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Yes! Southwest does have credit cards for business owners as well. Southwest offers two co-branded business credit cards – the Southwest® Rapid Rewards® Premier Business Credit Card and the Southwest® Rapid Rewards® Performance Business Credit Card. The Southwest® Rapid Rewards® Premier Business Credit Card comes with an annual fee of $99. If you are a business owner who frequently flies with Southwest Airlines, then this card might be a valuable addition to your wallet.
This card comes with a good signup bonus;
You can earn 60,000 points after you spend $3,000 on purchases in the first 3 months your account is open.
According to our evaluation, Rapid Reward points are worth 1.5 cents on average. So, these 60,000 points would be worth $900. However, there are other great benefits that come with this card, like a companion pass, anniversary bonus, etc. In this article, we are gonna talk about all the pros and cons of this card so you can make an informed decision about whether this card is for you are not.
Southwest® Rapid Rewards® Premier Business Credit Card Overview
- Earn 60,000 points after you spend $3,000 on purchases in the first 3 months your account is open.
- 6,000 points every year on your Cardmember anniversary.
- Earn 3X points for every $1 spent on Southwest Airlines purchases.
- Earn 2X points on local transit and commuting, including rideshare services.
- Earn 2 points per $1 spent on Rapid Rewards hotel and car rental partner purchases.
- Earn 1X points on all other Purchases.
- No foreign transaction fee.
- You will also get 2 EarlyBird Check-In® each year.
- Member FDIC
Pros And Cons
Pros
- Solid welcome bonus
- 6,000 Anniversary points
- other perks like companion pass
Cons
- $99 annual fee
- Rewards have limited redemption options
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Southwest Airlines do not have any airline partner
Welcome Bonus
The Southwest® Rapid Rewards® Premier Business Credit Card comes with a solid welcome bonus; you can earn 60,000 points after you spend $3,000 on purchases in the first 3 months your account is open. As I have mentioned, Rapid Reward points are worth 1.5 cents on average. So, these 60,000 points would be worth $900.
But remember, this welcome bonus doesn’t apply to:
- Current Cardmembers of this business credit card
- Previous card members of this business credit card who received a new card member bonus for this business credit card within the last 24 months.
The Rapid Rewards points can be redeemed for gift cards, flights, hotels, cruises, and more. Also, there is no expiration on these points, so you don’t have to worry about your stacked points; you can use them whenever you want.
Rewards Rate
With Southwest® Rapid Rewards® Premier Business Credit Card, you can earn points with different purchases, but keep in mind that Rapid Rewards points have low redemption options. However, if you are a Southwest loyalist, then you can get decent value from these rewards:
- You can earn 3X points for every $1 spent on Southwest Airlines purchases; these points can help you book an award flight, companion pass, or other benefits.
- Earn 2X points for every $1 spent on Rapid Rewards® hotel and car rental partners, some of which include Marriott Bonvoy, World of Hyatt, AVIS, Hertz, etc.
- Earn 2X points for $1 spent on local transit and commuting, including rideshare, passenger trains, buses, taxis, parking lots, garages, etc.
- On all other purchases, you are going to earn 1X points for each $1 spent.
Rapid Rewards Redemption
The Southwest® Rapid Rewards® Premier Business Credit Card allows cardholders to earn Points for every purchase they make with the card. These points can be redeemed for, on average, between 1 to 2 cents per point for various rewards, including award flights, hotels, and gift cards from popular retailers, restaurants, and other merchants.
You’ve got several great options for using your Rapid Rewards points. You can cash them in for hotel stays, car rentals, awesome experiences, gift cards, and much more through the Rapid Rewards Shopping portal. But if you want to get most of your points, it’s possible only through booking a Southwest flight; you can get at least 1.5 cents per point while booking an award flight. With Southwest, you can redeem your points for flights within the US (including Hawaii) and to Mexico, the Caribbean, and Central America.
Unfortunately, Southwest Airlines doesn’t have any airline partners, so your reward redemption is limited; it’s a major drawback for someone who doesn’t fly Southwest frequently.
Southwest Premier Business Card Benefits
The Southwest® Rapid Rewards® Premier Business Credit Card comes with various benefits, some of which can alone cover your annual fee. Here are the benefits you are gonna get with this card:
Companion Pass
The Southwest companion pass is one of the best travel benefits you can have on any credit card; with this companion pass, you can bring along a companion on your flights without any extra cost( taxes and fees are required) whenever you book or use points for your trip. All you need to do is earn 135,000 qualifying points within a year or complete 100 one-way flights. The points you earn with the Southwest® Rapid Rewards® Premier Business Credit Card count towards unlocking this pass. That includes the points from sign-up bonuses and anniversary bonuses too.
Please note that once you’ve earned your Companion Pass, it becomes valid immediately and remains active for the rest of the current year and the following year. Click here for more details on the companion pass.
6,000 Anniversary Points
The Southwest® Rapid Rewards® Premier Business Credit Card comes with a fantastic perk that can really make a difference for travelers. You’ll get a generous 6,000-point anniversary bonus every year you keep the card. That bonus is worth approximately $90( based on a redemption value of 1.5 cents per point; it can vary on the method of redemption).
Fee Credit For Points Transfers
When you use your Rapid Rewards Business Credit Card to transfer points to another Rapid Rewards Member, any fees related to the transfer will be reimbursed. You can receive up to $500 in statement credits per anniversary year, making it even more convenient for you to share your rewards with others.
For every 500 points transferred, you will be charged a $5 fee; the minimum transfer amount is 2,000 points. The rebate will cover up to 50,000 points worth of transfers, making it a more appealing option for sharing your rewards. However, transferring points might not be a good idea because transferring more points can incur a heavy fee.
Ger A-List or A-List Preferred Status Faster
Southwest® Rapid Rewards® Premier Business Credit Card can help you earn elite status in Southwest Airlines; this status comes with many benefits like priority check-in, free same-day standby if you want to fly out earlier on the day of your scheduled flight, a 25% points bonus when purchasing eligible Southwest flights, and other benefits. With A-List Preferred, you will get all the theses benefits and a 100% points bonus when purchasing eligible Southwest flights (rather than just a 25% bonus).
To achieve A-List status with Southwest Airlines, you’ll need to earn 35,000 “tier-qualifying points” within a calendar year. Normally, the only way to earn these points is by flying on Southwest flights. But this card offers you 1,500 tier-qualifying points for every $10,000 you spend; there’s no limit to how many points you can earn! So you can achieve elite status faster.
To achieve A-List Preferred status with Southwest, you’ll need to earn 70,000 tier-qualifying points within a calendar year. You can use tier-qualifying points(TQP) you rack up using the Southwest® Rapid Rewards® Premier Business Credit Card count towards reaching this status as well.
Two EarlyBird Check-In
As a cardholder, you’ll receive a fantastic perk on your account anniversary – two EarlyBird Check-Ins as a reward! You’ll get these check-ins as a statement credit after making a purchase with your card. Normally, these EarlyBird Check-Ins would cost you between $15 to $25 for each leg of your flight. With this perk, you can relax and enjoy the convenience of being checked in 36 hours before your flight’s departure, giving you a smoother and more stress-free travel experience.
Other Perks And Benefits
In-Flight Purchase Discount
Whenever you use your card to pay for inflight drinks or Wi-Fi, You’ll receive 25% back as a statement credit, which means you’ll get some of that money back on your credit card bill.
Travel Protection and Insurance
The card also comes with basic travel protection and insurance:
- Baggage delay insurance – baggage delays over 6 hours by passenger carrier up to $100 a day for 3 days.
- Lost luggage reimbursement – lost luggage reimbursement that covers up to $3,000 per passenger for luggage lost or damaged by the airline.
- Extended warranty protection – This perk extends the period of any US manufacturer’s warranty by a year.
- Purchase protection – Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
How Much Are Southwest Premier Business Card Rewards Worth?
Talking about the rewards, this card comes with a generous bonus offer and other major benefits like a companion pass and an anniversary bonus. The Southwest® Rapid Rewards® Premier Business Credit Card has low reward redemption options, but with the available options, you can get a value of around 1.5 cents for each point. This is a good value for your points.
When it comes to using your Rapid Rewards points, the best bang for your buck comes from redeeming them for travel on Southwest flights. It’s the way to go if you want to make the most out of your points! While there are other options available, like gift cards and merchandise, they typically won’t give you as much value as those flight redemptions.
Who is the Southwest Premier Business Card For?
If you’re a business owner running a small to medium-sized enterprise and find yourself often hopping on Southwest flights, then the Southwest® Rapid Rewards® Premier Business Credit Card is tailor-made for you; even if you occasionally fly Southwest, this card’s other benefits, like the Anniversary bonus, companion pass, etc., could make up for your $99 annual fee.
This credit card offers plenty of spending categories that align with typical business expenses. By using these cards for your business-related purchases, you can accumulate a significant amount of Rapid Rewards points. Plus, the more you use the cards for such expenses, the quicker you can earn a Companion Pass
But when it comes to redeeming your points, your options are a bit restricted as Southwest has no airline partners.
Other Credit Cards to Consider
It’s important to note that the best competitor for the Southwest Rapid Rewards® Business Premier Credit Card will depend on your specific spending habits and goals. Before choosing a card, it’s important to compare the rewards and benefits of each option to determine which one will provide the most value for you.
Southwest® Rapid Rewards® Premier Business Credit Card vs Southwest® Rapid Rewards® Performance Business Credit Card
The Southwest® Rapid Rewards® Performance Business Credit Card is another business credit card offered by Southwest, with its annual fee of $199 being higher than the Premier Business Card. With this card, you will earn 80,000 points after you spend $5,000 on purchases in the first 3 months. Rewards rates also differ in Performance Business; you are gonna get 4X points per dollar spent on Southwest purchases.
You will receive 9,000 bonus points annually as an anniversary bonus with Performance Business. Also, it includes perks like a Global Entry/TSA PreCheck fee credit. So, it’s clear that Southwest® Rapid Rewards® Performance Business Credit Card comes with more perks, but also note that it has a double annual fee.
Southwest® Rapid Rewards® Premier Business Credit Card vs Ink Business Preferred® Credit Card
If you are looking for a business card but do not fly Southwest frequently, then you might consider Chase Ink Business Preferred® Credit Card. Even if you fly Southwest occasionally, then you can transfer your Chase points to Southwest at a ratio of 1:1. Even though it’s advertised as a cash-back card, it actually earns you Chase Ultimate Rewards points. These points can be used for travel with various airlines and hotels, or you can transfer them to different airline loyalty programs. So, it offers more flexibility than just simple cash-back rewards.
Bottom Line
If you’re a frequent Southwest flyer, the Southwest Rapid Rewards Premier Business Credit Card can be a solid choice for you. It offers some nice benefits, especially the annual anniversary points and companion passes you’ll receive. However, if you prefer more flexibility with your points or want a broader range of perks, it might be worth exploring other general-purpose business travel cards.
Keep track of your spending categories and select a credit card that rewards you for your most frequent purchases. Sign up for our travel concierge service, and we will help you uncover the finest credit cards of 2023, as well as incredible travel deals and how to leverage your points for maximum value.
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