Is the Southwest Rapid Rewards Premier Business Card Worth It?

The Southwest® Rapid Rewards® Premier Business Credit Card is an entry-level option for small business owners who frequently fly with Southwest Airlines. Priced at an annual fee of $149, this card offers a range of benefits and earning potential that may appeal to those loyal to the airline.

While airline-specific credit cards often come with limited benefits, the Southwest Premier Business Card has recently undergone updates, enhancing its appeal with new day-of-travel perks and modified earning rates. These updates, however, have also resulted in a 50% increase in the annual fee, which now stands at $149.

As Southwest Airlines implements various changes, such as introducing bag fees and updating its boarding process, owning a Southwest credit card could be particularly advantageous. Generally, applicants with credit scores above 670 are more likely to be approved, but it’s not uncommon for those with lower scores to receive approval as well.

For those considering this card, here’s an overview of what you can expect:

Welcome Bonus and Points Value

New cardholders can earn a generous welcome bonus of 60,000 points after spending $3,000 on purchases within the first three months of account opening. According to TPG’s valuations from July 2025, this offer is valued at approximately $840. This is the standard welcome offer for the card, so it may be worth waiting for a potentially elevated offer in the future. Importantly, bonuses from Southwest cards contribute toward qualifying for the Companion Pass, which allows you to fly with a companion for free on Southwest flights after earning the necessary points.

Once obtained, the Companion Pass is valid for the remainder of the year and the following year, making it beneficial to earn it as early as possible in the calendar year.

Eligibility and Application Considerations

Before applying, ensure you check your eligibility, as the card adheres to the Chase 5/24 rule. Additionally, there are restrictions on earning welcome bonuses; if you’ve received a bonus on this card within the last 24 months, you may not qualify again.

Card Benefits and Earning Structure

The Southwest Premier Business Card has an annual fee of $149 and offers several perks that can enhance your travel experience. Among these are:

– Earning Rates: The card allows you to earn points on various purchases, including a recently added bonus category for gas stations and restaurants. However, it’s worth noting that some categories will be expiring soon, including local transit and commuting, which may impact your overall earning potential.

– Redemption Options: The primary use for Rapid Rewards points is for Southwest-operated flights. The redemption process is straightforward: the cost in points corresponds to the flight’s cash price, ensuring consistent value for rewards. When booking flights online, simply select “Points” instead of “Dollars” to view award pricing.

– Tax and Fee Considerations: Keep in mind that redeeming points still requires payment of taxes and fees, which start at $5.60 each way. However, tickets booked with points are fully refundable, and cancellations can be made without penalties as long as they occur at least 10 minutes before departure.

Alternative Options and Recommendations

While the Southwest Rapid Rewards Premier Business Card has its advantages for loyal Southwest flyers, it may not be the best fit for everyone. If you’re looking for more flexible rewards or additional benefits, consider other credit cards such as the Ink Business Preferred® Credit Card or the American Express® Business Gold Card, which might better suit your everyday business spending needs.

For those who travel frequently with Southwest and are looking to maximize their benefits, the Southwest Premier Business Card can be a viable option, especially with the potential to work toward a Companion Pass after meeting the welcome bonus requirements.

In conclusion, the Southwest Rapid Rewards Premier Business Credit Card presents a solid opportunity for small business owners who are frequent Southwest travelers. While its earning structure and ongoing benefits may not be extraordinary, the card’s perks can still make it worthwhile for those committed to the airline. As with any financial decision, it’s crucial to assess your personal travel habits and spending patterns to determine if this card aligns with your goals.

If you’re interested in applying, you can find more details on the Southwest Rapid Rewards Premier Business Credit Card through their official website.