Southwest® Rapid Rewards® Premier Business Credit Card review

If you’re looking for an airline credit card that offers points you can actually use, look no further than the Southwest Rapid Rewards Premier Business credit card. This card doles out points that belong in the Rapid Rewards frequent flyer program, which features no blackout dates, no capacity controls, and a fare-based redemption system that makes it easy to shop for the best deal.

The card itself can be a valuable addition to any business owner’s wallet — especially the first year. Business owners who sign up for the card can earn a bonus of 60,000 points after they use their card for $3,000 in purchases within the first three months of your account is open.

With the Southwest Rapid Rewards Premier Business credit card, your points will never expire as long as your card account is open. A 6,000-point bonus is also offered on your cardmember anniversary, making it easier to keep this card for the long haul. This card does charge a $99 annual fee that is not waived the first year.

Earnings rate is poor for regular purchases

While the Southwest Rapid Rewards Premier Business credit card has a slew of benefits, the rate you’ll earn rewards just got a significant update. Once you sign up for this card, you’ll earn 3 points for every dollar you spend with Southwest airlines, 2 points for every dollar you spend on Rapid Rewards hotel and car partners and on rideshare and 1 point per dollar on other purchases you make with the card.

Even more ways to earn points

On the plus side, the Southwest Rapid Rewards shopping portal lets you rack up rewards for regular purchases. To earn extra points at stores like Sephora, H&R Block and Macys, you only need to log into your account and click through the portal before you make a purchase. Meanwhile, Rapid Rewards Dining offers yet another way to rack up points at participating restaurants nationwide.

Finally, it’s crucial to note that Southwest partners with the Chase Ultimate Rewards program. If you have certain premier Chase travel credit cards, you can transfer points you earn to your Southwest account 1:1. This partnership offers yet another way to earn more points and more free flights.

This card’s earning structure has improved some to allow for other travel expenses not just with the airline, but it’s helpful to know there are additional ways to rack up more points over time.

Boosted introductory bonus

The Southwest Rapid Rewards Premier Business credit card is offering a bonus of up to 60,000 points after you spend $3,000 on purchases in the first three months from account opening. This is easily one of the best bonuses you could get on a business rewards card. We peg its value at up to $900 based on Bankrate’s latest airline mile valuations, which give Rapid Rewards points an estimated value of about 1.5 cents each.

Use your rewards freely and with few restrictions

While the Southwest Rapid Rewards Premier Business credit card is ideal for individuals who fly with the airline, it’s important to note you can redeem your rewards for more than flights. You can cash in points for gift cards, hotel stays, merchandise, car rentals and even cruises (though the redemption value is poor for most of these options).

If you do decide to redeem for airfare, you’ll find that Southwest’s policies are more than fair and designed to save you money and time. The airline requires no change fees if you want to change your flight or dates — even if you pay with points.

You can book one-way flights and open jaw flights with your rewards, and there is no booking fee ever. Finally, Southwest offers two free checked bags per person whether you pay in cash or points, which works out to $200 in average savings for a family of four per round-trip flight.

Limited flight network

While Southwest Rapid Rewards is ideal if you want to score free flights, don’t forget this airline doesn’t fly all over the globe. Southwest flies within the U.S. and to select destinations in the Caribbean and Mexico. For that reason, this rewards card is ideal for someone who travels where Southwest flies but less than helpful for everyone else.

Rewards have limited value

While Rapid Rewards are easy to earn and redeem, there’s one downside that comes with redeeming this airline currency – its limited redemption value. We value Southwest points at 1.26 cents each, which is less than the 2 cents per point or more you can get with many frequent flyer programs.

Other card benefits

If you’re in it for the perks, the Southwest Rapid Rewards Premier Business credit card comes with plenty of “extras” including no foreign transaction fees, no cost for additional employee cards, secondary car rental insurance, lost luggage reimbursement, travel accident insurance, travel and emergency services, extended warranties, purchase protection and baggage delay insurance.

Also keep in mind that the Southwest Rapid Rewards Premier Business credit card can help you earn the Southwest Companion Pass — a benefit that lets a designated companion fly free with you whether you pay with points or cash. Currently, you need to earn 125,000 points in a single year to qualify for the pass. The good news is that the sign-up bonus on this card will get you almost halfway there.

Why get the Southwest Rapid Rewards Premier Business credit card?

• You want a huge sign-up bonus good for a few free flights.
• You are interested in flying domestically or to the Caribbean.
• You have a premier Chase credit card and plan to transfer points to your Southwest account to boost your balance even more.
• You want frequent flyer points that are easy to use with no hoops to jump through.

How to use Southwest Rapid Rewards Premier Business credit card:

• Use your card to pay for all of your Southwest flights to earn 3 points per dollar.
• Spend $3,000 within three months of account opening to score the 60,000 point sign-up bonus.
• Refer a friend to any Southwest card to earn an additional 10,000 bonus points (50,000 points per year).

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