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Southwest has introduced a model new premium credit card for small business house owners. The card, the Southwest Rapid Rewards Performance Business Card, options a wide range of new perks and points-earning advantages, and options the highest-ever factors sign-up bonus on a Southwest credit card: 80,000 Rapid Rewards factors once you spend $5,000 within the first three months.
The factors earned from the sign-up bonus are greater than two-thirds of the full factors wanted to earn Southwest’s coveted Companion Pass.
Although Southwest and Chase collectively launched a premium private credit card final 12 months, bringing the full variety of private playing cards within the portfolio as much as three, there has solely been one small business card accessible — the Southwest Rapid Rewards Premier Business Credit Card.
Southwest loyalists ought to discover the business card price exploring for 2 causes.
First, the definition of “business” is broad, and contains classes some folks could not notice, similar to freelancers, folks with aspect gigs, and even individuals who resell objects on eBay — even with out a formal business construction in place, these customers can apply with their identify because the business identify, and their Social Security quantity because the business identification quantity.
Second, Chase phrases assist you to get the sign-up bonus on one private card and one business card, that means you may get each. The private playing cards at the moment provide a sign-up bonus of 40,000 factors once you spend $1,000 within the first three months. If you get the bonus from the Performance Business Card plus any private card, you may have sufficient factors for Southwest’s Companion Pass, which lets a chosen pal or member of the family journey with them free of charge (minus any taxes), for an entire 12 months.
To earn the Companion Pass, one has to earn 110,000 qualifying factors with Southwest inside a calendar 12 months. The go will then be legitimate for the rest of that calendar 12 months, in addition to the whole lot of the next one.
Points earned from a Southwest credit card rely — together with sign-up bonuses.
The Performance Business Card has an annual charge of $199, however provides a number of advantages to make up for that.
The card earns 3x factors per greenback spent on Southwest flights and lodge or automobile rental companions, and 2x factors on social media and search engine promoting, web, cable, and telephone providers. It earns 1x level on every thing else.
Cardholders can even get 4 upgraded boardings per 12 months, 9,000 anniversary factors annually when the card renews (that alone is price about $135, primarily based on The Points Guy’s subjective valuations), in-flight Wi-Fi credit, and as much as $100 in credit for Global Entry or TSA PreCheck.
Ultimately, the new Performance card provides an glorious ongoing worth, however the sign-up bonus makes it a no brainer for Southwest loyalists who qualify. It’s unclear whether or not the bonus will stay completely, or if it is solely accessible for a restricted time, so customers ought to contemplate making use of on the earlier aspect.