Southwest Rapid Rewards Performance Business Credit Card

Rewards by category

Our take

The Southwest Rapid Rewards Performance Business Credit Card is the top of Chase's Southwest business line. Purchases made directly with Southwest earn 4x points, and hotels booked directly with the hotel, gas stations, restaurants, and local transit and commuting each earn 2x, with 1x on everything else. At the 1.3-cent valuation SwipeCaddy uses for Rapid Rewards points, that 4x is worth about 5.2% back on Southwest spending and the 2x categories about 2.6%.

The $299 annual fee is applied to your first billing statement rather than waived, so the perks have to carry it from day one: 9,000 anniversary points every year, 10,000 Companion Pass qualifying points each calendar year, 2,500 tier qualifying points for each $5,000 spent, a Global Entry, TSA PreCheck or NEXUS credit of up to $120 every four years, and employee cards at no extra cost. The welcome offer is 80,000 points after $5,000 in purchases in the first three months.

Read the rewards agreement carefully, because it still prints three rates that expired on December 31, 2025 — 3x with Rapid Rewards hotel and car rental partners, 2x on social media and search engine advertising and on internet, cable and phone services, and 4x on Southwest Cruises. Chase's own marketing bullets have dropped all three, and SwipeCaddy does not model expired rates. In a small wallet this is a Southwest specialist: send flights, hotel stays booked direct, fuel, meals and rideshares here, and let a flat-rate business card handle the 1x remainder. There are no foreign transaction fees.

The math

Run $400 a month of dining through this card and you're earning about $125 a year at our conservative valuations. Against the $299 annual fee, that top rate needs roughly $4,175 a month of dining spend before it beats a no-fee flat 2% card.

Store bonuses

• Southwest Airlines4x

Key benefits

• 9,000 anniversary points each year
• Complimentary Preferred seat selection at booking, when available
• First checked bag free for you and up to 8 passengers on the same reservation
• Unlimited upgrades to an Extra Legroom seat within 48 hours of departure, when available
• Group 5 boarding on Southwest flights
• 25% back on Southwest inflight purchases as a statement credit
• 2,500 tier qualifying points for each $5,000 spent annually
• 10,000 Companion Pass qualifying points boost each calendar year
• Global Entry, TSA PreCheck or NEXUS application fee credit of up to $120 every 4 years
• Employee cards at no additional cost
• No foreign transaction fees

Common questions

Does Southwest Rapid Rewards Performance Business Credit Card have an annual fee?

Yes — $299 per year.

What does Southwest Rapid Rewards Performance Business Credit Card earn on dining?

2x on dining.

What rewards does Southwest Rapid Rewards Performance Business Credit Card earn on everything else?

1x on all other purchases, in Southwest Rapid Rewards.

Does the Performance Business card still earn 3x with Rapid Rewards hotel and car rental partners?

No. That rate ran only through December 31, 2025 and has lapsed, along with 2x on advertising and on internet, cable and phone services and the 4x on Southwest Cruises. The clauses still appear in the rewards agreement, which is why listicles keep repeating them, but Chase's product page no longer advertises any of them. SwipeCaddy models only the rates that are live today.

Is the $299 annual fee waived for the first year?

No. Chase states that the $299 fee is applied to your first billing statement. What offsets it is recurring: 9,000 anniversary points each year, 10,000 Companion Pass qualifying points, tier qualifying points on your spending, a Global Entry or TSA PreCheck credit of up to $120 every four years, and free employee cards, plus the 80,000-point welcome bonus after $5,000 in the first three months.

Related reading

• How we value points and miles (and why our numbers are lower than everyone else's)SwipeCaddy ranks cards by reward rate × a conservative cash value per point: 1¢ for cash back and transferable points (Chase, Amex, Citi, Capital One, Bilt), 1.1–1.3¢ for airline miles, 0.4–1.4¢ for hotel points, and 0.8–0.9¢ for store currencies. Optimistic transfer values are recorded for context but never ranked, because most people never achieve them.