Link: Learn more about the Southwest® Rapid Rewards® Performance Business Credit Card
Chase and Southwest have a portfolio of co-branded credit cards. In this post, I’d like to review the Southwest® Rapid Rewards® Performance Business Credit Card, which is the most premium card in this portfolio. With all the changes that have happened at Southwest lately, this card looks very different than in the past. So, is it worth it?
In this post:
Southwest Performance Business Card welcome offer & fee basics
There are lots of things to love about the Southwest Performance Business Card — a solid welcome bonus, excellent perks that can cover the cost of the annual fee, and more. Let’s cover everything you need to know about the card, starting with the bonus, annual fee, and more.
Welcome bonus of 80K Rapid Rewards points
The Southwest Performance Business Card has a welcome bonus where you can earn 80,000 bonus points after spending $5,000 within the first three months.
Southwest Rapid Rewards is a revenue-based frequent flyer program, and I value each point at roughly 1.2 cents, as that’s roughly the rate at which you can redeem points toward flights. So by my valuation, 80,000 Rapid Rewards points are worth ~$960. But as I’ll explain below, it gets even better than that…
Earn Southwest Companion Pass with the bonus
One of the best values in travel is the Southwest Airlines Companion Pass. For those of you not familiar with Southwest’s Companion Pass, it allows someone else to travel with you for the entire year anywhere Southwest flies.
You still have to pay the taxes on their ticket, but the Companion Pass is valid on both award and revenue tickets. You can change your designated companion three times in a year, so you can potentially even use this for different people.
Southwest Companion Pass requires earning 135,000 Rapid Rewards points in a calendar year, though you get a boost of 10,000 points toward that just for having a co-branded Southwest card. Also note that only certain types of points accrual qualify toward Companion Pass, and points earned with Southwest credit cards are among those.
Southwest credit card eligibility restrictions & rules
You’re potentially eligible for the Southwest Performance Business Card if you don’t currently have this card, and if you haven’t received a new cardmember bonus on this card in the past 24 months. You can have any of the Southwest personal cards, and/or the Southwest Premier Business Card, and they won’t impact eligibility for this card.
Beyond that, be aware of the general restrictions on applying for Chase cards.
$299 annual fee & $0 authorized user fee
The Southwest Performance Business Card has a $299 annual fee, making it the highest annual fee Southwest Airlines credit card. However, it also comes with plenty of perks that can justify it.
There is no cost to add authorized users on the card.
Southwest Performance Business Card rewards structure
The Southwest Performance Business Card offers some potentially useful bonus categories, as follows:
- Earn 4 points for every $1 you spend on Southwest Airlines® purchases.
- Earn 2 points for every $1 you spend at gas stations and restaurants.
- Earn 2 points for every $1 you spend on hotel accommodations booked directly with the hotel.
- Earn 2 points for every $1 you spend on local transit and commuting, including rideshare.
- Earn 1 point for every $1 you spend on all other purchases.
The Southwest Performance Business Card has no foreign transaction fees, so it’s a good card to use for purchases abroad. These are some pretty solid bonus categories, though in general, I would only use this card for everyday spending if trying to earn Southwest Airlines Companion Pass or A-List status.
Southwest Performance Business Card perks & benefits
While the Southwest Performance Business Card has a great bonus, the main reason you want to get this card is because of the perks that it offers. For those who fly Southwest with any frequency, the perks should more than cover the annual fee. For those who are frequent Southwest flyers, this card is almost too good to be true.
9,000 anniversary Rapid Rewards bonus points
Just for having the Southwest Performance Card, you’ll receive 9,000 Rapid Rewards points on your account anniversary every year. As I said above, Southwest points can be redeemed for ~1.2 cents each toward airfare, so that’s the equivalent of ~$108 toward airfare annually.
Earn Unlimited Tier Qualifying Points Toward A-List Status
In addition to being able to earn Companion Pass through spending on the card, the Southwest Performance Card also lets you earn unlimited Tier Qualifying Points (TQPs). Specifically, you can earn 2,500 TQPs toward A-List status for every $5,000 spent on the card.
A-List is Southwest Airlines’ version of status, and offers perks like priority boarding, a 25% points bonus, same-day standby, priority check-in and security lane access, and a dedicated phone number.
A-List status ordinarily requires earning 35,000 TQPs in a calendar year, so spending on a Southwest Performance Business Card could help you earn that. Whether or not that’s worth it depends on how much you’d otherwise fly with Southwest.
Global Entry, TSA PreCheck, or NEXUS Credits
For having the Southwest Performance Card you receive a credit towards TSA PreCheck, Global Entry, or NEXUS. You can take advantage of this benefit once every four years. (up to $120 as of 10/1/24)
If you are going to use this perk, I’d highly recommend registering for Global Entry over TSA PreCheck. For those of you not familiar, TSA PreCheck gets you expedited US security screening, while Global Entry gets you expedited US immigration clearance.
Why register for Global Entry and not PreCheck? Because Global Entry also comes with TSA PreCheck, while the inverse isn’t true (signing up for TSA PreCheck doesn’t get you Global Entry).
Is the Southwest Performance Business Card worth it?
If you have a small business and fly Southwest with any frequency, then the Southwest Performance Business Card is a no brainer. To start, the card has an excellent welcome bonus that could get you a lot of travel, and could even help you earn Companion Pass.
On an ongoing basis, the card is worth it as well. It has a $299 annual fee but offers 9,000 points per year (which I value at ~$108) and more. This card should pay for itself for anyone who flies Southwest often.
Business Card Comparison: Performance Vs. Premier
In addition to the Southwest Performance Business Card, Southwest also has the Southwest® Rapid Rewards® Premier Business Credit Card (review). How does that card compare? The Southwest Premier Card:
- Also has an extremely lucrative welcome bonus
- Has an annual fee of $149
- Offers 6,000 points on your anniversary every year
Bottom line
The Southwest Performance Business Card is exceptional. In addition to the solid bonus, the card also offers 9,000 anniversary bonus points, and more. The value of that should add up quickly if you fly Southwest frequently. Please note that some card benefits will expire at the end of 2025.
If you want to learn more about the Southwest Performance Business Card, follow this link.
There are currently no responses to this story.
Be the first to respond.