Link: Apply now for the Southwest® Rapid Rewards® Performance Business Credit Card
The Southwest® Rapid Rewards® Performance Business Credit Card is Southwest’s most premium card, and we’ve just seen a massive welcome offer rolled out on it, which is also the card’s best offer of the year. There could be huge merit to picking up this card, especially given the way this welcome bonus could earn you Companion Pass.
Southwest Performance Business Card amazing bonus
The Southwest Performance Business Card currently has an elevated welcome offer where you can earn 120,000 Rapid Rewards bonus points after spending $10,000 within the first three months.
Rapid Rewards is a revenue-based frequent flyer program, and personally, I value Rapid Rewards points at 1.2 cents each. So to me, the 120,000 points are worth $1,440. That’s an incredible offer in and of itself.
It gets better than that, though. Keep in mind that Southwest has Companion Pass, whereby you can have a companion travel with you on any Southwest flight, while paying just taxes and fees. This requires earning 135,000 qualifying points in a calendar year.
Given that the card offers a boost of 10,000 points toward Companion Pass every year, plus that reaching the minimum spending will count toward this, that means qualifying for the bonus will basically get you all the way to Companion Pass. That’s awesome!
Who is eligible for the Southwest Performance Business Card?
Who is eligible for the welcome bonus on the Southwest Performance Business Card? Southwest Airlines and Chase have several co-branded credit cards. As far as Southwest credit card eligibility requirements go, you’re not eligible for the bonus on this card if you currently have it, or if you’ve received a new cardmember bonus on this exact card in the past 24 months.
That means you’re eligible for the bonus on the card even if you have Southwest’s other business card, the Southwest® Rapid Rewards® Premier Business Credit Card (review). Chase’s standard credit card application policies apply.
Why the Southwest Performance Business Card is worth it
The Southwest Performance Business Card has a $299 annual fee, so it’s the highest annual fee card that Southwest has. However, I’d argue that the perks more than justify it, especially if you fly Southwest frequently.
The card offers the following, among other things (note that all the bag, seating, and boarding benefits apply to the cardmember and up to eight companions on the same reservation):
- 9,000 Rapid Rewards bonus points on the account anniversary every year, which should get roughly $108 worth of airfare on Southwest
- A first checked bag free benefit, with bags ordinarily costing $35 each
- The ability to select a complimentary preferred seat at the time of booking; these are seats with standard legroom, located in the front half of the cabin
- The ability to upgrade to an extra legroom seat up to 48 hours before departure, subject to availability; these are seats at the front of the cabin with extra legroom
- A boarding benefit offering Group 5 boarding, with earlier access to the overhead bin
- 10,000 qualifying points toward Companion Pass every year, which can help with qualifying for that useful benefit
- The ability to spend toward A-List status, by earning 2,500 tier qualifying points (TQPs) for every $5,000 spent in purchases annually
- 25% savings on inflight purchases, when charging those purchases to the card
- A Global Entry, TSA PreCheck, or NEXUS fee credit, once every four years (up to $120 as of 10/1/24)
- A solid rewards structure, including 4x points on Southwest purchases, 2x points at gas stations, restaurants, hotel accommodations booked directly with hotels, and local transit and commuting
Read a full review of the Southwest Performance Business Card.
Bottom line
The Southwest Performance Business Card has a massive welcome bonus that can earn 120,000 Rapid Rewards bonus points after spending $10,000 within the first three months, which is the best offer that we’ve seen on the card so far this year. Not only can those points get you a lot of travel, but this bonus can also help you easily unlock Companion Pass, potentially doubling the value of those points.
While this is the Southwest credit card with the highest annual fee, I’d argue it’s also easy to make the math work.
Do you plan on picking up the Southwest Performance Business Card with 120K bonus points?
