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June 2, 2018

Chase Southwest Business Card Review

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Do you fly Southwest? Southwest Rapid Rewards® Premier Business Credit Card offers a huge sign-up bonus. But is it right for your business? Read on.

Southwest Business Credit Card
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Overall Score

4.0

Rewards

4.5

Fees

3.5

Benefits

4.0
5-point scale (the higher, the better)

Pros and Cons

  • Signup bonus
  • Bonus points after Cardmember anniversary
  • No foreign transaction fee
  • $99 annual fee

Bottom Line

Good domestic airlines credit card for business owners

Chase has some of the best business cards on the market. Southwest Rapid Rewards Premier Business Credit Card is a good option for frequent Southwest flyers. We'll explain below.

Who This Card Is Best For

  • Businesses that frequently travel to Southwest destinations.

  • Business owners who often fly with a partner. If you can reach the Companion Pass, it's great savings for two people who often travel together.

  • Businesses that can spend enough to reach the Companion Pass and/or rack up Tier Qualifying Points for elite status.

Why Southwest Business Card Is Good

  1. A huge sign-up bonus. You get 60,000 bonus points after spending $3,000 in purchases within the first 3 months of account opening. We value this bonus to be worth anywhere between $600 and $1,000.

  2. 2x points on Southwest purchases. You get 2 points per $1 spent on Southwest purchases. This includes Southwest gift cards and participating Rapid Rewards hotel and car rental partners. All other purchases earn 1 point per dollar spent.

  3. Redeem miles for flights with no blackout dates. You can redeem your points on any Southwest flight. There are no blackout dates or seat restrictions. Southwest's award system is cost-based. The miles needed are based on the cost of the flight.

  4. Bonus points every year. You get 6,000 bonus points every year on your card anniversary. 6,000 bonus points could be worth a $100 flight, so this already justifies the annual fee.

  5. Reach Companion Pass faster. The Companion Pass is, no doubt, the biggest perk of the Rapid Rewards program. It is earned after getting 110,000 eligible Rapid Reward points in one calendar year. You can name one companion to fly free with you on unlimited Southwest flights for the rest of the year PLUS the entire following year.

    If you always fly with a partner, this pass could be worth a lot. It's best if you can time it so that you reach 110,000 points early in the year. That way, you get to enjoy the pass for longer. With the sign-up bonus alone, you're over halfway to the coveted Companion Pass.

  6. Earn Tier Qualifying Points (TQPs). For every $10,000 in eligible purchases, you earn 1,500 TQPs. You can earn a max of 15,000 TQPS per year. TQPs can be used for Rapid Rewards elite status, which gets you perks like priority boarding.

    • A-List status (35,000 TPQ per year): Get priority check-in, security, and boarding; dedicated phone line; free same-day standby; and 25% earnings bonus on Southwest flights.

    • A-List Preferred status (70,000 TPQ per year): Get the above plus: free in-flight Wi-Fi and 100% earnings bonus on Southwest flights.

  7. Free employee cards. There is no extra annual fee for employee cards. Your employees can help you rack up points with their spending. You can set spending limits for each employee.

  8. No foreign transaction fee. There is no extra foreign transaction fee for making purchases overseas. So feel free to use this card when you travel, including at one of Southwest's international destinations.

  9. Free checked bags. Your 1st and 2nd checked bags are free.

  10. No change fees. If you need to change the date of your flight, there is no change fee. But you will need to pay the fare difference.

Reasons to Consider Another Card

  • Other business cards could earn more points. This card doesn't give bonus points in any business categories. If your goal is to earn as many points as possible, there are other cards better for that. For example, Chase Ink Preferred gives you 3x points on the first $150,000 spent on travel and select business categories each account anniversary year.

    With the Chase Ink Business Preferred, you can use your points on the Chase travel portal at 25% more value. Or you could also transfer them 1:1 to Southwest. However, transferred points don't count towards the Companion Pass. And you won't get to rack up miles towards elite status. So this card is a good option if you don't care about reaching those.

  • If you want more flexibility. You can only redeem points on Southwest with this card. If you also fly other airlines or you have business in areas Southwest doesn't go, then you may consider a card that gives you more flexibility. Look for a card with multiple transfer partners, such as the Ultimate Rewards family of cards.

  • It's part of Chase's 5/24 rule. This rule says that if you've opened 5 or more bank cards in the past 24 months, you will not be approved for a new card. The Southwest Business card falls under this rule. So if you're really interested, prioritize this application over others.

How it Compares

 

Southwest Business Credit Card

Ink Business Preferred

Earn 60,000 points after you spend $3,000 on purchases in the first 3 months your account is open. - Learn more

Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards® - Learn more

 

Interest Rates and Fees

Purchase APR17.49% to 24.49% Variable based on your creditworthiness and other factors17.49% to 22.49% Variable based on your creditworthiness and other factors
Balance Transfers APR17.49% to 24.49% Variable based on your creditworthiness and other factors17.49% to 22.49% Variable based on your creditworthiness and other factors
Annual Fee$99 annual fee$95 annual fee
 

Benefits and Features

Points Point Rewards: Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.
AirlineAirline Rewards: 2 points per $1 spent on Southwest® purchases and Rapid Rewards® Hotel and Car Rental Partner purchases. 1 point per $1 spent on all other purchases.Airline Rewards: 1:1 point transfer to leading airline and hotel loyalty programs
Airline Transfer Partners Airline Transfer Partners: Airline transfer partners include United Airlines, Southwest Airlines, British Airways, Air France, Korean Air, Singapore Airlines, Virgin Atlantic, Iberia, and Aer Lingus.
Bonus Airline RewardsBonus Airline Rewards: 6,000 bonus points after your Cardmember anniversary. 
 Apply NowApply Now

Bottom Line

© tomasdelcoro (CC BY-SA 2.0) via Flickr

Southwest Rapid Rewards Premier Business Credit Card gives a great sign-up bonus. And with the yearly anniversary bonus, the annual fee is easily justified.

It's best if you can spend enough to get the Companion Pass and/or elite status. That would give you the most value. But keep in mind that you would need to be a pretty big spender in order to reach the total points needed. Think about if your business can realistically do that.

If you don't need or can't reach the Companion Pass, then think about whether there's another card that may be better for you such as the Chase Ink Preferred. If you want to earn more points or have more flexibility, there maybe better options.

Next Step: View the issuer's official application, terms, and details

Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Chase. This site may be compensated through the Advertiser's affiliate programs.

Disclaimer: This content was first published on June 2, 2018. Information including APR, terms and benefits may vary, be out of date, or not applicable to you. Information is provided without warranty. Please check Chase website for updated information.

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Southwest Rapid Rewards Premier Business Credit Card
Apply for Southwest Rapid Rewards Premier Business Credit Card
At Chase's Secure Site
  • Earn 60,000 points after you spend $3,000 on purchases in the first 3 months your account is open.
  • 6,000 bonus points after your Cardmember anniversary.
  • 2 points per $1 spent on Southwest® purchases and Rapid Rewards® hotel and car rental partner purchases.
  • 1 point per $1 spent on all other purchases.
  • Earn points on employee spending
  • Employee cards at no additional cost
  • No blackout dates when you redeem points, no seat restrictions, bags fly free®, and no change fees
  • No foreign transaction fees
  • Go to issuer's official application, terms, and details
Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
N/AN/A
17.49% - 24.49% Variable
$99

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