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- Southwest® Rapid Rewards® Premier Business Credit Card
A great miles credit card for international purchases with multiple miles-earning and redeeming opportunities
- 1–2 Points per $1*Rewards Rate
- 21.49% – 28.49% VariableAPR
- $99Annual Fee
- Good–ExcellentRecommended Credit
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.
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.
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 bonus points awarded after you spend $3,000 in the first three 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
- Foreign Transaction Fee: 2.7% per transaction
- Regular Purchase APR: 18.49% – 26.49% 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
Frequently Asked Questions
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.
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