Southwest Rapid Rewards® Performance Business Credit Card: A Comprehensive Guide

The Southwest Rapid Rewards® Performance Business Credit Card is a highly beneficial option for small business owners who frequently travel with Southwest Airlines. As part of the broader suite of Southwest’s business credit cards, this premium card offers numerous benefits, from earning Rapid Rewards® points on business-related expenses to access to elite airport lounge facilities. Below, we will explore in detail what makes the Southwest Rapid Rewards® Performance Business Credit Card stand out, how to apply, and the key advantages it offers to business owners.

Key Features of the Southwest Rapid Rewards® Performance Business Credit Card

1. Generous Sign-Up Bonus
   One of the most attractive features of the Southwest Rapid Rewards® Performance Business Credit Card is its generous sign-up bonus. New cardholders can earn 70,000 Rapid Rewards® points after making $5,000 in purchases within the first 3 months of account opening. These points can be redeemed for flights, upgrades, hotel stays, and other travel-related expenses, making this a great way to kickstart your travel rewards.
2. Earning Points
   The Southwest Rapid Rewards® Performance Business Credit Card allows you to earn points on every purchase. Points are earned as follows:
   • 3 points per $1 spent on Southwest Airlines purchases.
   • 2 points per $1 spent on social media and search engine advertising, internet, cable, and phone services.
   • 1 point per $1 spent on all other purchases.
   The emphasis on rewarding purchases made for business-related travel and marketing expenses makes this card particularly valuable for entrepreneurs and small business owners who travel frequently or have significant advertising expenditures.
3. Companion Pass Qualification
   One of the most coveted benefits for frequent Southwest Airlines travelers is the Companion Pass. The Southwest Rapid Rewards® Performance Business Credit Card offers an opportunity to earn this benefit. For every $1.1 million in purchases made in a calendar year, you can earn the Companion Pass, which allows a designated companion to fly with you for free (excluding taxes and fees) on both paid and award flights.
4. Annual Fee
   The Southwest Rapid Rewards® Performance Business Credit Card comes with a relatively high annual fee of $199. While this fee is higher compared to some other business credit cards, it’s important to consider the value of the points, travel benefits, and access to premium features like lounge access, which can offset the cost if used wisely.
5. Travel Benefits
   This card comes with several travel-related perks, including:
   • Free first checked bag on Southwest flights for you and up to 4 companions.
   • Priority boarding on Southwest Airlines flights, which allows you to board early and secure better seats.
   • Access to VIP airport lounges through the Admirals Club® membership, which is offered as part of the cardholder benefits. This is a premium benefit that helps travelers access exclusive lounges at airports across the country, providing a comfortable space to relax before flights.
6. Travel Insurance and Protections
   The Southwest Rapid Rewards® Performance Business Credit Card offers a range of travel protections that can be invaluable in case of unexpected events. These include:
   • Travel accident insurance.
   • Trip cancellation/interruption insurance.
   • Lost luggage reimbursement.
   • Baggage delay insurance.
   These benefits help ensure that your business travels are safeguarded in the event of delays, cancellations, or unforeseen circumstances.
7. No Foreign Transaction Fees
   Business owners who travel internationally will benefit from the no foreign transaction fees feature of the Southwest Rapid Rewards® Performance Business Credit Card. This means you can use the card abroad without incurring additional fees, making it an excellent option for global business travel.
8. Employee Cards at No Extra Cost
   Another notable feature of this business credit card is the ability to add employee cards at no additional cost. This can help a business owner consolidate expenses, track employee spending, and earn points faster on behalf of the business.

How to Apply for the Southwest Rapid Rewards® Performance Business Credit Card

Applying for the Southwest Rapid Rewards® Performance Business Credit Card is straightforward, but as with any business credit card, there are some essential steps and eligibility requirements that potential applicants should be aware of.

1. Eligibility Requirements
   Before applying, ensure that your business meets the following criteria:
   • You must be the owner or an authorized representative of a business (including sole proprietorships, LLCs, or corporations).
   • You must have a valid Employer Identification Number (EIN) or Social Security Number (SSN).
   • You should have a solid credit score (generally, a good to excellent score is recommended).
   • Your business must have some form of regular income to demonstrate the ability to repay any credit lines.
2. Application Process
   To apply, visit the Southwest Airlines or Chase website, as the card is issued by Chase Bank. The application process is completed online and requires you to provide:
   • Basic business information (such as business name, type, and address).
   • Financial details (including annual revenue and tax ID).
   • Your personal information, including SSN and contact details.
   Be sure to gather the necessary documents beforehand to streamline the process, such as proof of business income, your business tax returns, and any other financial information.
3. Approval and Card Issuance
   Once your application is submitted, the approval process usually takes only a few minutes, though it can take up to 2 weeks in some cases, depending on the details provided. If approved, your Southwest Rapid Rewards® Performance Business Credit Card will be mailed to you, and you can start using it immediately.

Conclusion

The Southwest Rapid Rewards® Performance Business Credit Card offers excellent value for business owners who are loyal Southwest Airlines customers and travel frequently for business. The combination of lucrative rewards on travel and business expenses, along with premium benefits like lounge access, priority boarding, and travel protections, makes it an attractive choice for entrepreneurs looking to maximize their spending power and streamline their travel experiences.

While the $199 annual fee is a consideration, the substantial sign-up bonus, ongoing rewards, and business-specific benefits can make it a smart investment for those who can fully utilize its perks. Whether you’re traveling for business or enjoying leisure trips with your companion, this card can be a valuable asset for your business and travel needs.

To apply, simply visit the Chase or Southwest website, complete the application, and start earning rewards for your business expenses.