Whether the Southwest Performance business card checks the right boxes for you truly depends on your willingness and ability to commit to Southwest. Frequent Southwest travelers will likely rack up the points needed to earn the highly prized Companion Pass after being gifted 10,000 of the 135,000 points in a calendar year required.
However, infrequent Southwest customers stand to leave untapped perks withering on the vine. Ultimately, that makes the $199 annual fee a tough sell. However, there’s a compelling argument that Global Entry/TSA PreCheck®, NEXUS fee credits and 9,000 anniversary points make this business card worth it for most.
-
Annual fee: $199
-
Reward rate: 4X per dollar on Southwest purchases, 3X for purchases at participating Rapid Rewards® hotel and rental car partners, 2X for local transit and commuting (includes ride-share), 2X for social media and search engine advertising, 2X for internet/cable/phone services and 1X for other purchases.
-
Welcome offer: For a limited time, earn up to 120,000 points— 80,000 points after spending $5,000 on purchases in the first three months. Plus, 40,000 points after spending $15,000 in nine months.
-
Perks: Earn 1,500 tier qualifying points (TQPs) toward A-List status for every $5,000 spent without limits.
-
Drawbacks: High annual fee and absence of lounge access.
The Southwest Business Performance card is best for cost-conscious business travelers who want to earn points without committing to the cost of an ultra-premium card just for lounge access and other frills.
With 4X back on Southwest flights, this card is a win-win for someone ready to earn back from their constant travel. With zero pressure to maximize rotating categories, Southwest’s business card is uncomplicated, providing slightly elevated perks above Rapid Rewards consumer credit cards.
Earning rewards
With the Southwest Business Performance card, you earn points on travel, select business-tech purchases and everyday purchases:
-
Southwest Airlines purchases: 4 points per dollar
-
Rapid Rewards hotel and car rental partner purchases: 3 points per dollar
-
Social media/search engine advertising, internet, cable and phone services: 2 points per dollar
-
Local transit and commuting (includes ride-share): 2 points per dollar
-
All other purchases: 1 point per dollar
Redeeming rewards
The Southwest Business Performance card has straightforward redemption options. Here are some ways to optimize this card:
-
Cash + Points: Southwest offers a fast, flexible program for using points that lets you pay for your flight with a combination of cash and accrued Rapid Rewards® points.
-
Hotels: Choose from over 70,000 hotels worldwide where you can turn points into stays.
-
Statement credits: Cash in Rapid Rewards points for statement credits to reimburse yourself for the card fee or other eligible expenses.
-
Gift cards: Redeem points for gift cards with a long list of retailers, including Panera, Best Buy, Lowe’s and Kohl’s.
-
Southwest experiences: Points can be used toward booking spa packages, cruises, rafting excursions, rock climbing, Jeep tours, hiking and more.
-
Rapid Rewards events: Unlock access to cardmember-only events that include getaways, wine tastings, music experiences and more.
-
Transfer to another Rapid Rewards member: Rapid Rewards Business card members can take advantage of an annual $500 fee credit for point transfers to other members.
Welcome offer
For a limited time, new Southwest Performance Business cardholders can earn up to 120,000 points— 80,000 points after spending $5,000 on purchases in the first three months, plus 40,000 points after spending $15,000 in nine months.
Travel benefits
-
Upgraded boarding passes: Southwest business cardmembers get four upgraded boardings to the best A1-A15 boarding position (when available). They also get first access to seats and overhead bins when boarding.
-
In-flight Wi-Fi: Get reimbursed for $8 in-flight Wi-Fi purchases as statement credits for up to 365 flights per year.
-
Global Entry or TSA PreCheck: Choose from a Global Entry, TSA PreCheck® or NEXUS fee credit.
-
Flexible travel options: Rapid Rewards points are never subject to blackout dates or expiration.
-
Lost luggage reimbursement: Get up to $3,000 per passenger.
-
Baggage delay insurance: Get reimbursed for toiletries, clothing and other essentials for baggage delays of over six hours.
Business benefits
-
Free employee cards: Cardmembers get free employee cards at no additional cost, which helps them to earn more points through enterprise-wide spending. You can also put spending limits on employee cards.
-
$500 credit for points transfers: On each cardholder anniversary, you’ll receive $500 credit points to cover transfer fees.
Other perks
-
Anniversary points: Southwest generously rewards Southwest Business Performance cardholders with 9,000 bonus points every account anniversary.
-
Status boosts: You can get to Southwest Rapid Rewards A-List status 2X faster with 1,500 TQPs toward A-List status for every $5,000 spent in purchases annually.
Fees
-
Annual fee: $199
-
Foreign transaction fee: None
-
Late payment fee: $40
-
Cash advance fee: The greater of $15 or 5% of the amount of each transaction
-
Balance transfers: The greater of $5 or 5% of the amount of each transfer
Interest rates
-
Regular APR: 21.49% to 28.49% variable
-
Cash advance APR: 21.49% to 28.49% variable
-
Intro APR offer: None
-
Default APR: Up to 29.99%
Credit limit
The base credit limit for the Southwest Performance Business Credit Card is $5,000. However, you may qualify for more than the minimum guaranteed amount if you have a high income or strong credit history.
High annual fee
While not in the same category as other premium cards with fees as high as $695, Rapid Rewards Performance Business has a $199 fee that requires work to break even. Frequent Southwest flyers should be able to pull it off to make the card worthwhile. Southwest even lets you redeem your points for statement credits to reimburse yourself for the fee.
Lack of flexibility for loyalty programs
Unfortunately, Rapid Rewards is infamous for its lack of options with hotel loyalty program transfer partners. However, you’ll still be able to work with Southwest Hotels, Best Western, Choice, Hyatt, Marriott Bonvoy and MGM Rewards. Rental car partners include Alamo, Avis, Budget, Dollar, Hertz, National, Payless and Thrifty.
No access to airport lounges
Southwest Rapid Rewards may one day fix its problem of not offering access to airline lounges. There are rumors that a deal may eventually be in the mix with Priority Pass. For now, Southwest’s business cards fall short of other cards with airport lounge access like the Chase Sapphire Reserve® card.
The Southwest Business Performance Card’s $199 fee is a little steep for what’s being offered. However, being able to optimize the perks leaves Southwest devotees in a uniquely good place. Let’s examine how the Southwest Performance business card compares with other Chase business cards.
If you’re looking for a Rapid Rewards business credit card with a lower annual fee, the Rapid Rewards Premier Business Credit Card could work. While keeping many of the same benefits as the Performance Business card, Premier costs just $99 per year.
The earning rates for rewards are almost the same across categories, except the Premier card only earns 2X points on purchases with Southwest hotel and rental car partners and nixes the telecom and marketing bonus categories.
You’re also keeping 25% back on in-flight purchases; the famous 10,000 Companion Pass qualifying points boost each year, the 1,500 TQPs toward A-List status for every $5,000 spent and the $500 fee credit for point transfers.
Looking beyond the Southwest Rapid Rewards suite of business credit cards, the Ink Business Preferred Credit Card is a fierce contender. However, this is not an apples-to-apples comparison because Ink is a business card instead of a business travel card.
Although not a travel-specific card, The Ink Business Preferred still earns decent points on travel, with 3X points per dollar on up to $150,000 of combined purchases per year in four categories: advertising, shipping, travel and telecommunications.
Points earned on the Ink card are more flexible than the Southwest card; they can be transferred to various travel partners at a 1:1 ratio or redeemed for cash back, travel, gift cards and more. When redeeming for travel through Chase Travel℠, Ink Preferred’s points are worth 1.25 cents each.
Rapid Rewards Performance Business is a steady choice for a business owner with a heavy Southwest habit. If Southwest is a preferred and regionally convenient option for you, this card can help you start tapping into perks and earning money back quickly. Meeting spending requirements for the welcome bonus is also doable for many business owners.
If you’re likely to spend enough to hit the points needed for the Companion Pass, this card offers incredible value because you’re getting free travel for guests. Even the TSA PreCheck and Global Entry perks are enough to push this over the edge. However, Southwest’s business card still needs to catch up to other cards that offer lounge access or better options for preferred seating.
