Southwest® Rapid Rewards® Premier Business Credit Card Review

Using your business travel credit cards intelligently can help you manage your small business more effectively. These cards are great for making expense payments simpler and unlocking a bunch of perks for anyone traveling on business.

You can choose from among many travel cards that team up with a specific airline or those all-purpose ones that offer rewards you can use with any airline. Or you can get both to max out your benefits.

In this article, we’re diving into one of the best co-branded travel cards out there, the Southwest® Rapid Rewards® Premier Business Credit Card from Chase Bank. Plus, we’ll give you a quick gander at three other top contenders for you to consider.

Main Things to Know

• The Southwest® Rapid Rewards® Premier Business Credit Card caters to small business owners with good to excellent credit who fly on Southwest Airlines and want to earn cash back rewards.

• The unsecured card has a $99 annual fee and no foreign transaction fees.

• It offers a signup bonus and anniversary Southwest points but lacks introductory 0% APR promotions.
• The card has a 21.49% - 28.49% Variable APR based on your creditworthiness.

How to Qualify & Apply For the Card

Business owners, along with their authorized employees, have the opportunity to cut down on travel costs by using this card. If you’re interested in the Southwest® Rapid Rewards® Premier Business Credit Card, you can easily apply by hitting the ‘APPLY NOW’ button in the card details below.

This simple action may be your first step toward more savings and benefits on your business travels.

There are specific qualifications you’ll need to meet to be eligible for the card. Firstly, a solid credit history is essential; this card requires a good to excellent credit score, reflecting responsible credit management over time. This criterion ensures that you have a record of timely payments and sound financial behavior.

Additionally, demonstrating a steady source of income is crucial. as it indicates your capability to pay your bills on time.

You must be a US resident, 18 years old (19 in Alabama and Nebraska), and run a business. In addition, you must pledge to personally pay the monthly credit card bill in case your company can’t.

Benefits & Drawbacks to Consider

For entrepreneurs, choosing the correct credit card is not just about convenience; it’s a matter of sensible financial management and obtaining the maximum value from each business expenditure.

Knowing the advantages and disadvantages of business credit cards is vital since each one presents a distinct combination of rewards, costs, and benefits. Selecting a card that matches your spending practices can help you operate your small business more efficiently.

Benefits

• • Signup Bonus: Earn a welcome bonus of Rapid Rewards points when you satisfy the initial spending requirement within the specified timeframe after account opening.

• • Earn Rapid Rewards points on purchases: You earn 3x points on Southwest Airlines purchases. Rapid Rewards hotel and car rental partner purchases and rideshares earn 2x points. All other eligible purchases earn one Rapid Rewards point per dollar.

• • Anniversary points: Each year, cardholders receive bonus Southwest points on their cardmember anniversary, helping to offset the annual fee. In addition, you obtain a $500 fee credit per year for Rapid Rewards point transfers and 25% back on inflight purchases.

• • Employee cards at no extra cost: Business owners can add employee cards to their accounts without any additional fees, allowing them to earn Southwest Rapid Rewards points on employee spending.

• • No foreign transaction fees: There are no foreign transaction fees when you use the card for purchases abroad, making it an excellent option for international travel.

• • Southwest Rapid Rewards points don’t expire: Your points do not expire as long as your card account remains open. You can redeem your points at any time.

• • Tier qualifying points: Cardholders can earn tier qualifying points (TQPs) up to the yearly limit. These points help you earn A-List or A-List Preferred status, which offers additional benefits such as priority boarding and bonus points on Southwest flights.

• • Miscellaneous perks: These include free baggage check, no change fee, two EarlyBird Check-Ins per year, and unlimited reward seats with no blackout dates or seat restrictions.

Drawbacks

• • Annual fee: The card comes with a $99 annual fee, which may be a significant factor for your business, especially if you aren’t a frequent flyer with Southwest or do not spend enough to offset the fee with rewards.

• • No introductory APR: The card doesn’t offer an intro 0% APR on purchases or balance transfers.

• • Tickets limited to Southwest: Your rewards provide free flights only on Southwest Airlines and its partners, limiting your flexibility to use other airlines for business travel.

• • Missing some luxury travel perks: This card lacks several luxury travel benefits, including airport lounge access, travel insurance, and reimbursement for Global Entry and TSA PreCheck.

• • Spending required for bonus points: You must spend a significant amount on eligible purchases to earn the sign-up bonus and tier qualifying points, which may not be feasible for your business.

Other Cards Worth a Look

The Southwest® Rapid Rewards® Premier Business Credit Card may not be your best choice if you don’t fly Southwest much or you prefer general-purpose points that you can use on any airline. If so, here are three top-rated business cards for you to consider.

The $195 annual fee on the Ink Business Premier® Credit Card is double that of the Southwest card, but it offers better rewards and benefits. It has a much larger signup bonus, a broader top bonus rate tier on purchases of $5,000+, and a higher regular cash back rate on all other purchases.

The card provides perks missing from the Southwest card, including trip cancellation/interruption insurance, cellphone protection, purchase protection, rental car insurance, and extended warranties. You can redeem your Ultimate Rewards points for cash, gift cards, and travel.

The Capital One Spark Miles for Business offers general-purpose miles on every eligible purchase that you can use on any carrier. The card pays a high flat rate on eligible purchases and a bonus rate on hotels and rental cars you book through Capital One Travel.

Unlike Southwest business cards, the Spark card lets you cash out your miles or transfer them to more than a dozen travel loyalty programs for free. The card’s APR falls into the middle of the Southwest card’s range, and it waives the first-year annual fee. The Spark card provides TSA PreCheck credits, whereas the Southwest card does not.

The Ink Business Preferred® Credit Card charges about the same annual fee as the Southwest card but has a lower APR and a larger signup bonus. You can redeem the general-purpose points in several ways, and they’re worth 25% more when you use them to book travel through Chase Travel℠.

The card offers the same top-tier rewards rate as Southwest but more purchase categories and benefits. These include extended warranties, auto rental collision damage waiver, roadside dispatch, purchase protection, and 1:1 point transfers to participating frequent travel programs.

Cardholder Reviews Around Reddit

Here are some reviews from Redditors around the country who carry the Southwest® Rapid Rewards® Premier Business Credit Card and can share their experiences with it.

whatacharacter offers important advice regarding Companion Passes:

“You can get one for close to two years. You get the Companion Pass by earning 135k points in a single calendar year. The way to game this is to time your signup bonus to hit on your January statement and then immediately spend/fly/offer to get the remaining points ASAP. Once you hit 135k, you will have a Companion Pass for the remainder of the current year plus the entirety of the next.”

And here is more cogent advice from LadyGreyIcedTea:

“You should always pay any credit card in full every month (with the exception of one that has a 0% APR promo). Especially with cards like the Southwest® Rapid Rewards® Premier Business Credit Card — they have such a high APR that paying interest would negate the rewards.”

Much of the online chatter centers around Southwest Airlines Companion Passes. Apparently, the carrier has a real winning concept that attracts personal and business cardholders alike.

FAQs: What Is the Card’s Credit Limit?

The credit limit for the Southwest® Rapid Rewards® Premier Business Credit Card depends on several factors, including your and your company’s creditworthiness, your business’s revenue, and its overall financial condition. Because the Southwest card carries the Visa® Signature logo, you should expect a minimum credit limit of $5,000.

But forum remarks point to credit limits of $30,000 or more. Chase will reveal your specific credit limit when it approves your application. These limits can vary widely.

You can request a credit limit increase if the initial credit limit is too small for your requirements. You’ll increase your odds if you wait at least six months before requesting a higher credit limit.

How Do the Card’s Rewards Work?

The card’s rewards program delivers substantial value to Southwest Airlines business travelers, emphasizing how users can actively accumulate Rapid Rewards points. Let’s see how it works.

Earning Rewards

You can start by earning a generous signup bonus if you meet a specific spending target within the first few months of opening your account.

Every purchase earns you Rapid Reward points, with the highest rewards for spending directly on Southwest Airlines. You earn 2x bonus points for transactions with Southwest’s hotel and car rental partners, as well as expenses for local transit and commuting, including rideshare.

For all other qualifying purchases, you accumulate points at the standard 1X rate. The card celebrates your account anniversary each year with bonus points, an ongoing benefit of long-term membership.

Redeeming Rewards

Southwest Airlines, not the credit card issuer, determines how you can use your Rapid Rewards points. To start earning points, you need to join the Rapid Rewards program.

You have the flexibility to use your points for flights, hotel stays, car rentals, and other travel-related expenses with Southwest and its partners. Beyond travel, you can also exchange points for merchandise, cash back on your statement, gift cards, unique experiences, and more.

The value you get from your points varies depending on what you redeem them for. When booking flights, the points needed change based on your destination, the timing and day of your travel, how many people want to fly, the type of ticket you buy, and Southwest’s current points pricing, among other things.

If you’d like, you can share your points with another cardmember or donate them to a charity that Southwest supports.

Your Rapid Rewards points are yours to keep as long as your account stays open, with no worry about them expiring. However, closing your account means you lose any points you haven’t used. When it comes to flights, you’re free to book any available seat on Southwest Airlines and its partner flights without worrying about blackout dates.

Reward Statuses

Southwest offers a reward status system that, while satisfying, can seem a bit intricate at first glance. As you spend on your card, you’ll accumulate Tier Qualifying Points (TQPs) that edge you closer to A-List status.

For every $5,000 you spend on eligible purchases with your card, you’ll bag 1,500 TQPs. To hit A-List status within a calendar year, you either need to take 20 qualifying one-way flights booked through Southwest or rack up 35,000 TQPs.

Achieving A-List status unlocks several perks: a 25% bonus on the points you earn from Southwest flights, priority check-in and boarding, access to a dedicated customer service line, and the option for free same-day standby.

If you’re aiming higher, Southwest has A-List Preferred Status. This level is for members who complete 40 one-way flight segments or earn 70,000 TQPs in a year.

A-List Preferred status amps up the rewards with all the A-List benefits plus earning double points on flights, a dedicated customer service line, complimentary in-flight internet, and two free premium drinks to enjoy while you fly.

Once you’ve secured A-List or A-List Preferred status, Southwest ensures you and everyone on your booking get an automatic boarding position 36 hours before your flight, though some exceptions apply.

Your status is valid for the rest of the year you earn it and the entire following calendar year. But remember, you’ll need to meet the qualifications each year to maintain your A-List or A-List Preferred perks.

And there’s more: You can earn the Southwest Companion Pass, a jackpot for frequent flyers. This pass lets you choose a companion to fly with you free of airline charges as many times as you like, provided you buy or redeem points for your flight.

To snag a Companion Pass, you must earn a specific number of points or fly a certain number of one-way segments annually. Plus, as a Rapid Rewards member, you get an extra 10,000 Companion Pass points each year.

How Hard Is It to Get Approved?

Getting approved for the Southwest® Rapid Rewards® Premier Business Credit Card typically hinges on having a good to excellent credit score, usually a minimum FICO score of 670 to 700. However, approval involves more than just your credit score.

Chase, as with other credit card issuers, takes a thorough look at several factors. Your credit history plays a crucial role: You’ll have better approval odds with a solid record of responsible credit use, including consistent on-time payments, low credit utilization ratios, and a broad mix of credit types.

Moreover, you and your business must demonstrate a stable income that can comfortably cover your credit card payments alongside your existing debts.

A high debt-to-income (DTI) ratio may harm your approval chances. Sometimes, having a pre-existing banking relationship with the issuer through other accounts or credit products can work in your favor.

Additionally, issuers look at how many credit applications you’ve recently filed. A flurry of recent applications can signal financial desperation, which is a red flag for lenders.

While a high credit score certainly boosts your chances, meeting these criteria doesn’t automatically guarantee approval. If your application is on the fence, providing additional documentation about your financial stability and the nature of your business may tip the scales in your favor.

Remember, you must provide a personal guarantee to pay the credit card bill when the company isn’t able to. That’s why business card issuers look to evaluate the company owner as well as the enterprise.

One last consideration: The Southwest® Rapid Rewards® Premier Business Credit Card is subject to the Chase 5/24 Rule, which limits you to five new credit cards (from any issuer) in the most recent 24 months.

How Does the Card Make Travel Easier?

Many business owners lead busy, demanding lives and naturally desire their business travel to be as seamless and comfortable as possible. The Southwest® Rapid Rewards® Premier Business Credit Card offers a level of comfort and convenience that aims to keep your energy up and maintain your spirits during your travels with Southwest.

To start with, you get two EarlyBird Check-Ins per year. Southwest will reimburse you each anniversary year for the purchase of up to two EarlyBird Check-Ins that provide automatic check-in before the traditional 24-hour window. While this perk doesn’t guarantee an “A” boarding position, it improves your seat selection options to help you get your favorite seat and earlier access to overhead bins. EarlyBird Check-Ins are subject to availability.

You also get 25% back on inflight purchases of drinks and wifi in the form of a credit card statement credit. Statement credits will be posted to your credit card account the same day as your purchases and will appear on your monthly credit card billing statement within one to two billing cycles.

The employees on your card account will also receive 25% back on inflight purchases. To qualify for the 25% back, you must use your Premier credit card for purchases, and your account must be open and not in default at the time of fulfillment.

Additional perks include unlimited reward seats with no blackout dates, free checking of first and second bags (weight and size limits apply), fee-free flight changes, and no foreign transaction fee.

As described above, you obtain even greater benefits by achieving A-List or A-List Preferred status, which provides access to a special phone line for quicker customer service. It also allows for same-day changes to your itinerary based on availability without additional fees. Most importantly, you can enjoy a couple of martinis on the house.

You can acquire status qualifying points quicker when you authorize multiple employees to use the company’s Southwest® Rapid Rewards® Premier Business Credit Card account.

How Does It Compare to the Southwest® Rapid Rewards® Performance Business Credit Card?

The Southwest® Rapid Rewards® Premier Business Credit Card has a more expensive sibling, the Southwest® Rapid Rewards® Performance Business Credit Card. Although it charges twice the yearly fee, it delivers several more benefits than the Premier card does. But as the following chart shows, the Southwest® Rapid Rewards® Premier Business Credit Card offers a few goodies that its stablemate doesn’t.

Feature	Southwest® Rapid Rewards® Premier Business Credit Card	Southwest® Rapid Rewards® Performance Business Credit Card
Annual Fee	$99	$199
Signup Bonus	Yes	Yes
Reward Points	3x-1x points	4x-1x points
Tier Qualifying Points (TQPs)	Offers TQPs at the same rate	Provides TQPs towards A-List status
Global Entry/TSA Pre✓® Fee Credit	Not available	Yes, it covers the application fee once every four years
Inflight WiFi Credits	Not offered	Includes credits for inflight wifi
Annual Travel Credit	None	Yes
Employee Cards	Employee cards at no extra cost and also earn points	Employee cards at no additional cost, earning points on their spending
Foreign Transaction Fee	None	None
Early-Bird Check-Ins	Two per year	Not standard; depends on A-List status benefits
Upgraded Boardings	Available for purchase; no specific credits related to the card	Four per year
Fee Credit for Points Transfers	$500/year fee credit for transferring points	$500/year fee credit for transferring points
In-Flight Southwest Purchase Discount	25%	None unless you achieve A-List status

Unless your cash flow is tight, you’ll do better by spending the extra $100 on the Southwest Performance Business Card. For the additional fee, you’ll get better rewards, TSA PreCheck reimbursement, a higher signup bonus, and other benefits that justify the expenditure.

This Card May Be For You If…

• • You frequently fly with Southwest Airlines and want to earn rewards that directly enhance your travel experience with them.

• • You’re looking for a card that offers valuable perks like anniversary points, tier qualifying points toward elite status, and no foreign transaction fees to save on international purchases.

• • You appreciate having a range of redemption options, including flights, hotel stays, car rentals, and more, to maximize the utility and flexibility of your earned points.

For business owners frequently flying with Southwest Airlines, choosing the Southwest® Rapid Rewards® Premier Business Credit Card is a no-brainer. The card’s annual fee won’t break the bank, and it comes packed with benefits, particularly for those who reach A-List Preferred status. However, if Southwest isn’t your usual airline, take a look at the other cards we’ve reviewed above — they’re all top-notch choices for the busy business traveler.