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The Southwest® Rapid Rewards® Premier Business Credit Card (Rates & Fees) is a practical option for small business owners who fly Southwest at least a few times per year. It comes with a manageable annual fee, an anniversary points bonus, a free checked bag benefit, no foreign transaction fees, and several travel and purchase protections that can make it more useful than a basic airline card.
This card can also play a role in earning the Southwest Companion Pass, thanks to its welcome bonus and annual Companion Pass-qualifying points boost. But even if Companion Pass isn’t your goal, the Southwest Premier Business Card can still be worth considering if you want Southwest perks without stepping up to the airline’s pricier business card.
Let’s take a closer look at what this card offers and when it makes sense.
- 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.
- Earn 3X points on Southwest Airlines® purchases.
- Earn 2 points for every $1 you spend at gas stations and restaurants on the first $8,000 in combined purchases per year
- First checked bag free for Cardmembers and up to 8 additional passengers in the same reservation.
- Select a Standard or Preferred seat within 48 hours prior to departure, when available.
- Cardmembers and up to 8 passengers in the same reservation will board with Group 5 giving them earlier access to overhead bins.
- No foreign transaction fees.
- Member FDIC
- 3X points per $1 spent on Southwest® purchases
- 2X points per $1 spent at gas stations and restaurants on the first $8,000 in combined purchases per year
- 1X point per $1 spent on all other purchases
Southwest Premier Business Card Pros
- Free checked bag
- Primary rental car insurance
- 6,000 anniversary bonus points
- No foreign transaction fees
Southwest Premier Business Card Cons
- Charges a $149 annual fee
- The best use of Rapid Rewards points is limited to Southwest flights
Southwest Premier Business Card Welcome Bonus
New Southwest Premier Business Card cardholders earn 60,000 points after you spend $3,000 on purchases in the first 3 months your account is open.
On average, AwardWallet users redeem Rapid Rewards points for 1.1-1.2 cents apiece. At that rate, this welcome bonus is worth around $720 toward award travel booked through Southwest.
In addition to the value you get from the bonus, those 60,000 points are also a large portion of the required 135,000 points for earning a Southwest Companion Pass. Add in the 10,000 Companion Pass-qualifying point bonus for cardholders, and you're more than halfway to earning buy-on-get-one-free travel on Southwest.
Add this sign-up bonus to a sign-up bonus on another Southwest credit card in the same calendar year to get most of the way toward earning the Southwest Companion Pass. Plus, you can hold both Southwest business cards at the same time — although you can only hold one Southwest personal card at a time.
Southwest Premier Business Card Benefits
Bonus points toward Southwest Companion Pass
If you want to earn the Southwest Companion Pass, you're fighting with a handicap if you don't have a Southwest credit card. Southwest credit cardholders get 10,000 bonus Companion Pass qualifying points each calendar year.
This allotment effectively reduces the Companion Pass requirement to 125,000 points — which you can chop away using the Southwest Premier Business Card‘s 60,000 points sign-up bonus plus the additional spending you put on the card.
First checked bag free
Cardholders, plus up to eight travelers on the same reservation, will receive their first checked bag free. Cardholders utilizing the Companion Pass will also have their free bag benefit confer to the person traveling as their companion, even though it is a separate reservation.
You don't need to pay any part of the airfare with the card; you only have to be a cardholder with your Rapid Rewards number attached to the reservation. With checked bags starting at $45 each, this can be a huge cost-saving benefit.
Seat selection
Likewise, Southwest Premier Business Card cardholders will enjoy seat selection benefits. Although they cannot choose a seat for free at booking, cardholders can choose a Preferred or a Standard seat within 48 hours before flight departure (if available). This benefit also extends to up to eight passengers on the same reservation.
Related: Southwest Seat Selection: What It Costs
Annual 15% off promotion code
Cardmembers with a Southwest Premier Business Card will receive one 15% promotion code each account anniversary year. This code is valid for one year but cannot be used on a Basic fare. There is no cap on this code, so using it for multiple passengers on the same booking can really add up.
No foreign transaction fees
One way of saving money when traveling overseas is to be sure you're not racking up any extra fees by using a card that imposes foreign transaction fees. The Southwest Premier Business Card does not charge foreign transaction fees, so it's a safe bet to use outside the United States.
Related: Best Rewards Credit Cards With No Foreign Transaction Fees
Anniversary bonus points
Cardholders earn 6,000 bonus points on every card anniversary. Based on the average redemption value of 1.2¢ apiece, these Rapid Rewards points are worth over $72 — which helps offset the card's $149 annual fee.
25% back on inflight purchases
While there's not exactly a lot to buy on board a Southwest flight, cardholders will receive a 25% rebate on internet and drinks purchased on Southwest flights with their card.
Earn Tier-Qualifying Points through spending
Southwest Premier Business Card holders earn 2,000 tier-qualifying points for every $5,000 spent on the card. These tier-qualifying points count toward earning Southwest A-List status, which includes benefits like:
- Group one boarding.
- One free checked bag.
- Up to Preferred seat selection at time of booking
- Priority Lane and Express Lane (where available).
- 25% bonus points earnings.
- Dedicated A-list phone line.
- Same-day standby.
Rapid Rewards members must earn 35,000 Tier-Qualifying Points in a calendar year to earn Southwest A-List status. You'd need to spend $90,000 in a calendar year to earn this status through card spending alone. That means you're likely going to need to use card spending bonuses to top off what you otherwise earn through flying Southwest.
Free employee cards
There is no cost to add employee cards to your account. Money spent on these cards earns points toward the original cardholder's account.
Travel protection benefits
The Southwest Premier Business Card has many travel protection benefits because of its Visa Signature designation. They include:
- Primary Rental Car Insurance: Covers up to $60,000 in theft and collision damage for most rental vehicles when you decline the rental company’s insurance and pay with your card.
- Roadside Assistance: Provides services like towing, lockout assistance, and tire changes. Costs for services are your responsibility.
- Lost Luggage Reimbursement: Offers up to $3,000 per traveler to repair or replace carry-on and checked baggage if lost, damaged, or stolen during a covered trip.
- Baggage Delay Insurance: Reimburses up to $100 per day, for up to 3 days, for essentials like toiletries and clothing when baggage is delayed over 6 hours.
- Travel and Emergency Assistance: Provides help during travel emergencies, including referrals for medical, legal, or translation services. Costs for third-party services are your responsibility.
- Travel Accident Insurance: Offers up to $500,000 in coverage for accidental death or dismemberment during a covered trip paid for with your card.
Purchase protection benefits
The Southwest Premier Business Card also offers purchase protections and extended warranties for purchases made with the card. They include:
- Purchase Protection: Covers new purchases against theft or damage for 120 days from the date of purchase, up to $10,000 per item.
- Extended Warranty Protection: Extends eligible warranties by one additional year when the original warranty is three years or less.
Southwest Premier Business Card Earning Rates
When using the Southwest Premier Business Card, you'll earn Southwest Rapid Rewards points at the following rates:
- 3X points per $1 spent on Southwest® purchases
- 2X points per $1 spent at gas stations and restaurants on the first $8,000 in combined purchases per year
- 1X point per $1 spent on all other purchases
Related: The Best Rewards Credit Cards for Each Spending Category
Redeeming Points With the Southwest Premier Business Card
Far and away, the best use of Southwest Rapid Rewards points is for booking Southwest flights. To redeem points for Southwest flights, you simply need to select “points” instead of “$” when searching for flights on Southwest's website:
The more cash a flight costs, the more it will cost when redeeming points. Southwest uses an exact formula to convert the base cash fare into a points price. However, the exact redemption rate will vary due to differences in taxes and fees.
Southwest offers a low-fare calendar, which comes in handy when trying to find the best redemption options for your trip. You can select this when searching for flights, and you'll get a calendar view of the price for each date.
Because Southwest doesn't charge change fees (unless a Basic fare is booked), you can reprice your flights over and over again after booking, potentially earning back some of the points you initially spent.
Southwest Premier Business Card Application Restrictions
The Southwest Premier Business Card is issued by Chase, which is famous (or infamous) for its 5/24 rule. This rule dictates that you will not be approved for a Chase card if you've opened five or more cards from any bank in the last 24 months. While most business credit cards don't add to your 5/24 count, you do need to be under this number to be approved.
This is important to remember since Chase offers some of the best rewards credit cards available, so it's ideal to pick your credit cards wisely. If you're currently at or over 5/24, you'll want to wait until you have less than five credit card approvals in the last two years before applying.
Other lesser-known credit card application restrictions make it unlikely that you'll be approved for more than one business card from Chase in less than 90 days or two cards — business or personal — within 30 days. This means that if you're trying to earn a Companion Pass through credit cards, you'll need to space your applications at least 30 days apart.
You also cannot receive the bonus on this card if you currently have this card or have received a bonus on this card in the last 24 months. Luckily, you could even hold this card and Chase's other Southwest business card — Southwest Performance Business Card — at the same time.
Related: How to Check Your Chase 5/24 Status for Free
Cards That Compete with the Southwest Premier Business Card
Before settling on the Southwest Premier Business Card, you may find it helpful to compare other options. Here are some of the card's closest competitors:
- If you want a Southwest card with more benefits, consider the Southwest® Rapid Rewards® Performance Business Credit Card (Rates & Fees). This card currently charges a $299 annual fee, and includes a TSA PreCheck, NEXUS, or Global Entry statement credit, earns 4X on Southwest purchases, and has better seat selection benefits. See our full review of the Southwest Performance Business Card for more details.
- If you want transferrable points that can be used with Southwest and other airlines, consider the Ink Business Preferred® Credit Card (Rates & Fees). This card currently offers 100,000 points after you spend $8,000 on purchases in the first 3 months from account opening. It has a low annual fee of $95 and lets you transfer points to all of Chase's transfer partners — which include Southwest. See our full review of the Ink Preferred to learn more.
- If you like to fly overseas, consider the United℠ Business Card (Rates & Fees). United has a vast international network, which is much larger than Southwest's. The United Business Card earns up to 110,000 bonus miles and 2,000 PQP after you spend $5,000 on purchases in the first 3 months your account is open. Card perks include a first checked bag free, two United Club passes per year, and a $125 annual travel credit — which makes up for the $150 ongoing annual fee. See our full review of the United Business Card for everything you need to know.
$299Rates & Fees
- 4X points per $1 spent on Southwest® purchases
- 2X points per $1 spent at gas stations and restaurants
- 2X points per $1 on hotel accommodations booked directly with the hotel
- 2X points per $1 spent on rideshare
- 1X point per $1 spent on all other purchases
$95Rates & Fees
- 3X points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year
- 1X point per $1 on all other purchases
$150Rates & Fees
- 2x on United® purchases*
- 2x on local transit and commuting — including train tickets, taxicabs, mass transit, tolls and ride share services
- 2x at gas stations, restaurants and office supply stores
- 1x on all other purchases
Related: Best Small Business Credit Cards
Bottom Line
If you like to fly Southwest but can't stomach the higher annual fee on the Southwest Performance Business Card, the Southwest Premier Business Card card is a great option. The welcome bonus can get you a significant way toward earning a Southwest Companion Pass. Plus, the card includes a handful of useful benefits on Southwest, and the cardholder anniversary bonus offsets a good portion of the annual fee.
- 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.
- Earn 3X points on Southwest Airlines® purchases.
- Earn 2 points for every $1 you spend at gas stations and restaurants on the first $8,000 in combined purchases per year
- First checked bag free for Cardmembers and up to 8 additional passengers in the same reservation.
- Select a Standard or Preferred seat within 48 hours prior to departure, when available.
- Cardmembers and up to 8 passengers in the same reservation will board with Group 5 giving them earlier access to overhead bins.
- No foreign transaction fees.
- Member FDIC
- 3X points per $1 spent on Southwest® purchases
- 2X points per $1 spent at gas stations and restaurants on the first $8,000 in combined purchases per year
- 1X point per $1 spent on all other purchases
Page Contents
- Southwest Premier Business Card Pros
- Southwest Premier Business Card Cons
- Southwest Premier Business Card Welcome Bonus
- Southwest Premier Business Card Benefits
- Bonus points toward Southwest Companion Pass
- First checked bag free
- Seat selection
- Annual 15% off promotion code
- No foreign transaction fees
- Anniversary bonus points
- 25% back on inflight purchases
- Earn Tier-Qualifying Points through spending
- Free employee cards
- Travel protection benefits
- Purchase protection benefits
- Southwest Premier Business Card Earning Rates
- Redeeming Points With the Southwest Premier Business Card
- Southwest Premier Business Card Application Restrictions
- Cards That Compete with the Southwest Premier Business Card
- Bottom Line
For rates and fees of the cards mentioned in this post, please visit the following links: Southwest® Rapid Rewards® Premier Business Credit Card (Rates & Fees), Southwest® Rapid Rewards® Performance Business Credit Card (Rates & Fees), Ink Business Preferred® Credit Card (Rates & Fees), and United℠ Business Card (Rates & Fees)
