Southwest® Rapid Rewards® Premier Business Credit Card Review 

Southwest Rapid Rewards Premier Business Credit Card

If you’re a small business owner with a preference for Southwest Airlines, the Southwest® Rapid Rewards® Premier Business Credit Card is a good way to rack up travel benefits.

You’ll earn points on all your purchases, with extra weight given to Southwest purchases. 

Rapid Rewards points never expire, and they accumulate to let you qualify for a Companion Pass, one of the biggest incentives for using a Southwest Rapid Rewards credit card. Your sign-up bonus provides almost half the points required to earn that benefit.

Quick Facts: Southwest® Rapid Rewards® Premier Business Credit Card

  • Rewards rate: 3x points on Southwest Airlines® purchases; 2x points on Rapid Rewards® hotel and car rental partners and rideshare; 1x points on all other purchases
  • Welcome offer: Earn 60,000 points after spending $3,000 in the first 3 months
  • Annual fee: $99

. . .

Overview of the Southwest® Rapid Rewards® Premier Business Credit Card

If you’re looking for a business credit card that rewards travel on Southwest Airlines, the Southwest® Rapid Rewards® Premier Business Credit Card has a lot to offer. For a reasonable annual fee, you can earn triple rewards on Southwest purchases and double rewards on partner hotel and car rental purchases. 

While this credit card is limited in the way it rewards spending, if you swear by Southwest Airlines, the rewards are quite lucrative. Southwest is unique due to the Companion Pass as well as its reasonably priced fares. 

You’ll get travel perks like early check-ins for flights, discounts on in-flight purchases, and coverage for lost or delayed luggage. And you’ll get a sizable welcome offer that jump-starts your progress towards earning a Companion Pass. 

Pros

  • Earn up to 3 points per dollar
  • All purchases earn points that apply to qualifying for the Companion Pass
  • Points never expire

Cons

  • Purchases like dining, groceries, and gas earn just 1 point per dollar
  • Points aren’t very valuable unless you’re flying Southwest
  • Travel insurance is more limited than with other similar business credit cards

Welcome Offer

As a new cardholder, you’ll receive 60,000 points after meeting the minimum spending benchmark of $3,000 within three months of opening your account. 

You must not already have this card, and you can’t have received a new cardholder bonus in the past 24 months. 

Earning Rewards

Here’s how spending earns you rewards on the Southwest® Rapid Rewards® Premier Business Credit Card

  • 3x points (3 points per $1 spent): Southwest Airlines purchases
  • 2x points: Rapid Rewards hotel and car rentals through partners
  • 2x points: Local transit and commuting costs, including rideshare services
  • 1x points: All other purchases

In addition to your everyday rewards, each year on your account anniversary, you’ll receive another 6,000 points. 

Transactions that don’t earn rewards include balance transfers and cash advances. (And if you’re a gambler, using your Southwest business credit card won’t get you any points on lottery tickets or other betting-related spending.)

Redeeming Rewards

Now let’s get to the fun part: using those rewards! Southwest Rapid Rewards points can be used for rewards like gift cards and merchandise, but the really exciting redemption comes in the form of free and discounted flights. 

You can use your Rapid Rewards points to book Southwest Airlines flights, with the point value of each flight corresponding to the price of the fare (price discounts mean point discounts as well). 

Southwest Airlines offers a fairly wide selection of cities for departures and destinations — more than 100 across the U.S., Mexico, and the Caribbean.  

You can also use points to pay at major retailers, shop for merchandise, book hotels, and try unique events and activities. Statement credits are also an option for rewards redemption if you’re unable to fly or use points otherwise. 

READ MORE: How to Maximize Credit Card Rewards

Earning the Southwest Companion Pass

The Companion Pass is a significant perk of flying with Southwest. It allows you to select a traveling companion to fly (mostly) free on any Southwest flight with you. You’ll pay only taxes and fees starting from $5.60 per one-way flight. 

And by using your Rapid Rewards Premier card, you can earn points that count towards the Companion Pass. Normally, you earn the Companion Pass by flying 100 qualifying one-way flights in a year. But you can also score the pass by earning 135,000 qualifying points in the calendar year. 

The Companion Pass is an awesome benefit and your welcome bonus points provide a big jumpstart to qualifying — you only need to earn another 75,000 points.

READ MORE: The Southwest Companion Pass: Ultimate Guide

Benefits of the Southwest® Rapid Rewards® Premier Business Credit Card

This card has a ton of mainly travel-based benefits for business owners:

  • Receive 6,000 bonus points each year on your card anniversary. 
  • Unlimited Tier Qualifying Points (TQPs). These are earned at a rate of 1,500 TQPs per $5,000 in spending. 
  • Get reimbursed for up to 2 EarlyBird Check-Ins per year. This enables you to check into your flight before the typical 24-hour window. 
  • Save 25% on in-flight services purchased on Southwest flights (as a statement credit). 
  • Transfer points to another Rapid Rewards member or a charity and be reimbursed up to $500 for point transfer fees. 
  • Unlimited rewards seats to over 100 destinations with no blackout dates when you book using Rapid Rewards points. 
  • Lost luggage reimbursement of up to $3,000 per passenger for you or an immediate family member. 
  • Baggage delay insurance of up to $100 per day for up to three days for essential purchases if your bags are delayed by at least six hours. 
  • Extended warranty of one extra year on eligible warranties of up to three years. 
  • Purchase protection for 120 days against damage and theft, at a maximum of $10,000 per claim and $50,000 per account. 
  • No foreign transaction fees.
  • Referral bonuses of 20,000 points for each successful referral to the card (maximum 100,000 points per year).

Learn more about the Southwest® Rapid Rewards® Premier Business Credit Card.

What We Like About the Southwest® Rapid Rewards® Premier Business Credit Card

We like that the Southwest® Rapid Rewards® Premier Business Credit Card enables you to earn substantial Southwest perks, but without the higher fee of its sister card, the Southwest® Rapid Rewards® Performance Business Credit Card.

Benefits like in-flight discounts and early check-ins are pretty appealing if you regularly fly Southwest.

We especially like that you can use Southwest credit cards to earn the Companion Pass, which can help you save a lot of money if you have someone who regularly travels with you.

Lastly, we appreciate that the card offers generous baggage insurance, as well as extended warranty and purchase protection. 

READ MORE: Baggage Delay Insurance: How It Works

What We Dislike About the Southwest® Rapid Rewards® Premier Business Credit Card

While the card is more affordable than Southwest’s other business credit card, it’s not as lucrative in the rewards. Because of that, it’ll take you longer to reach the number of points you’ll need to reach the Companion Pass — which is the biggest benefit of having a Southwest credit card.

The other downside to the Southwest Premier Business is that it’s not as flexible as some other cards if you want to transfer your points to other loyalty programs. While this is fairly normal for an airline-branded card, it also means you need to be extremely loyal to Southwest to get the most out of your rewards.

Finally, it is unfortunate that there is no trip delay, interruption, or cancellation insurance with this card, which some other airline credit cards offer.

Who Should Get the Southwest® Rapid Rewards® Premier Business Credit Card?

If you own a business and fly often with Southwest, the Southwest® Rapid Rewards® Premier Business Credit Card is a great option. It’s relatively low-cost and offers a way to earn points that could get you into the skies for less. 

If you plan to fly mainly on Southwest (and your employees will too) and can earn the welcome bonus, you’ll get a lot of value out of the card. In particular, the Companion Pass is great if you have two people who will frequently fly together. 

Who Shouldn’t Get the Southwest® Rapid Rewards® Premier Business Credit Card?

This Southwest business credit card is not a great option for business owners who need flexibility. If you don’t live or work near a Southwest hub, or plan to fly on a variety of carriers or to destinations not offered by Southwest such as Europe, you’d be better off choosing a different card. 

Also, if you’re not able to meet the spending and/or flying benchmarks to earn a Companion Pass, you might consider other travel rewards cards

Alternatives to the Southwest® Rapid Rewards® Premier Business Credit Card

If you’re not certain whether the Rapid Rewards Premier is the best business credit card for you, check out these alternatives that offer similar benefits. 

Southwest® Rapid Rewards® Premier Business Credit Card vs. Southwest® Rapid Rewards® Performance Business Credit Card

  • Rewards rate: 4x points on Southwest® purchases (including flights, inflight purchases, and Southwest gift cards); 3x points on Rapid Rewards® hotel and car rental partners; 2x points on local transit and commuting, social media and search engine advertising, internet, cable, and phone service; 1x points for all other purchases
  • Welcome offer: Earn 80,000 points after spending $5,000 in the first 3 months
  • Annual fee: $199
Southwest Rapid Rewards Performance Business Credit Card

. . .

If you’re a true Southwest devotee, you may want to consider another card in the Rapid Rewards business family. 

The Southwest® Rapid Rewards® Performance Business Credit Card is the next tier up from the Premier card, with a higher annual fee. 

But for that, you can earn points faster than with the Premier:

  • 9,000 anniversary points versus 6,000 
  • Welcome bonus of 80,000 points versus 60,000 points
  • 4x points on Southwest versus 3x points
  • 3x points on Rapid Rewards hotel and car rental purchases versus 2x points

Plus, you’ll earn 2x points on internet, cable, and phone services, as well as on social media and search engine advertising — bonus categories that you don’t get with the Premier.

You’ll also receive other perks not offered to Premier cardholders, like up to $100 reimbursement for TSA PreCheck or Global Entry, four annual upgraded boardings, and up to 365 in-flight wifi credits per year. 

Learn more about the Southwest® Rapid Rewards® Performance Business Credit Card.

Southwest® Rapid Rewards® Premier Business Credit Card vs. Chase Ink Business Preferred® Credit Card

  • Rewards rate: 3x points on every dollar spent on shipping, advertising with social media and search engines, internet, cable, phone, and travel — up to the first $150,000 spent in combined purchases in these categories; 1x per dollar spent everywhere else
  • Welcome offer: Earn 100,000 bonus points after you spend $8,000 in purchases in the first 3 months
  • Annual fee: $95
Ink Business Preferred Credit Card

. . .

If you’re looking for a more general cashback credit card for your business expenses, the Chase Ink Business Preferred® Credit Card offers flexible travel rewards for a reasonable annual fee. 

You’ll earn 3x points per dollar on the first $150,000 in total purchases on shipping, social media and search engine advertising, telecom services, and travel. 

Your welcome offer is 100,000 bonus points after you spend $8,000 within three months — which is worth $1,000 in cash or $1,250 when redeemed for travel through Chase TravelSM

What’s great about this card is you can transfer points at a 1:1 ratio to a large number of travel partners, including Rapid Rewards. So you can still get great Southwest travel benefits, but also use your points with other airline loyalty programs, as well as three major hotel travel partners. 

Plus, you get robust travel insurance benefits, whereas Southwest’s travel protections are fairly limited. However, you do need to spend more to earn the welcome bonus. 

Learn more about the Chase Ink Business Preferred® Credit Card.

FAQs

Is a Southwest Rapid Rewards card worth it?

Not surprisingly, a Southwest Rapid Rewards credit card is most worth it if you frequently fly Southwest. Depending on which card you choose, you can get perks like discounts on in-flight purchases and free checked bags. 

And with any Southwest credit card, you can use your everyday spending to work towards the Companion Pass, which enables you to invite a travel companion for free for up to two years.

However, if you aren’t loyal to Southwest, a Rapid Rewards card probably won’t be worth it for you.

How do you apply for a Southwest business credit card?

You can apply for a Southwest business credit card online. You’ll need to supply some financial information about both you and your business, including your gross annual income, business structure, business revenue, and estimated monthly spending.

The Bottom Line

If you’re a big fan of Southwest, you’ll probably want to consider the Southwest® Rapid Rewards® Premier Business Credit Card, so you can score points for flights you’re planning to take anyway, collect Southwest-specific perks, and even earn your way up to a Companion Pass.

Or, if you’re a superfan of Southwest, you may even want to consider the Premier’s pricier sister card, Southwest® Rapid Rewards® Performance Business Credit Card, which offers even more rewards and Southwest benefits.

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I'm an award-winning lawyer and personal finance expert featured in Inc. Magazine, CNBC, the Today Show, Business Insider and more. My mission is to make personal finance accessible for everyone. As the largest financial influencer in the world, I'm connected to a community of over 20 million followers across TikTok, Instagram, YouTube, Facebook and Twitter. I'm also the host of the podcast Erika Taught Me. You might recognize me from my viral tagline, "I read the fine print so you don't have to!"

I'm a graduate of Georgetown Law, where I founded the Georgetown Law Entrepreneurship Club, and the University of Notre Dame. I discovered my passion for personal finance after realizing I was drowning in over $200,000 of student debt and needed to take action-ultimately paying off my student loans in under 2 years. I then spent years as a corporate lawyer representing Fortune 500 companies, but I quit because I realized I wanted to have an impact; I wanted to help real people and teach them that you can create a financial future for yourself.

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Advertiser Disclosure

Our aim is to help you make financial decisions with confidence through our objective article content and reviews. Erika.com is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as MileValue.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. This in no way affects our recommendations or article content.

Advertiser Disclosure

Our aim is to help you make financial decisions with confidence through our objective article content and reviews. Erika.com is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as MileValue.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. This in no way affects our recommendations or article content.