Chase Southwest Rapid Rewards Performance Business Credit Card: Expert Review & Considerations

The Chase Southwest Rapid Rewards Performance Business card offers excellent rewards to business owners. If you are looking for a card that allows you to earn redeemable points for Southwest flights, this card serves as a fine option for your wallet. It also offers a substantial sign-up bonus of 80,000 points for spending $5,000 in the first three months of card ownership.

Card Details to Know Up Front

Bonus, Fee or Feature
Has or Not
Has Annual Fee
Has Balance Transfer Offer
Has APR Offer
Cash Back Rewards
Travel Rewards
Hotel Benefits
Airline Benefits
Has Rewarding Welcome Offer
Has Foreign Transaction Fee
Credit Needed
Good–Excellent

Click to see this card’s rates, fees and how they compare to other cards in our dataset.

Chase Southwest Rapid Rewards Performance Business at a Glance

Business travelers with a good credit score and those who are loyal to Southwest Airlines can redeem their points and use the earnings to fly to more than 90 destinations worldwide. Although the card charges an annual fee and does not have cash back rewards, it allows you to select gift cards from your favorite shops and make payments using as little as 3,000 points.

Chase Southwest Rapid Rewards Performance Business
An excellent business card with Southwest and other travel benefits
- Good–ExcellentCredit Needed
- $199Annual Fee
- 1–3 Points per $1*Rewards Rate
- 3xRewards Rate on Air Travel
- 2xRewards Rate on TV, Phone, Internet Services
Pros
Spend-based sign-up bonus points
Annual bonus points
Upgraded boarding
Global Entry/TSA PreCheck fee credit
In-flight Wi-Fi credits
3x points on Southwest flights
Employee cards

Cons
$199 annual fee
Absence of comprehensive travel insurance coverage
No airport lounge access
Cannot transfer miles to other airline loyalty programs
Default APR may apply in case of late or returned payments
Earn 80,000 points by spending $5,000 on purchases in the first three months.
Earn 9,000 points each account anniversary.
Earn 1,500 tier qualifying points (TQPs) for every $10,000 you spend on purchases, up to $100,000 each year, and move to the A-List or A-List Preferred membership status faster (both come with priority boarding and same-day standby).
Earn 3x points per $1 on Southwest Airlines purchases and purchases made through hotel and car rental partners such as Southwest Hotels, Best Western, Hyatt, Marriott, Avis, Budget and Hertz.
Earn 2x points on payments toward internet, cable and phone services as well as social media and search engine advertising.
Earn 1x points on all other purchases.
Redeem your points for Southwest Airlines flights, international flights on global carriers, rental cars, hotel stays, merchandise, gift cards or exclusive experiences.
Get complimentary availability-based seat upgrades on Southwest flights up to four times each year.
Get 365 Wi-Fi credits, worth $8 each, per year for use on Southwest flights.
Get up to $100 as Global Entry/TSA PreCheck fee credit every four years.
Pay no foreign transaction fees when you use this card outside of the U.S.
Stand to benefit through lost luggage reimbursement, baggage delay insurance, extended warranty protection and purchase protection.
Employee cards come with no added fees.
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Terms, rates and fees apply
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Pros & Cons Explained

Small businesses can take advantage of the Chase Southwest Rapid Rewards Performance Business benefits to earn points that can be spent on flights, in-flight purchases, gift cards, Southwest vacation package purchases plus any other purchases made at participating Rapid Rewards hotels. However, this card has a few shortcomings as well.

Pros

Benefits
Description
Impressive sign-up bonus
You will be eligible to earn 80,000 points on this card if you spend up to $5,000 within the first three months. This is the equivalent of $1,160 of Southwest flights costs.
Anniversary bonus
Chase Southwest Rapid Rewards Performance Business customers receive 9,000 points for each card anniversary. The points translate to approximately $130, which covers a large percentage of the card’s annual fee of $199.
No foreign transaction fees
If you use the card to make purchases outside the United States, you won’t pay any foreign transaction fees.
Inflight WiFi Credits
You will get up to 365 $8 worth of inflight WiFi statement credits. That means you can get up to 365 wiFi reimbursements annually using your Southwest credits.
No cancellation fees
If you cancel your flight with Southwest Airlines, you will not pay a cancellation fee when booking with points.

Cons

Drawbacks
Description
Annual fee
Although some Chase credit cards do not have an annual fee, you will pay $199 annually for this card.
No provision to transfer points
You cannot transfer points earned using this card to other loyalty programs. However, you can redeem Rapid Rewards points for international flights with other airlines besides Southwest.
No cash back rewards
The Chase Southwest Rapid Rewards Performance Business card does not have any cash back rewards.

LOOKING FOR THE BEST CREDIT CARDS OF 2021?

MoneyGeek reviews its database of credit card data on a monthly basis to obtain the best options in categories such as travel, balance transfer, business and many more. It can be helpful to compare the Chase Southwest Rapid Rewards Performance Business card with the best business cards to determine which option suits your needs.

Bonuses & Rewards Explained

With this card, you can get unlimited reward seats to over 90 destinations with Rapid Rewards. You will also earn points on each purchase, with no restriction on the number of purchases. You will receive four complimentary seat upgrades each year, although this depends on availability. Cardmembers are also eligible for a 9,000 points bonus each year after a cardmember anniversary, get three points for each $1 spent on Southwest Airlines purchases, two points for each $1 spent on search engine and social media advertising, cables, internet and phone services, and one point for other purchases.

1

Anniversary bonus

You will receive 9,000 points after your card anniversary, which is equivalent to $130 for Southwest flights.

2

Three points for each $1 spent

You can earn 3 points for each $1 spent on Southwest Airlines, two points for each $1 spent on search engine and social media advertising, cables, internet and phone services.

3

Earn one point per dollar on all other purchases

Cardholders earn a point for every dollar spent on non-Southwest Airline purchases.

4

Global Entry or TSA PreCheck membership pre-approved Fee Credit

Members get a reimbursement of up to $100 every four years in the form of statement credit for Global Entry or TSA PreCheck membership.

Other Features Explained

Apart from the numerous benefits and rewards, cardholders also qualify for various travel and business-related features associated with the card.

Card Feature
Description
Contactless pay
With this feature, you pay for purchases by tapping the card on the checkout terminal. That keeps your card more secure.
Lost luggage reimbursement
If in the course of travel your luggage gets lost or damaged, the carrier will pay $3,000 for each passenger.
Baggage delay coverage
You will get reimbursed up to $100 daily for three days as coverage for clothing, toiletries and other important purchases if your baggage is delayed for more than six hours.
Purchase protection
For new purchases, the carrier provides 120 days of coverage against theft and damage. Cardholders receive a maximum of $10,000 for each claim and $50,000 per account.
DoorDash
Chase Southwest Rapid Reward Performance Business customers can use their DoorDash membership to get a $0 delivery fee on orders.

MONEYGEEK EXPERT TIP

Chase Southwest Rapid Rewards Performance Business card customers are allowed to fly with someone else free of charge if a seat is available using the Companion Pass feature. To get this benefit, you will need to earn at least 125,000 points on the card or book 100 qualifying one-way flights with Southwest Airlines. Since Southwest does not have domestic and international airline partners, cardholders only enjoy the most benefits when they redeem their points on Southwest flights.

Understanding the Fine Print

Business travelers using this card will need to pay an annual fee of $199 as well as several other fees associated with the card. Although there is no foreign transaction fee charged on international purchases, charges like balance transfer rates and APRs may result in huge interest if cardholders do not plan their payments accordingly.

Card Feature
Amount or Rate
APR
15.99%–22.99%
Annual Fee
$199
Cash Back Rewards
Rewards Rate
1–3 Points per $1*
Airline Benefits
Rewards Rate on Groceries
1x
Rewards Rate on Gas
1x
Rewards Rate on Dining
1x
Rewards Rate on Entertainment
1x
Rewards Rate on Online Shopping
1x
Rewards Rate on TV, Phone, Internet Services
2x
Rewards Rate on Air Travel
3x
Rewards Rate at Hotels
1x
Balance Transfer Fee
5%
Balance Transfer APR
15.99%–20.99%
Late Fees
$40.00
Cash Advance Fee
5%
Cash Advance APR
24.99%
Foreign Transaction Fee
None

Purchase APR
The Chase Southwest Rapid Rewards Performance Business card has an APR that’s higher than MoneyGeek’s recommended average. Any delay in making purchase payments will result in an APR of 15.99% to 22.99% depending on your creditworthiness.
Balance Transfer Fee and APR
This card has a fee of 5% on balance transfers and an APR of 15.99% to 20.99%. While the APR is lower than some Chase other cards, it is still higher than MoneyGeek’s recommended range.
Annual Fee
If you get a Chase Southwest Rapid Rewards Performance Business card, you will need to pay an annual fee of $199.
Cash Advance Rate
The cash advance rate for the Chase Southwest Rapid Rewards Performance Business card is 5%. That means you will pay $10 to get a cash advance of $200.

FINDING YOUR CARD'S RATES AND FEES

If you want to apply for this card, some of the factors to consider will include purchase and balance transfer APRs, annual fees, foreign international fees and other unique benefits and rewards associated with the card. If you are unsure about getting the Chase Southwest Rapid Rewards Performance Business card, you can take time to compare various other cards within the business category and see if you will get one with the most ideal benefits. To get the necessary information for this comparison, you can check your last billing statement or the Chase mobile app. You can also find information about the card on the company website or the credit card agreement database that’s maintained by the Consumer Financial Protection Bureau.

Who Should & Shouldn’t Consider Chase Southwest Rapid Rewards Performance Business?

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Other Considerations for Chase Southwest Rapid Rewards Performance Business

Is Chase Southwest Rapid Rewards Performance Business a good card? Whether to apply for this card or not depends on what you are looking for in a credit card. Prior to getting the card, you will need to understand its rewards, features and benefits. One advantage of this card is that you get a multiple points bonus that counts towards earning a free Companion Pass. However, the card’s annual fee and bonus spending threshold tend to be a bit high.

Things to Consider if This is Will Be Your First or Only Credit Card

When planning to get the Chase Southwest Rapid Rewards Performance Business as your first or only card, you will need to check if your credit score is within the requirements for getting the card. For you to earn a signup bonus, you will need to spend $5,000 in the first three months, which is quite high compared to other Chase cards. The card’s high APR also means that you will pay substantial interest if your payments delay beyond the due date.

Things to Consider if This is Will Be an Additional Card in Your Wallet

You may also purchase the Chase Southwest Rapid Rewards Performance Business as an additional card to the ones you already have. For business owners who travel outside of the United States occasionally, this card can be helpful in making international payments free of foreign transaction fees. However, the base reward rate for the card is only one point for each dollar spent, which is quite low.

WHY TRUST OUR REVIEWS

To determine the best cards across different categories, MoneyGeek’s methodology involves a series of steps. First, we collect credit card information from the Consumer Finance Protection Bureau’s database, then standardize the data points, estimate average spend profiles and define long-term value for each card. This information is reviewed and re-ranked on a monthly basis.

How Chase Southwest Rapid Rewards Performance Business Compares to Other Cards

The Chase Southwest Rapid Rewards Performance Business credit card is unique since it provides businesses with rewards involving advertising and telecom expenses. The card also comes with various Southwest travel benefits, including four upgraded boardings per year and in-flight Wi-Fi credit. However, it is worth comparing the card to another potential option to ensure it’s the right card for you.

Quick Comparison of Chase Southwest Rapid Rewards Performance Business

Chase Southwest Rapid Rewards Performance Business

Annual fee: $199
Sign-up bonus: 80,000 points for $5,000 spent in the first three months
One point for each $1 purchase
No intro APR offer
Foreign transaction fee: $0
Best For: Overseas travelers who are loyal to Southwest Airline

Capital One VentureOne Rewards

Annual fee: $0
Signup bonus: 20,000 miles bonus for $500 spent the first three months
1.25 miles for each $1 purchase
Intro 0% APR offer for the first year -** Foreign transaction fee:** $0
Best For: Travelers looking for a card with no annual fee and zero APR for new cardholders.

Other Helpful Decision-Making Q&As

If you still have doubts about getting the Chase Southwest Rapid Rewards Performance Bonus card, the following frequently asked questions may provide you with the guidance you need to make an informed decision.

Still not sure about this card? Consider these options.

While you may be interested in getting this card, you may need to compare it with other similar cards to ensure that you get an option that provides you with the most benefits. If you are not looking for the best business cards, you may consider checking out MoneyGeek’s list of the best reward cards, travel cards, gas cards, balance transfer cards and more.