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Annual Fee

$99

Regular APR

15.99% – 22.99% Variable

Credit Score
Editor’s Rating

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Annual Fee

$99

Regular APR

15.99% – 22.99% Variable

Credit Score
Editor’s Rating
Featured Reward

60,000 points after spending $3,000 on purchases in the first 3 months from account opening

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

  • Pros & Cons
  • Details
Pros
  • Awards you 6,000 points each year after your account anniversary
  • Earns 2 Southwest points per dollar on your Southwest purchases
Cons
  • No bonus points on non-Southwest purchases
  • Relatively light benefits compared to other airline credit cards
  • 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

Read Our Review Read Our Review A looong arrow, pointing right

Review: Is the Southwest Rapid Rewards Premier Business card the best credit card for you?

The Southwest Rapid Rewards® Premier Business Credit Card is currently one of just two small-business credit cards affiliated with the popular carrier and the cheaper of the two. Its $99 annual fee is reasonable, considering the card comes with 60,000 points after spending $3,000 on purchases in the first 3 months from account opening. But what does that mean in terms of rewards?

Insider’s points and miles valuations peg Southwest points as worth about 1.4 cents each, which means this welcome bonus is worth around $840 in Southwest flights. Of course, the type of fare you book will dictate how much value you get, but this is a good baseline for determining the sign-up bonus value.

Beyond redeeming points for travel, the bonus also counts towards the Southwest Companion Pass. Once you have this secured, you can designate a travel companion who gets to fly with you free of charge (plus taxes and fees). 

The Southwest Rapid Rewards® Premier Business Credit Card also rewards your daily spending. While cardholders earn just 2x points on Southwest purchases and 1x on everything else, your points will count towards both the aforementioned Companion Pass and Southwest elite status.

Read more: The best small-business credit cards of 2021

You’ll also earn 1,500 tier qualifying points (TQPs) for each $10,000 in spending, up to $100,000 annually. So you could meet a significant part of the requirements for top-tier status without actually stepping on a plane.

The Southwest Rapid Rewards® Premier Business Credit Card is a great pick if you want a business card with a reasonable annual fee that gets you a long way towards the Southwest Companion Pass.

However, if you’re looking for more substantial category bonuses for your business, you may want to consider a card like the Southwest Rapid Rewards® Performance Business Credit Card, which earns 2x points on social media and search engine advertising, along with cable and phone services. That card has a $199 annual fee and offers many of the same airline benefits as the Southwest Rapid Rewards® Premier Business Credit Card.

Comparison: Southwest Rapid Rewards Premier Business card vs other Southwest cards

 

Southwest Rapid Rewards® Premier Business Credit Card

Southwest Rapid Rewards® Performance Business Credit Card

Southwest Rapid Rewards® Premier Credit Card

Annual fee

$99

$199

$99

Rewards rate

2x points on Southwest Airlines purchases

1 point per dollar on all other purchases

3x points on Southwest Airlines purchases

2x points on social media and search engine advertising, internet, cable, and phone services

1 point per dollar on all other purchases

2x points on Southwest Airlines purchases

1 point per dollar on all other purchases

Welcome bonus

60,000 points after spending $3,000 on purchases in the first 3 months from account opening

80,000 points after you spend $5,000 on purchases within the first 3 months of account opening

40,000 points after you spend $1,000 on purchases in the first 3 months. Plus, earn 3X points on dining, including takeout and eligible delivery services, for the first year

Southwest benefits

6,000 bonus points every cardmember anniversary

Earn 1,500 tier qualifying points (TQPs) for each $10,000 in purchases (up to $100,000 annually)

9,000 bonus points every cardmember anniversary

Earn 1,500 tier qualifying points (TQPs) for each $10,000 in purchases (up to $100,000 annually)

Four upgraded boardings per year, when available

Up to 365 inflight WiFi credits per year

$100 Global Entry or TSA Precheck credit every four years

6,000 bonus points every cardmember anniversary

Earn 1,500 tier qualifying points (TQPs) for each $10,000 in purchases (up to $100,000 annually)

Other card benefits

Lost luggage reimbursement

Baggage delay insurance

Extended warranty

Purchase protection

One year complimentary DoorDash DashPass membership (activate by December 31, 2021)

Lost luggage reimbursement

Baggage delay insurance

Extended warranty

Purchase protection

One year complimentary DoorDash DashPass membership (activate by December 31, 2021)

Lost luggage reimbursement

Baggage delay insurance

Extended warranty

Purchase protection

One year complimentary DoorDash DashPass membership (activate by December 31, 2021)

Foreign transaction fee

No

No

No

Review

 

Southwest Rapid Rewards Performance Business card review

Southwest Rapid Rewards Premier card review

Southwest Premier Business credit card vs other airline business credit cards

 

Southwest Rapid Rewards® Premier Business Credit Card

United℠ Business Card

Alaska Airlines Business Credit Card

Annual fee

$99

$99

$50 per company and $25 per card

Rewards rate

2x points on Southwest Airlines purchases

1 point per dollar on all other purchases

2x miles on United purchases

2x miles on dining, gas stations, office supply stores, and local transit and commuting

1 mile per dollar on all other purchases

3 miles per dollar on Alaska Airlines purchases

1 mile per dollar on all other purchases

Welcome bonus

60,000 points after spending $3,000 on purchases in the first 3 months from account opening

75,000 miles after you spend $5,000 on purchases in the first 3 months from account opening, and another 75,000 miles after you spend $20,000 total in the first 6 months

60,000 bonus miles plus Alaska’s Famous Companion Fare™ from $121 ($99 fare plus taxes and fees from just $22) after spending $3,000 or more within 90 days from account opening

Airline benefits

6,000 bonus points every cardmember anniversary

Earn 1,500 tier qualifying points (TQPs) for each $10,000 in purchases (up to $100,000 annually)

Two United Club one-time passes per anniversary year

Free first checked bag on United flights* 

Priority boarding on United flights

25% back on United inflight purchases

$100 United credit*

5,000 bonus miles each card anniversary when you have the United Business Card and a personal United credit card

500 Premier Qualifying Points (PQP) for every $12,000 you spend on purchases***

Expanded access to United award flights

Free first checked bag on Alaska flights

Alaska companion fare from $121 ($99 fare, plus taxes and fees from $22) on your card anniversary

20% back on Alaska inflight purchases

50% off Alaska lounge day passes

 

Other card benefits

Lost luggage reimbursement

Baggage delay insurance

Extended warranty

Purchase protection

One year complimentary DoorDash DashPass membership (activate by December 31, 2021)

Primary car rental insurance (when renting for business purposes)

Baggage delay insurance

Lost luggage reimbursement

Trip cancellation/interruption insurance

Trip delay reimbursement

Purchase protection

Extended warranty

Visa Signature concierge

Chase Luxury Hotel and Resort collection

One year complimentary DoorDash DashPass membership (activate by December 31, 2021)

N/A

Foreign transaction fee

No

No

No

Review

 

United Business Card review

Alaska Airlines Business Credit Card review

*$100 United credit after making seven or more United flight purchases of $100 or more each card anniversary year

***Up to 1,000 PQP in a calendar year for the United Business Card

How to earn points from the Southwest Premier Business card

The Southwest Rapid Rewards® Premier Business Credit Card offers a straightforward way to earn Southwest points. Cardholders earn 2 points per dollar on Southwest Airlines purchases and 1 point everywhere else. These aren’t super competitive rates compared to cards like the Southwest Rapid Rewards® Priority Credit Card, but perfectly acceptable for a card with a $99 annual fee.

The card also comes with a 6,000-point bonus every card anniversary (worth $84 based on Insider’s valuations), which can be enough for a short-haul ticket. You can earn additional points by referring your friends to the card. Through January 4, 2022, for each successful referral, you will earn 20,000 bonus points and you can earn up to 100,000 points per year.

Read more: Airline credit cards from Delta, Southwest, and more can help you earn elite status — in some cases, you can qualify without setting foot on a plane

It’s worth noting that you’re not just earning points with the Southwest Rapid Rewards® Premier Business Credit Card — you’re making progress towards Southwest elite status and the coveted Southwest Companion Pass. This benefit can help you stretch your Southwest points even further by allowing you to book airfare for a designated companion for free. We’ll dive more into that later.

How to use Southwest points

Southwest makes it easy to redeem points for anything from airfare to hotels to merchandise and everything in between. Southwest prices award tickets based on the cost of paid fares. So the number of points you need to redeem depends on the cash fare. Usually, you can expect 1.4 to 1.8 cents in value per point.

That means the 60,000-point sign-up bonus from the Southwest Rapid Rewards® Premier Business Credit Card should get you at least $840 worth of airfare. Redeeming Southwest points for flights is the best way to extract maximum value from your rewards, but it’s not the only option. Southwest’s More Rewards allows you to use points for merchandise and gift cards.

Read more: How to use Southwest’s Companion Pass, which gets you two-for-one travel on both paid flights and award tickets

Due to the pandemic, Southwest has suspended this option, but these redemptions have provided a value of 0.7 cents per point or less in the past. That’s half the value you can get by using points for Southwest flights, so we recommend using them for airfare instead. 

If you don’t plan to redeem Southwest points for travel, you might be better off with a cash-back credit card. Many of these cards carry no annual fees and you can redeem your cash back for virtually any purchase.

Benefits and features

The Southwest Rapid Rewards® Premier Business Credit Card comes with many useful benefits for frequent travelers and novices alike. You can spend your way to elite status or aim for the aspirational Companion Pass. Even if you stay home and let the card collect dust for a year, you can offset the $99 annual fee with perks like the anniversary bonus and DashPass membership.

Here’s a closer look at all the benefits and features of the Southwest Rapid Rewards® Premier Business Credit Card.

Anniversary bonus

The Southwest Rapid Rewards® Premier Business Credit Card offers an anniversary bonus of 6,000 bonus points. The only requirement for receiving this bonus is to keep your account open for 12 months after opening.

Read more: The best Southwest credit cards of 2021

6,000 Rapid Rewards points are enough to book airfare valued at roughly $84. Considering the card’s $99 annual fee, this is an excellent way to partially offset this recurring cost. 

Earn elite status faster

Southwest Rapid Rewards has two status tiers: A-List, which requires 25 one-way flights or 35,000 tier qualifying points (TQPs) per calendar year, and A-List Preferred, which requires 50 one-way flights or 70,000 TQPs. 

Status benefits include bonus points on qualifying flights (25% for A-List and 100% for A-List Preferred), priority boarding, check-in and security line access, as well as a dedicated phone line. A-List Preferred members also receive free inflight Wi-Fi.

The good news is that you can qualify for Rapid Rewards elite status partially through credit card spending. Southwest Rapid Rewards® Premier Business Credit Card cardholders earn 1,500 TQPs for every $10,000 in purchases, up to $100,000 annually (15,000 TQPs). 

Southwest Companion Pass

The Southwest Companion Pass is one of the best deals in travel. If you time it right, you can use it to book free award travel (plus taxes) for a designated companion for up to two years.

Read more: The Southwest Companion Pass can offer excellent value, but not for everyone — here’s who it’s best for

Earning the Companion Pass usually requires 100 one-way flights or 125,000 qualifying points in a calendar year. However, the sign-up bonus and subsequent spending on the Southwest Rapid Rewards® Premier Business Credit Card count toward the points requirement. 

However, all Rapid Rewards members with active accounts as of December 31, 2020, received 25,000 out of the required 125,000 points (and 25 qualifying flights) automatically for 2021 — effectively reducing the Companion Pass requirement to just 100,000 points or 75 flights this year.

DashPass membership

Food delivery apps like DoorDash and Caviar have skyrocketed over the past year, as most people were stuck at home.  DashPass membership costs $9.99 per month, but Southwest Rapid Rewards® Premier Business Credit Card cardholders receive it a complimentary year when they activate by December 31, 2021.

Lost luggage reimbursement

The Southwest Rapid Rewards® Premier Business Credit Card offers lost luggage reimbursement that covers up to $3,000 per passenger for luggage lost or damaged by the airline.

Baggage delay insurance

Delayed luggage can put a significant strain on your vacation plans. Once again, the Southwest Rapid Rewards® Premier Business Credit Card has you covered with baggage delay insurance that kicks in after six hours. Cardholders are reimbursed for essential items up to $100 for three days.

Read more: The best credit cards with travel insurance

Purchase protection

If your brand new gadget or favorite pair of shoes goes missing or incurs damage, the Southwest Rapid Rewards® Premier Business Credit Card‘s purchase protection could reimburse you up to $10,000 per claim. This benefit is valid for up to 120 days after purchase and is limited to $50,000 per account.

Extended warranty protection

If you’re one of the few people who take advantage of manufacturer warranties, you’ll appreciate the Southwest Rapid Rewards® Premier Business Credit Card‘s extended warranty protection.

This perk extends the period of any US manufacturer’s warranty by a year. Note, this only applies to warranties of three years or less.

Annual Fee

$99

Regular APR

15.99% – 22.99% Variable

Credit Score
Editor’s Rating

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Annual Fee

$99

Regular APR

15.99% – 22.99% Variable

Credit Score
Editor’s Rating
Featured Reward

60,000 points after spending $3,000 on purchases in the first 3 months from account opening

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

  • Pros & Cons
  • Details
Pros
  • Awards you 6,000 points each year after your account anniversary
  • Earns 2 Southwest points per dollar on your Southwest purchases
Cons
  • No bonus points on non-Southwest purchases
  • Relatively light benefits compared to other airline credit cards
  • 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

Read Our Review Read Our Review A looong arrow, pointing right

Fees and costs

The Southwest Rapid Rewards® Premier Business Credit Card has a $99 annual fee, which is pretty standard for airline credit cards.

You can also add employee cards without an additional fee, which is nice because it enables you to generate lots of points on business spending. Other than the annual fee, you won’t be paying extra to use the card abroad since foreign transaction fees are waived.

Like most other cards, the Southwest Rapid Rewards® Premier Business Credit Card charges fees for cash advances, balance transfers, late payments, and returned payments.

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Featured Reward $200 after spending $500 on purchases in the first three months from account opening
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Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.

Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.

Please note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.

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