MoneyGeek’s Take

Southwest® Rapid Rewards® Premier Business Credit Card Review

Business owners who frequently travel on Southwest Airlines may find the Southwest® Rapid Rewards® Premier Business Credit Card an ideal basic credit card. It offers exclusive travel perks for cardholders, allowing them to easily earn unlimited miles and bonus points with eligible purchases.

Advertising & Editorial DisclosureLast Updated: 1/16/2023
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The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

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.

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

Southwest® Rapid Rewards® Premier Business Credit Card at a Glance

The Southwest Rapid Rewards® Premier Credit Card Business card benefits individuals who regularly travel for business. It is a great way to collect miles faster, which you can redeem and use for various transactions. 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 an annual fee of $99 and a high APR. That said, you can avoid dealing with the high APR if you plan your purchases and pay your card off in full every month.


  • Southwest® Rapid Rewards® Premier Business Credit Card

    A great miles credit card for international purchases with multiple miles-earning and redeeming opportunities

    • Good–ExcellentRecommended Credit
    • $99Annual Fee
    • 1–2 Points per $1*Rewards Rate
    • 2xRewards Rate on Air Travel
    • 1xRewards Rate on TV, Phone, Internet Services

    Terms, rates and fees apply

    Compare this credit card with other top–rated cards from our partners.

Pros & Cons Explained

Evaluate the Southwest Rapid Rewards® Premier Credit Card Business card’s benefits and drawbacks to find out if this credit card will be an ideal choice for your needs or not.

Pros

  • Benefits
    Description
  • No foreign transaction fee
    There are no transaction fees for international purchases, making this credit card a great tool if you travel abroad regularly.
  • Free checked bags
    Cardholders do not pay for the first and second checked bags that are within the weight and size limits.
  • Unlimited reward seats
    Earn miles with every eligible purchase and redeem them for unlimited reward seats to more than 100 destinations.
  • Free employee cards
    Get employee cards at no additional cost. You can also set the individual spending limits for each card.

Cons

  • Drawbacks
    Description
  • Annual fee
    There is a $99 annual membership fee.
  • High APR
    Interest rates for transactions are high. APR for purchases, Chase loans and balance transfers are 20.24% – 27.24%. The APR is 29.24% for cash advances and up to 29.99% for penalties.
  • Limited travel perks
    Earning miles and redeeming them for rewards can help make up for the $99 annual fee. However, this is a basic business miles card, so other similar credit cards may offer more rewards and travel perks.
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LOOKING FOR THE BEST CREDIT CARDS OF 2022?

While some individuals may find the Southwest Rapid Rewards® Premier Credit Card Business card’s benefits sufficient, it may not be an ideal choice for others. Your financial situation, needs as a user and spending habits will determine what type of card is right for you. MoneyGeek listed the best business credit cards in 2022 to help you find the best card for your needs.

Bonuses & Rewards Explained

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
1

Welcome bonus

New cardholders can earn 60,000 bonus points if they spend $3,000 on purchases within the first three months.

2

Anniversary bonus

Cardholders receive 6,000 bonus points after every card membership anniversary.

3

Earn miles from eligible purchases

You can earn 2x miles per $1 on Southwest Airlines purchases and 1x point for every dollar you spend on other eligible purchases. You can also earn reward flights with no blackout dates.

4

DoorDash

Cardholders pay $0 for delivery and get reduced delivery charges on eligible orders over $12 in price for one year with DashPass, DoorDash and Caviar’s membership.

Other Features Explained

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.

  • Card Feature
    Description
  • 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.
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MONEYGEEK EXPERT TIP

Southwest Rapid Rewards® Premier Credit Card Business cardholders can avoid baggage fees for their first and second checked bags and are not hit with change fees when traveling on Southwest Airlines if they use their card to pay for their ticket.

Understanding the Fine Print

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.

  • Card Feature
    Amount or Rate
  • APR
    20.24% – 27.24% Variable
  • Annual Fee
    $99
  • Cash Back Rewards
  • Rewards Rate
    1–2 Points per $1*
  • Airline Benefits
  • This is an icon

    Regular APR

    The Annual Percentage Rate (APR) for purchases, Chase loans and balance transfers is 20.24% – 27.24%. Cash advance APR is 29.24%. 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.

  • This is an icon

    Annual Fee

    The annual fee for card membership is $99.

  • This is an icon

    Miles Rewards Rate

    Making eligible purchases will help you earn miles. This includes 2x for Southwest purchases and 1x for other purchases.

  • This is an icon

    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.

  • This is an icon

    Penalty fees

    Late and returned payments come with a $40 penalty fee.

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FINDING YOUR CARD'S RATES AND FEES

When looking for the best credit card, it is important to understand features, rates and rewards. In doing so, you can make proper comparisons and well-informed decisions. If you already have a credit card, you can find information on your latest billing statement, online account or mobile app. Most credit card issuers put important information on their respective websites. You may also check out the credit card agreements database found on the website of the Consumer Financial Protection Bureau.

Who Should & Shouldn’t Consider Southwest® Rapid Rewards® Premier Business Credit Card?

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Other Considerations for Southwest® Rapid Rewards® Premier Business Credit Card

The best credit card for you is the one that fits your needs as a user. Consider whether you will use the Southwest Rapid Rewards® Premier Credit Card Business card as your sole credit card or an additional card in your wallet.

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

The Southwest Rapid Rewards® Premier Credit Card Business card is a good basic card for travelers. You can use it as your first or only credit card. However, be mindful of the high APR. To ensure that you do not accumulate huge expenses, try to pay your bills in full every month. If you think you cannot do that, do not use this credit card for big purchases. To maximize the benefits, make eligible purchases that will help you earn miles.

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

If you already have credit cards in your wallet, review their features and compare them with Southwest Rapid Rewards® Premier Credit Card Business. See if there are certain expenses you can shift to this credit card. For instance, if your other credit cards have foreign transaction fees, use this card for your international purchases. For balance transfers and big purchases, use the credit card with the lowest APR because the Southwest Rapid Rewards Premier Business card has high interest rates.

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WHY TRUST OUR REVIEWS

MoneyGeek reviewed the Southwest Rapid Rewards® Premier Credit Card 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.

How Southwest® Rapid Rewards® Premier Business Credit Card 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:
Quick Comparison of Southwest Rapid Rewards® Premier Credit Card Business
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Southwest® Rapid Rewards® Premier Business Credit Card

  • Annual Fee: $99
  • Foreign Transaction Fee: 0%
  • Regular Purchase APR: 20.24% – 27.24% 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
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The Blue Business® Plus Credit Card from American Express

  • Annual Fee: $0
  • Foreign Transaction Fee: 2.7% per transaction
  • Regular Purchase APR: 17.49% – 25.49% variable
  • Rewards Rate: 2x points on first $50,000 spent every year and 1x points thereafter
  • Best For: Travelers looking for a card with no annual fee and the ability to earn rewards on business spending

Other Helpful Decision-Making Q&As

Understanding the features of the Southwest Rapid Rewards® Premier Credit Card Business card can help you determine if it is right for you or not. Here are answers to some of the frequently asked questions about the card.

Still not sure about this card? Consider these options.

Finding the best credit card requires you to consider various factors. Weigh the pros and cons and compare your options. If you think the Southwest Rapid Rewards® Premier Credit Card Business is not for you, check out MoneyGeek’s selection of best credit cards for travel in 2022.

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*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 aboutour editorial policies andexpert 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.