already includes all the benefits of TSA PreCheck. And for non-US citizens, now is the best time to get one because the US will open its borders to vaccinated foreigners starting November 8, 2021.

Travel Protection and Insurance

Just like any travel credit card, the Southwest Rapid Rewards performance business credit card also comes with basic travel protection and insurance benefits.

  • Car Rental Insurance – Get primary car rental insurance that covers damage and theft as long as you use your card to purchase the car rental service.
  • Lost Luggage Reimbursement – A reimbursement of up to $3,000 per passenger for lost and damaged bags.
  • Baggage Delay Insurance – A reimbursement of up to $100 per day (maximum three days) for bags that are delayed for 6 hours or more.
  • Travel and Emergency Assistance – Call the emergency hotline and they will connect you to the right services based on your need.
  • Travel Accident Insurance – Provides up to $500,000 in death or dismemberment coverage.
  • Roadside Dispatch – Call the emergency hotline and they will refer you to local service providers for tire changes, towing, fuel delivery, and more.
  • Purchase Protection – Get up to $10,000 per claim for items that have been damaged or stolen withi 120 of purchases.
  • Extended Warranty Protection – Extends manufacturer warranties by one more year for eligible companies that have a warranty of three years or less.

Business Traveler At Airport southwest rapid rewards performance business credit card
Image courtesy of Canva Pro

Who Can Benefit From The Card The Most?

Small to medium-sized business owners who frequently fly Southwest can benefit from the Southwest Rapid Rewards Performance Business credit card the most.

The card comes with an 80,000-point welcome bonus and a 9,000-point annual bonus which immediately gives you at least $1,000 worth of travel. Not to mention, there are also Global Entry and TSA PreCheck statement credits that are worth up to $100. As a frequent flyer, you’ll practically get solid travel perks that are worth more than the cost of the $199 annual fee.

On the business side of things, the spending categories include a lot of business expenses that can help you rack up a lot of Rapid Rewards points and at the same time, earn you a Companion Pass a lot faster.

SRR Performance Business Card VS SRR Premier Business Card

There are only two business cards in the Chase-Southwest co-branded lineup and these are Southwest Airlines Rapid Rewards(R) Performance Business Credit Card and the Southwest Airlines Rapid Rewards Premier Business Credit Card.

The latter is the low-tier version of the Performance business card which comes with a 60,000-point welcome bonus after 3 months of card membership and a cheaper annual fee of $99.

Here are the rewards for the Premier business card:

  • 3X points on Southwest Airlines purchases
  • 2X points on Rapid Rewards hotel and car partners
  • 2X points on rideshare
  • 1 point per $1 spent on all other purchases

The Premier business card is mainly for businesses that have low spending, particularly startups or side-income businesses.

Read More: Southwest Rapid Rewards Priority Card Review – 100k Bonus (October 2021)

Thoughts From Points Panda

Overall, the Southwest Rapid Rewards Performance Business credit card is a no-brainer for small business owners and frequent Southwest flyers.

With or without a credit card, you’re practically spending thousands of dollars every year so why not earn rewards for every dollar you spend? The Companion Pass is practically worth thousands of dollars if you’re able to use it multiple times per year.

Advertiser Disclosure

  • Earn 75,000 Bonus miles after you spend $4,000 on purchases in the first 3 months from account opening.
  • Earn 2X miles on everyday spend.
  • Earn 10X miles on hotels and car rentals, and 5x on flights booked on Capital One Travel
  • Receive 10,000 bonus miles every account opening anniversary.
  • Get a $300 credit to use on Capital One Travel each year.
  • Unlimited Access to Capital One Lounges and Priority Pass lounges internationally.
  • $395 annual fee.
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