Is the Southwest Rapid Rewards Premier Business Credit Card Worth the Annual Fee?

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Is the Southwest Rapid Rewards Premier Business Credit Card Worth the Annual Fee?

Andrew WIs the Southwest Rapid Rewards Premier Business Credit Card Worth the Annual Fee?Million Mile Secrets Team

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The Southwest Companion Pass is one of the best deals in travel, letting one other person travel with you for free when you fly Southwest.

One of the most common ways to qualify for this coveted pass is to earn 110,000 Southwest points in one calendar year.  Achieving this will give you a Companion Pass valid through December 31 of the following year.  In other words, your Companion Pass is valid for up to 2 years, depending on when you earn it!

Perhaps the best part?  Receiving the intro bonus on any of Chase’s Southwest cards counts toward that point requirement!

The Southwest Rapid Rewards® Premier Business Credit Card is currently offering a welcome bonus of 60,000 Southwest points after spending $3,000 on purchases within the first 3 months of account opening.  Those points are worth ~$900 in travel, not to mention you’ll also be more than halfway towards qualifying for the Companion Pass!

But through February 11, 2019, there are other ways to earn the Companion Pass much more easily.  So is this card even worth opening at the moment??

Even for Infrequent Flyers of Southwest, the Southwest Rapid Rewards Premier Business Credit Card Still Offers an Insane Amount of Value! Plus, Earning the Intro Bonus Will Get you More Than Halfway Towards Qualifying for the Coveted Southwest Companion Pass!

But if you’re still on the fence as to whether this card is worth it, here are some more details!

Chase Southwest Premier Small Business Card Perks

Apply Here:   Southwest Rapid Rewards® Premier Business Credit Card

Read our review of the Southwest Rapid Rewards Premier Business Credit Card

When you apply for the Southwest Rapid Rewards® Premier Business Credit Card, you can earn a welcome bonus of 60,000 Southwest points after spending $3,000 on purchases within the first 3 months.

As a cardmember, you’ll also be treated to the following perks:

  • 2X points per $1 spent on Southwest and Rapid Rewards hotel and car rental partner purchases
  • 1X points per $1 spent on all other purchases
  • 6,000 bonus points each account anniversary year
  • Free employee cards
  • No foreign transaction fees

There’s a $99 annual fee.

This card is catered towards business owners, but don’t worry because it’s quite easy to meet that requirement!  Pretty much any income you earn outside your regular 9 to 5 job will likely qualify you as a business owner.  So if you sell items on eBay or drive for Uber or Lyft, you can apply for this card!

In other words, you don’t need to be a VP of a large multi-million dollar corporation.  It’s even possible to qualify for the card as a brand new business owner with almost no business income!

Is the Southwest Rapid Rewards Premier Business Card Worth Applying for and Keeping?

There are very few downsides to applying for this card.  The ~$900 value of the welcome bonus far exceeds the $99 annual fee.  So even if you later find out it’s not the best card for your spending patterns, you’ll still have received more than you paid!

You’ll earn 6,000 bonus points each account anniversary year.  That’s roughly worth the same value as the card’s $99 annual fee, making this card a definite keeper, even if you don’t fly Southwest that often.

Even if You Don’t Fly Southwest Very Often, You Should Still Consider This Card!  As a Cardmember, You’ll Receive 6,000 Bonus Points Each Account Anniversary Year.  That’s Almost the Same Value as the Card’s Annual Fee!

You won’t be approved for this card if you’ve opened 5+ cards from any bank (excluding certain business cards) in the past 24 months.  However, it does not count add to your Chase 5/24 count, because it won’t appear on your personal credit report.  From that perspective, it won’t hurt your chances of getting approved for more cards from Chase.

So if you’re eyeing the Companion Pass, you can also earn the welcome bonus on a personal Southwest card after you get your hands on this business card if you’re interested in fast-tracking your way to the Companion Pass.

Easier Ways to Earning the Southwest Companion Pass

Chase also offers 3 Southwest personal credit cards.  And through February 11, 2019, you’ll earn 30,000 Southwest points AND a Companion Pass after spending $4,000 on purchases in the first 3 months of account opening:

While this is the easiest way to earn the Companion Pass, be aware that your pass will only be good through December 31, 2019.  So you’ll only be able to use it for about 10 more months.

If you’re looking to get more life out of the Companion Pass, you’ll want to qualify for the pass the more difficult way, by earning 110,000 Southwest points in a single calendar year.  This method will earn you a Companion Pass valid through December 31, 2020.

And that’s where the Southwest Rapid Rewards® Premier Business Credit Card comes into play, because earning the intro bonus on this card puts you just 50,000 points short of that point requirement!

Bottom Line

You can apply for the Southwest Rapid Rewards® Premier Business Credit Card here, where you can earn a welcome bonus of 60,000 Southwest points after spending $3,000 on purchases within the first 3 months of opening your account.

If you’re a business owner, you’ll definitely want to consider this card, because earning the intro bonus will get you more than halfway towards qualifying for the Companion Pass!

Even if you don’t fly Southwest that often, this card still offers incredible value.  The card’s intro bonus of 60,000 Southwest points is worth ~$900 in flights, which easily offsets the card’s $99 annual fee.  Cardmembers also receive a bonus of 6,000 points each account anniversary year, a bonus valued at nearly the card’s annual fee.

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Southwest Rapid Rewards® Premier Business Credit Card

Southwest Rapid Rewards® Premier Business Credit Card

  • Earn 60,000 points after you spend $3,000 on purchases in the first 3 months your account is open.
  • 6,000 bonus points after your Cardmember anniversary.
  • 2 points per $1 spent on Southwest® purchases and Rapid Rewards® hotel and car rental partner purchases.
  • 1 point per $1 spent on all other purchases.
  • Earn points on employee spending
  • Employee cards at no additional cost
  • No blackout dates when you redeem points, no seat restrictions, bags fly free®, and no change fees
  • No foreign transaction fees

More Info

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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Can you open more than one Southwest Business card if you operate more than one small business?

got the personal card 40k bonus points. Got it just before the 30k+companion offer.

Got the biz card shortly after the personal card after calling the reconsideration line and moving some credit around.

Already hit the spend requirements for both cards. Companion pass should hit with next statement closing.

Too hard to get