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Southwest® Rapid Rewards® Performance Business Credit Card
vs. Southwest® Rapid Rewards® Premier Business Credit Card
Updated: March 19, 2024
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Both the Southwest® Rapid Rewards® Performance Business Credit Card and the Southwest Rapid Rewards® Premier Credit Card Business card offer up to 1,500 tier qualifying points when you spend $10,000 on purchases — which can help you achieve the A-list status. The reward points you earn with these cards can also help you get the Companion Pass.
While both cards offer great value for small business owners, their rewards structure and annual fees are somewhat different. MoneyGeek compared the Southwest® Rapid Rewards® Performance Business Credit Card and the Southwest Rapid Rewards® Premier Credit Card Business card to help you understand the difference between them.
Comparison Overview: Southwest® Rapid Rewards® Performance Business Credit Card vs. Southwest® Rapid Rewards® Premier Business Credit Card
- Southwest® Rapid Rewards® Performance Business Credit CardSouthwest® Rapid Rewards® Premier Business Credit Card
- Has Annual Fee
- Has Balance Transfer Offer
- Has APR Offer
- Cash Back Rewards
- Travel Rewards
Southwest® Rapid Rewards® Performance Business Credit Card At a Glance
The Southwest® Rapid Rewards® Performance Business Credit Card offers four points per dollar spent on Southwest purchases, three points per dollar spent on Rapid Rewards hotel and car rental partners, two points per dollar spent on local transit and commuting (including rideshare), two points per dollar spent on social media and search engine advertising, internet, cable, phone service and one point per dollar spent on all other types of purchases. It also offers 9,000 points each year on your cardmember anniversary.
- Southwest® Rapid Rewards® Performance Business Credit Card
An excellent business card with Southwest and other travel benefits
- 1–3 Points per $1*Rewards Rate
- 21.49% – 28.49% VariableAPR
- $199Annual Fee
- Good–ExcellentRecommended Credit
Pros
- Bonus points on Southwest purchases and specific business expenses
- Rapid Rewards points are valuable and flexible.
- With generous sign-up bonus
- Get anniversary bonus points yearly
Cons
- Annual fee
- Low rewards for non-bonus categories
Introductory Offers
- Earn 80,000 Rapid Rewards points after spending $5,000 within the first three months.
Rewards
- Earn 4X Rapid Rewards points for every dollar spent on Southwest purchases.
- Earn 3X points when booking with Rapid Rewards hotel and car partners.
- Earn 2X points on rideshare, social media, search engine advertising, internet, and phone bills.
- Earn 1 point per dollar on all other purchases.
APRS, Fees, and Penalties
- Annual fee of $199.
- APR ranges from 20.99% - 27.99% variable.
- No foreign transaction fees.
Perks & Benefits
- Four upgraded boardings per year, based on availability.
- 9,000 bonus points after your Cardmember anniversary.
- Up to $100 credit for Global Entry or TSA Precheck application fees every four years.
- Free additional employee cards.
- Secondary insurance coverage for rental vehicles.
- Reimbursement up to $3,000 per passenger for lost luggage.
Southwest® Rapid Rewards® Premier Business Credit Card At a Glance
With the Southwest Rapid Rewards® Premier Credit Card Business card, you earn three points per dollar spent on Southwest purchases, two points per dollar spent on Rapid Rewards hotel and car rental partner purchases, two points per dollar spent on local transit and commuting (including rideshare) and one point per dollar spent on all other eligible purchases. You also earn 6,000 points each year on your cardmember anniversary.
- Southwest® Rapid Rewards® Premier Business Credit Card
A great miles credit card for international purchases with multiple miles-earning and redeeming opportunities
- 1–2 Points per $1*Rewards Rate
- 21.49% – 28.49% VariableAPR
- $99Annual Fee
- Good–ExcellentRecommended Credit
Pros
- No foreign transaction fees
- Earn miles for unlimited rewards
- Introductory and anniversary bonus points
- Free employee cards
Cons
- $99 annual fee
- High APR
- Limited travel perks
- Introductory Offers
- Earn 60,000 points after spending $3,000 in the first three months.
- Rewards
- Earn 3X points on Southwest Airlines purchases.
- Earn 2X points per dollar on rideshare and Rapid Rewards hotel and car partners.
- Earn 1X point per dollar on all other purchases.
- Receive 6,000 bonus points after your cardmember anniversary.
- Perks & Benefits
- Enjoy no blackout dates for flights booked with points.
- Set individual spending limits for authorized users.
- Get two EarlyBird Check-In each year.
Comparison Summary
The Southwest® Rapid Rewards® Performance Business Credit Card vs Southwest Rapid Rewards® Premier Credit Card Business comparison below will help you make a better decision about choosing between both cards.
Card Detail | Comparison Summary |
|---|---|
Travel Coverage and Purchase Protection | The Southwest® Rapid Rewards® Performance Business Credit Card comes with travel accident insurance coverage in case of an accidental death or dismemberment of up to $500,000. It also offers purchase protection in case of theft or damage of up to $10,000 per claim and $50,000 per account on new purchases for up to 120 days. However, the Southwest Rapid Rewards® Premier Credit Card Business card only offers purchase protection. Winner: Southwest® Rapid Rewards® Performance Business Credit Card |
Welcome Bonus | With the Southwest Rapid Rewards® Premier Credit Card Business card, you earn 60,000 points on spending $3,000 on purchases within the first three months of account opening, while the Southwest® Rapid Rewards® Performance Business Credit Card offers 80,000 bonus points on spending $5,000 on purchases within the first three months. Winner: Southwest® Rapid Rewards® Performance Business Credit Card |
Rewards | The Southwest® Rapid Rewards® Performance Business Credit Card offers 4x points per $1 spent on Southwest purchases, 3x points per $1 spent on Rapid Rewards hotel and car rental partners, 2x points per $1 spent on local transit and commuting (including rideshare), 2x points per $1 spent on social media and search engine advertising, internet, cable, phone service and 1 point per $1 spent on all other types of purchases. While the Southwest Rapid Rewards® Premier Credit Card Business card offers 3x points per $1 spent on Southwest purchases, 2x points per $1 spent on Rapid rewards hotel and car rental partner purchases, 2x points per $1 spent on local transit and commuting (including rideshare) and 1 point per $1 spent on all other types of purchases. Winner: Southwest® Rapid Rewards® Performance Business Credit Card |
Annual Fee | The Southwest® Rapid Rewards® Performance Business Credit Card comes with a hefty $199 annual fee, while the Southwest Rapid Rewards® Premier Credit Card Business card charges $99 in annual fees. Winner: Southwest Rapid Rewards® Premier Credit Card Business |
Which Card Should You Get?
While deciding about which type of credit card to get, it’s best to first consider your needs and the value offered by both cards.
Who Should Consider the Southwest® Rapid Rewards® Performance Business Credit Card?
The Southwest® Rapid Rewards® Performance Business Credit Card is best suited for small business owners who are frequent Southwest flyers and want a card which will help them gain great rewards on making business purchases and get closer to achieving the A-list status.
With this card, you’ll earn 2x points per $1 spent on social media and search engine advertising, internet, cable, phone service and 1 point per $1 spent on all other types of purchases.
This card offers up to 1,500 tier qualifying points on spending $10,000 on purchases, which can help you achieve the A-list status.
≫ More: Read Our Full Review
Who Should Consider the Southwest® Rapid Rewards® Premier Business Credit Card?
Small business owners looking for a credit card with a low annual fee may find Southwest Rapid Rewards® Premier Credit Card Business to be the best option.
This card has a $99 annual fee — which is lower compared to other cards of the same category.
This card doesn’t have a foreign transaction fee, which makes it a solid option for use while traveling internationally.
≫ More: Read Our Full Review
EXPERT OPINION
If you fly more than three times per year on Southwest Airlines, it’s likely a better investment to go with the Southwest® Rapid Rewards® Performance Business Credit Card because of the larger welcome bonus and in-flight benefits for only an extra $100. However, if you rarely fly with the airline, the Southwest Rapid Rewards® Premier Credit Card Business is a solid low annual fee business credit card.
Other Helpful Decision-Making FAQs
MoneyGeek gathered the following frequently asked questions which may help you choose between Southwest® Rapid Rewards® Performance Business Credit Card and Southwest Rapid Rewards® Premier Credit Card Business card.
Is the Southwest® Rapid Rewards® Performance Business Credit Card better than the Southwest Rapid Rewards® Premier Credit Card Business card?
The Southwest® Rapid Rewards® Performance Business Credit Card offers more value than the Southwest Rapid Rewards® Premier Credit Card Business. However, it also charges a higher annual fee. But the best card is highly dependent on your business’s financial situation and needs.
Can you get the Southwest® Rapid Rewards® Performance Business Credit Card if you have the Southwest Rapid Rewards® Premier Credit Card Business card?
Yes, you can apply for both cards. However, keep the Chase 5/24 rule in mind, which does not allow you to have any Chase credit card if you have been approved for five or more cards in the last 24 months.
Can you transfer points from Southwest® Rapid Rewards® Performance Business Credit Card to Southwest Rapid Rewards® Premier Credit Card Business?
When you earn Rapid Rewards, they will all be deposited into the same Rapid Rewards account, regardless of which card product you use to earn them.
Can you switch from the Southwest® Rapid Rewards® Performance Business Credit Card to the Southwest Rapid Rewards® Premier Credit Card Business card?
Yes, you can upgrade from the Southwest® Rapid Rewards® Performance Business Credit Card to the Southwest Rapid Rewards® Premier Credit Card Business card.
What’s harder to get, the Southwest® Rapid Rewards® Performance Business Credit Card or the Southwest Rapid Rewards® Premier Credit Card Business card?
It’s equally difficult to get approved for both cards since both of them require you to own a small business and have good to excellent credit scores.
How much do you have to spend on the Southwest® Rapid Rewards® Performance Business Credit Card vs Southwest Rapid Rewards® Premier Credit Card Business to get the welcome bonus?
The Chase Southwest Performance Business requires you to spend $5,000 on purchases, while the Southwest Rapid Rewards® Premier Credit Card Business requires you to spend $3,000 on purchases to get the welcome bonus.
Still Not Sure About These Cards? Consider These Options
Both Southwest® Rapid Rewards® Performance Business Credit Card and Southwest Rapid Rewards® Premier Credit Card Business cards offer great rewards and a welcome bonus for small business owners. However, if you think that these cards do not fit your needs — you can look over the best rewards credit cards to find a better option.
Learn more about credit cards in general
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About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
sources
- Chase Bank. "Southwest® Rapid Rewards® Performance Business Credit Card." Accessed January 3, 2022.
- Chase Bank. "Southwest Rapid Rewards® Premier Credit Card Business." Accessed January 3, 2022.
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.