Southwest® Rapid Rewards® Performance Business Credit Card

Quick Snapshot

• Annual Fee: $199
• APR: 21.24%-26.24% variable
• Rewards: 4X on Southwest purchases, 2X on Rapid Rewards hotel/car partners and local transit/commuting, 2X on internet/cable/phone, 1X on everything else
• Bonus: 80,000 Rapid Rewards points after $5,000 in purchases in the first 3 months
• Best For: Southwest loyalists who fly frequently and want to earn the Companion Pass through business spending
• Credit Needed: Good to Excellent (670+)

Overview

The Southwest Performance Business Credit Card is the top-tier business card for Southwest Airlines loyalists, offering 4X Rapid Rewards points on Southwest purchases and accelerated earning on common business expenses. It earns 2X on Rapid Rewards hotel and car rental partners, local transit and commuting, and internet, cable, and phone services. Everything else earns 1X.

The real power of this card is its contribution toward the Southwest Companion Pass, one of the most valuable perks in the airline industry. Points earned from the sign-up bonus and ongoing spending count toward the 135,000-point Companion Pass threshold. With an 80,000-point welcome bonus, cardholders start more than halfway there. The Companion Pass lets a designated person fly with you for free (plus taxes and fees) on every Southwest flight for the rest of the year and the entire following year.

The $199 annual fee is justified by premium benefits including 9,000 anniversary points (worth about $135 toward Southwest flights), four upgraded boardings per year when available, in-flight Wi-Fi credits, and Global Entry or TSA PreCheck reimbursement. For businesses that fly Southwest regularly, this card pays for itself while building toward one of the best travel perks available.

APR Breakdown

• Purchase APR: 21.24%-26.24% variable
• Balance Transfer APR: N/A
• Cash Advance APR: 29.99% variable
• Penalty APR: Up to 29.99% variable

Note: Your APR will vary with the market based on the Prime Rate. There is no introductory APR offer on this card.

Benefits Overview

Rapid Rewards Earning

• 4X points on Southwest Airlines purchases
• 2X on Rapid Rewards hotel and car rental partner purchases
• 2X on local transit, commuting, and rideshare
• 2X on internet, cable, and phone services
• 1X on all other purchases

Companion Pass Progress

• All earned points including the sign-up bonus count toward the 135,000-point Companion Pass threshold
• 80,000-point bonus gets you more than halfway to the Companion Pass
• Companion Pass lets one person fly free with you on every Southwest flight
• Pass is valid for the rest of the qualifying year and the entire next year

Premium Travel Perks

• 9,000 anniversary points each cardmember year (worth approximately $135)
• Four upgraded boardings per year when available at the gate
• In-flight Wi-Fi credits on Southwest flights
• Global Entry or TSA PreCheck application fee credit (up to $100)
• No foreign transaction fees

Rewards & Points

• 4X on Southwest Airlines purchases
• 2X on Rapid Rewards hotel and car rental partner purchases
• 2X on local transit, commuting, and rideshare
• 2X on internet, cable, and phone services
• 1X on all other purchases

Rapid Rewards points are worth approximately 1.5 cents each toward Southwest Wanna Get Away fares. Points never expire as long as you have earning or redemption activity within 24 months. All points earned count toward Companion Pass and A-List status qualification.

Welcome Bonus

Earn 80,000 Rapid Rewards points after spending $5,000 on purchases in the first 3 months from account opening. These points count toward the Companion Pass threshold of 135,000 points, putting you well over halfway to one of the most valuable airline perks in the industry.

Fees Summary

• Annual Fee: $199
• Balance Transfer Fee: N/A (balance transfers not available)
• Cash Advance Fee: Either $15 or 5% of the amount, whichever is greater
• Foreign Transaction Fee: $0
• Late Payment Fee: Up to $40
• Returned Payment Fee: Up to $40
• Employee Card Fee: $0

Who This Card Is Best For

Ideal For

• Southwest frequent flyers who want to maximize points and perks on their preferred airline
• Companion Pass chasers who want to earn the pass through credit card spending
• Business travelers on Southwest routes who can use upgraded boardings and Wi-Fi credits
• Small business owners who want their business spending to fuel personal and business travel

Not Good For

• Non-Southwest flyers who use other airlines or fly routes Southwest does not serve
• Budget-conscious businesses that cannot justify a $199 annual fee with limited Southwest travel
• International travelers since Southwest flies primarily domestic and select international routes

Key Pros & Cons

Pros

• 80,000-point welcome bonus counts toward the Companion Pass
• 4X earning rate on Southwest purchases is the highest available
• 9,000 anniversary points help offset the annual fee each year
• Four upgraded boardings per year when available
• In-flight Wi-Fi credits save money on connected travel
• Global Entry or TSA PreCheck credit up to $100
• No foreign transaction fees
• Points count toward A-List and A-List Preferred status
• Free employee cards contribute to faster point earning
• Companion Pass is among the best values in airline travel

Cons

• $199 annual fee is the highest among Southwest credit cards
• Points are locked into the Southwest ecosystem with no transfer partners
• Southwest does not fly everywhere, limiting route flexibility
• No 0% intro APR for new purchases or balance transfers
• Upgraded boardings are subject to availability and not guaranteed
• $5,000 spending requirement in three months for the welcome bonus
• Companion Pass requires reaching 135,000 total points in a calendar year
• No premium lounge access included

Alternatives to Consider

How the Rewards Add Up

Example Annual Value

First-year value: approximately $2,172 including the 80,000-point bonus (worth ~$1,200), ongoing earning, and the 9,000 anniversary points. Earning the Companion Pass adds thousands more in value through free companion flights.

Should You Get This Card?

You Should Get It If...

• You fly Southwest Airlines frequently for business and personal travel
• You want to earn the Companion Pass through credit card spending
• You can use the upgraded boardings, Wi-Fi credits, and PreCheck reimbursement
• Your business spending is high enough to reach the Companion Pass threshold quickly
• You travel domestic routes where Southwest has a strong presence
• You want all your business spending to count toward airline status

You Should Skip It If...

• You do not fly Southwest regularly or it does not serve your routes
• You prefer transferable points that work across multiple airlines
• The $199 annual fee is hard to justify given your travel patterns
• You need international travel benefits on airlines with global networks
• You want lounge access or premium international travel perks
• You prefer cash back over airline miles

Apply Now

Apply for Southwest® Rapid Rewards® Performance Business Credit Card

Information accurate as of May 2026. Terms and conditions apply. Please visit the issuer's website for the most current information.