The Southwest Rapid Rewards® Premier Credit Card Business benefits individuals who travel often for business. It is a great tool to collect miles faster. These can be redeemed as payments or help earn the Companion Pass, which can make the $99 annual fee worth it. This credit card is also ideal for international transactions as it does not charge foreign transaction fees. You can even add employee cards at no additional cost. However, it has a high APR, which isn’t great if you plan to carry a balance.
MoneyGeek’s Take
Southwest® Rapid Rewards® Premier Business Credit Card Review
Updated: June 27, 2024
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Southwest® Rapid Rewards® Premier Business Credit Card
Rewards Rate
Earn 3 points per dollar on Southwest Airlines pur...APR
21.49% – 28.49% VariableAnnual Fee
$99Recommended Credit
670-850 (Good to Excellent)- We recommend this Chase credit card to business owners who use Southwest Airlines frequently. While this card charges a $99 annual fee, it comes with a sizable spend-based welcome offer. It also rewards you with 6,000 bonus points after each account anniversary.This card offers 3X points per dollar on Southwest Airlines purchases. It offer 2X points per dollar on Rapid Rewards hotel and car rental partner purchases, and on local transit and commuting, including rideshare services. All other purchases come with 1X points.All cardholders get 25% back on Southwest in-flight purchases and two EarlyBird check-ins each year. You also earn 1,500 tier qualifying points toward A-List status every time you spend $10,000. Using this card outside of the U.S. is perfect because it comes with no foreign transaction fees.
WHY TRUST OUR REVIEWS
MoneyGeek reviewed the Southwest® Rapid Rewards® Premier Business card’s benefits, drawbacks and features using a well-detailed methodology. The process includes the collection of information from the credit card issuers and the Consumer Finance Protection Bureau’s database. To determine the best options for each category, standardized data points were evaluated. MoneyGeek also considered estimated average spend profiles. This review process is done monthly to reflect any changes in credit card details and offers.
Southwest Rapid Rewards® Premier Credit Card Business Overview
MoneyGeek also analyzed the Southwest Rapid Rewards® Premier Credit Card Business card’s bonuses and rewards to help you determine if there are any perks that fit your needs. Here are some of the best bonuses and rewards offered by the card.
>>MORE: CHASE ULTIMATE REWARDS: PROGRAM GUIDE
Quick Take
- 60,000 points after you spend $3,000 on purchases in the first 3 months from account opening and an additional 60,000 points when you spend $15,000 in 9 months.
- Certain purchases do not earn points
- No blackout dates for flights booked with points
- Individual spending limits available for authorized users
Important Card Details
Before proceeding to the Chase Southwest Rapid Rewards Premier Business application, make sure you are familiar with all its features, offers, rates and fees. Take note of the APR, transaction fees, late fees and rewards rate. Compare these with other credit cards to find out if it offers the best perks for you.
Regular APR
The Annual Percentage Rate (APR) for purchases, Chase loans and balance transfers is 21.49% – 28.49%. Cash advance APR is 29.99%. Meanwhile, the default APR is up to 29.99% for those who fail to make minimum payments on the due date and cardholders whose payments were returned unpaid.
Annual Fee
The annual fee for card membership is $99.
Miles Rewards Rate
Making eligible purchases will help you earn miles. This includes 2x for Southwest purchases and 1x for other purchases.
Transaction Fees
There is a 0% foreign transaction fee. For balance transfers, each transaction comes with either a $5 or 5% fee, whichever amount is higher. The transaction fee for cash advances is either $15 or 5%, whichever is greater, per transaction.
Penalty fees
Late and returned payments come with a $40 penalty fee.
Additional Benefits
When shopping for a credit card, it is also important to consider the other features a card offers. For instance, the Southwest Rapid Rewards® Premier Credit Card Business has security protection features that can keep your belongings safe or provide reimbursement if needed.
- Lost luggage reimbursement: Get reimbursement up to $3,000 per passenger if you or a family member’s carry-on luggage is damaged or lost by the carrier.
- Baggage delay insurance: Get reimbursement up to $100 per day for three days for essential purchases, such as toiletries and clothing, if your baggage gets delayed for over six hours because of the carrier.
- Extended warranty protection: Get an additional one-year warranty for items with a U.S. manufacturer’s warranty period of three years or less.
- Purchase protection: Get coverage against theft or damage of new purchases for up to $10,000 per claim and $50,000 per account. The coverage is good for 120 days.
How the Southwest Rapid Rewards® Premier Credit Card Business Compares To Other Cards
Southwest Rapid Rewards® Premier Credit Card Business is a good basic miles business credit card. It can be beneficial, especially for travelers who are looking for a 0% transaction fee and miles rewards. However, it has a high APR. Other credit cards may offer better travel perks and bonuses.
In-Depth Credit Card Comparisons:
How the Southwest Rapid Rewards® Premier Credit Card Business Compares
Southwest® Rapid Rewards® Premier Business Credit Card
- Annual Fee: $99
- Foreign Transaction Fee: 0%
- Regular Purchase APR: 21.49% – 28.49% variable
- Rewards Rate: 2x points for Southwest purchases and 1x point per dollar on other eligible purchases
- Best For: Business travelers frequently using Southwest looking for unlimited rewards seat and 0% transaction fees on international purchases
The Blue Business® Plus Credit Card from American Express
- Annual Fee: $0 See Rates and Fees
- Foreign Transaction Fee: 2.7% per transaction See Rates and Fees
- Regular Purchase APR: 18.49% – 26.49% variable See Rates and Fees
- Rewards Rate: 2x points on first $50,000 spent every year and 1x points thereafter
- Terms Apply
- See Rates and Fees
- Best For: Travelers looking for a card with no annual fee and the ability to earn rewards on business spending
Frequently Asked Questions
What is the average credit score needed to get approved for the Southwest Rapid Rewards® Premier Credit Card Business card?
Generally, having a good to excellent credit score (690 or higher) can help you when applying for a credit card. However, there is no specific information about the credit score requirement for a Southwest Rapid Rewards® Premier Credit Card Business card.
Does the Southwest Rapid Rewards® Premier Credit Card Business card report to all three credit bureaus?
Yes, it does report to all three credit bureaus.
Is the Southwest Rapid Rewards® Premier Credit Card Business application process lengthy? Can you prequalify?
You can finish the application process fast by filling out the form online. For pre-qualification, the credit card issuer determines if you are eligible or not.
What information is needed to apply for the Southwest Rapid Rewards® Premier Credit Card Business card?
You have to provide personal information (full name, date of birth, mother’s maiden name, Social Security Number or individual tax ID number, address, email address, phone number and total gross annual income) and business information (legal business structure, business name, assumed name or DBA, business description, tax ID type and number, business address, number of employees, date of establishment and estimated monthly spend).
Does the Southwest Rapid Rewards® Premier Credit Card Business card have good customer service or satisfaction?
Does the Southwest Rapid Rewards® Premier Credit Card Business card have a mobile app or the option to pay or manage your account online?
Yes, clients can access and manage their accounts online or through the mobile app. You can also pay your bills through these channels.
Does the Southwest Rapid Rewards® Premier Credit Card Business card raise credit limits automatically or charge for limit increases?
You can request a credit limit increase by calling the hotline, but the company can also choose to automatically increase the credit limits of cardholders. There is no charge for limit increases.
Does the Southwest Rapid Rewards® Premier Credit Card Business card offer the option to freeze your credit/account or have other security features?
Yes, you can freeze your credit card account through your online account.
Does Chase offer other credit cards besides the Southwest Rapid Rewards® Premier Credit Card Business card?
Yes. Some of the other options include the Southwest Rapid Rewards Premier card, United Business card, United Club Infinite card, World of Hyatt card, Freedom Unlimited card and more.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
sources
- American Express. "Blue Business Plus Credit Card." Accessed September 7, 2021.
- Chase. "Southwest Rapid Rewards Premier Business." Accessed September 7, 2021.
- Chase. "Southwest Rapid Rewards Premier Business Pricing & Terms." Accessed September 7, 2021.
- Consumer Financial Protection Bureau. "Credit Card Agreement Database." Accessed September 7, 2021.
- J.D. Power. "2020 U.S. National Banking Satisfaction Study." Accessed September 7, 2021.
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
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Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.