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Need more Rapid Rewards points? You're in luck. Chase just launched a new offer on the Southwest® Rapid Rewards® Performance Business Credit Card (Rates & Fees) worth 120,000 bonus points after you meet the spending requirement.
Based on recent AwardWallet member redemptions, those points are worth about $1,800 toward award travel — matching the best offer we've ever seen on this card. Plus, by the time you earn this sign-up bonus, you'll have earned enough Companion Pass-eligible points to earn the Companion Pass through December 31, 2026!
Here’s what to know about this limited-time deal and the card’s ongoing perks to help you decide if now’s the right time to apply for the Southwest Performance Business Card.
- Earn 120,000 points after you spend $10,000 on purchases in the first 3 months from account opening.
- 9,000 bonus points after your Cardmember anniversary.
- Earn 4X pts on Southwest® purchases.
- Earn 2 points for every $1 you spend at gas stations and restaurants
- Earn 2X points on hotel accommodations booked directly with the hotel
- Earn 2X points on local transit and commuting, including rideshare.
- First checked bag free for Cardmembers and up to 8 additional passengers in the same reservation.
- Cardmembers and up to 8 passengers in the same reservation will board with Group 5 giving them earlier access to overhead bins.*
- Member FDIC
- Rates & 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
Page Contents
Southwest Performance Business Card Offer: 120k Points!
There’s no better time to apply for a card than when the welcome offer is elevated. Right now, the only Southwest business credit card with a boosted bonus is the Southwest Performance Business Card.
Here's the full Southwest Performance Business Card offer: Earn 120,000 Rapid Rewards® bonus points after $10,000 spend in 3 months.
What is the Southwest 120K welcome offer worth?
On average, AwardWallet users redeem Rapid Rewards points for 1.52¢ apiece. That makes the Southwest Performance Business Card‘s 120,000-point offer worth roughly $1,800 toward award travel on Southwest!
However, the sign-up bonuses is likely worth a lot more, considering the 120,000 bonus points you earn from the offer are Companion Pass-qualifying points. The Southwest Companion Pass is one of the best perks in award travel.
Earn the Southwest Companion Pass from this offer
Provided you meet the minimum spending requirement and earn the bonus before the end of 2025, you'll accrue the 135,000 qualifying points necessary for a Southwest Companion Pass. That's because Southwest cardholders get a 10,000 Southwest Companion Pass qualifying point boost each year. Adding in the minimum spending ensures you earn more than the remaining 5,000 points needed.
Those seeking a Companion Pass will want to clear that requirement by late 2025 — but the earlier the better. Once earned, your pass will be valid for the remainder of the year it's earned, plus the following year.
Can you earn the Companion Pass for 2026-2027 through this offer?
Depending on how long this offer lasts, you might be able to lock in the Southwest Companion Pass for almost two full years! In order to pull this off, you'll need to apply after October 1, 2025 — but the later the better. Then, wait until January 1, 2026 to complete your spending requirement.
That way, you'll earn 120,000 in 2026. Add on the 10,000 bonus Companion Pass-qualifying points that Southwest cardmembers receive, and you'll be just a few thousand points away from locking up one of the most valuable perks in travel for all of 2026 and 2027!
Welcome offer restrictions
There are two things to consider before you apply for the Southwest Performance Business Card:
- Are you under 5/24? Chase issues Southwest's business credit cards. 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 tally, you must still be under this threshold to receive approval.
- Have you received a sign-up bonus on the card you're applying for within the last 24 months? If so, you'll be ineligible to receive another bonus. You'll see the same language on both Southwest business credit card applications:
“The new Cardmember bonus offer is only available if you do not have this card and have not received a new Cardmember bonus for this card in the past 24 months.”
Which Southwest Business Credit Card Should I Get?
Southwest offers two business credit cards — the Southwest Performance Business Card and the Southwest® Rapid Rewards® Premier Business Credit Card (Rates & Fees). Right now, only the Southwest Performance Business Card comes with an elevated welcome offer. But that might not automatically make it the best fit for you.
Here’s a side-by-side look at Southwest’s two business cards to help you decide which one makes the most sense.
Southwest Performance Business Card
- Annual fee: $299
- Earning rates: Earn 4 points per $1 spent on Southwest® purchases. Earn 2 points per $1 spent on gas station and restaurant purchases. Earn 2 points per $1 spent on hotel accommodations booked directly with the hotel. Earn 2 points per $1 spent on local transit and commuting, including rideshare. Earn 1 point per $1 spent on all other purchases.
- Key perks available now: First checked bag free for you and up to 8 companions, 25% back on inflight purchases, no foreign transaction fees, up to $120 credit every 4 years for Global Entry, TSA PreCheck, or NEXUS, plus 2,500 A-List qualifying points for every $5,000 spent and 10,000 Companion Pass qualifying points each year.
- New benefits starting in 2026: Complimentary Preferred seat selection at booking, Extra Legroom upgrades within 48 hours of departure when available, and Group 5 boarding for you and up to 8 companions.
- Earn 120,000 points after you spend $10,000 on purchases in the first 3 months from account opening.
- 9,000 bonus points after your Cardmember anniversary.
- Earn 4X pts on Southwest® purchases.
- Earn 2 points for every $1 you spend at gas stations and restaurants
- Earn 2X points on hotel accommodations booked directly with the hotel
- Earn 2X points on local transit and commuting, including rideshare.
- First checked bag free for Cardmembers and up to 8 additional passengers in the same reservation.
- Cardmembers and up to 8 passengers in the same reservation will board with Group 5 giving them earlier access to overhead bins.*
- Member FDIC
- Rates & 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
Related: Southwest Performance Business Card Full Review
Southwest Premier Business Card
- Annual fee: $149
- Earning rates: Receive 6,000 anniversary points each year. Enjoy benefits including 3X points on Southwest Airlines® purchases, First checked bag free, 10,000 Companion Pass® qualifying points boost each year, and more.
- Key perks available now: First checked bag free for you and up to 8 companions, 25% back on inflight purchases, no foreign transaction fees, up to $120 credit every 4 years for Global Entry, TSA PreCheck, or NEXUS, a 15% flight discount each year on your cardmember anniversary (excluding Basic fares), plus 2,000 A-List qualifying points for every $5,000 spent to help you earn status faster.
- New benefits starting in 2026: Complimentary Preferred seat selection at booking, Extra Legroom upgrades within 48 hours of departure when available, and Group 5 boarding for you and up to 8 companions.
- 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
- Rates & Fees
- 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: Southwest Premier Business Card Full Review
Final Thoughts
Whether you’re looking to stock up on Rapid Rewards points, get closer to the Companion Pass, or just enjoy extra perks when flying Southwest — or all of the above — now’s a great time to apply for the Southwest Performance Business Card. On top of the card’s ongoing benefits, you’ll earn 120,000 points after meeting the minimum spending requirement. That matches the best offer we’ve ever seen on this card, so it’s worth jumping on while you can.
For rates and fees of the cards mentioned in this post, please visit the following links: Southwest® Rapid Rewards® Performance Business Credit Card (Rates & Fees), and Southwest® Rapid Rewards® Premier Business Credit Card (Rates & Fees)
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