Southwest Rapid Rewards® Premier Business Credit Card Review

The world of credit cards can be overwhelming, with a plethora of options available to suit various financial needs and lifestyles. For frequent travelers, especially those who prefer Southwest Airlines, the Southwest Rapid Rewards® Premier Business Credit Card offers a compelling value proposition. In this comprehensive review, we will delve into the various facets of this card, exploring its rewards, benefits, fees, and overall value to help you make an informed decision.

Southwest Rapid Rewards® Premier Business Credit Card Review

The Southwest Rapid Rewards® Premier Business Credit Card, issued by Chase, is designed with the frequent business traveler in mind. Tailored for those who often find themselves flying with Southwest Airlines, this card offers a robust rewards program that can significantly enhance the travel experience. Let’s take a closer look at what this card has to offer.

Rewards Structure

The rewards structure of the Southwest Rapid Rewards® Premier Business Credit Card is crafted to maximize points accumulation for Southwest Airlines enthusiasts. Here’s a breakdown of the earning potential:
– 3x Points per $1 Spent on Southwest Airlines® Purchases: Every dollar spent directly with Southwest Airlines earns you three Rapid Rewards points. This is a substantial earning rate for those who frequently book flights, upgrade seats, or purchase in-flight services with the airline.
– 2x Points per $1 Spent on Rapid Rewards Hotel and Car Rental Partner Purchases: When you book accommodations or car rentals through Southwest’s Rapid Rewards partners, you’ll earn double points. This is particularly useful for business travelers who often need lodging and transportation.
– 2x Points per $1 Spent on Local Transit and Commuting, Including Rideshare Services: In a world where rideshare services like Uber and Lyft are becoming the norm, earning double points on these expenses can add up quickly.
– 1x Point per $1 Spent on Everyday Purchases: All other purchases earn one point per dollar, ensuring that you’ll still accumulate rewards on your routine spending.

Sign-Up Bonus

One of the most enticing features of this card is the generous sign-up bonus:
– 60,000 Bonus Points: After spending $3,000 on purchases within the first three months of opening your account, you’ll be rewarded with a hefty 60,000 bonus points. These points can be a substantial boost to your Rapid Rewards balance and can be redeemed for flights, hotel stays, car rentals, and more.

Annual Fee

– $99 Annually: The card comes with a $99 annual fee. While this fee is not waived for the first year, the benefits and rewards offered by the card can easily offset this cost, especially for frequent travelers.

Variable APR

– 21.49% – 28.49% Variable: The purchase APR for this card ranges from 21.49% to 28.49% variable, depending on your creditworthiness. It’s crucial to manage your balance wisely to avoid high-interest charges.

Southwest Rapid Rewards® Premier Business Credit Card Key Takeaways

To help you quickly grasp what makes the Southwest Rapid Rewards® Premier Business Credit Card stand out, here are the key takeaways:
– Generous Rewards Program: Earn 3x points on Southwest Airlines purchases, 2x points on Rapid Rewards hotel and car rental partner purchases, 2x points on local transit and commuting, and 1x point on everyday purchases.
– Lucrative Sign-Up Bonus: Earn 60,000 bonus points after spending $3,000 in the first three months.
– Annual Fee: $99 annually, with significant value potential for frequent travelers.
– APR Range: 21.49% – 28.49% variable APR for purchases.
– Additional Benefits: Includes lost luggage reimbursement, baggage delay insurance, and no foreign transaction fees.

Southwest Rapid Rewards® Premier Business Credit Card Pros and Cons

Every credit card comes with its advantages and potential drawbacks. Let’s weigh the pros and cons of the Southwest Rapid Rewards® Premier Business Credit Card to provide a balanced perspective.

Pros

1. High Earning Potential on Southwest Purchases:
– Earning 3x points per dollar on Southwest Airlines purchases can lead to rapid accumulation of rewards, making it an excellent choice for loyal Southwest travelers.
2. Generous Sign-Up Bonus:
– The 60,000 bonus points offer a strong incentive for new cardholders and can be redeemed for a variety of travel-related expenses.
3. No Foreign Transaction Fees:
– This is a significant advantage for international travelers, as it eliminates the typical 2-3% fee on purchases made abroad.
4. Additional Travel Protections:
– Benefits like lost luggage reimbursement and baggage delay insurance provide peace of mind during travel.
5. Anniversary Bonus Points:
– Cardholders receive 6,000 bonus points each year after their cardmember anniversary, adding further value.

Cons

1. Annual Fee:
– The $99 annual fee may be a deterrent for some, although the card’s benefits can easily offset this cost for frequent travelers.
2. High Variable APR:
– With a variable APR ranging from 21.49% to 28.49%, carrying a balance on this card can become expensive, making it less suitable for those who don’t pay off their balance in full each month.
3. Limited Earning Categories:
– While the card offers excellent rewards on Southwest purchases and certain travel-related expenses, the categories for earning accelerated points are relatively narrow.

Southwest Rapid Rewards® Premier Business Credit Card Benefits

Beyond the rewards program, the Southwest Rapid Rewards® Premier Business Credit Card offers a suite of benefits that can enhance your travel experience and provide additional value.

Travel Benefits

1. 25% Back on In-Flight Purchases:
– When you use your card to purchase in-flight drinks, Wi-Fi, or messaging services on Southwest Airlines flights, you’ll receive 25% back in the form of a statement credit.
2. Lost Luggage Reimbursement:
– If your checked or carry-on luggage is damaged or lost by the carrier, you’re covered up to $3,000 per passenger. This benefit can be a lifesaver in the unfortunate event of lost or damaged luggage.
3. Baggage Delay Insurance:
– If your baggage is delayed for more than 6 hours by a passenger carrier, you can be reimbursed for essential purchases like toiletries and clothing, up to $100 per day for three days.
4. No Foreign Transaction Fees:
– As mentioned earlier, this benefit is invaluable for international travelers, as it allows you to make purchases abroad without incurring additional charges.

Purchase Protection

1. Purchase Protection:
– Eligible new purchases made with the card are covered against damage or theft for 120 days, up to $10,000 per claim and $50,000 per account. This added security can be particularly beneficial for high-value items.
2. Extended Warranty Protection:
– The card extends the manufacturer’s warranty by an additional year on eligible warranties of three years or less. This can provide extra peace of mind when making significant purchases.

Account Management

1. Online Account Management:
– Chase offers a user-friendly online portal where you can manage your account, track your spending, and pay your bill. This convenience makes it easy to stay on top of your finances.
2. Customer Service:
– Chase is known for its excellent customer service, providing reliable support for cardholders. Whether you need to resolve a dispute or inquire about benefits, customer service representatives are available to assist you.

How to Maximize the Southwest Rapid Rewards® Premier Business Credit Card

To get the most out of your Southwest Rapid Rewards® Premier Business Credit Card, consider the following strategies:

Focus on Southwest Purchases

With 3x points per dollar spent on Southwest Airlines purchases, it’s beneficial to use this card for all Southwest-related expenses. This includes not only flights but also in-flight purchases and upgrades.

Leverage the Sign-Up Bonus

The 60,000 bonus points can be a significant boost to your Rapid Rewards balance. Be sure to meet the $3,000 spending requirement within the first three months to take advantage of this lucrative offer.

Utilize Partner Benefits

Take advantage of the 2x points on Rapid Rewards hotel and car rental partner purchases. Booking through these partners can help you accumulate points more quickly.

Take Advantage of Travel Protections

Make use of the card’s travel protections, such as lost luggage reimbursement and baggage delay insurance, to safeguard your travel experience.

Avoid Interest Charges

With a high variable APR, it’s crucial to pay off your balance in full each month to avoid interest charges. This will help you maximize the value of your rewards without incurring additional costs.

Conclusion

The Southwest Rapid Rewards® Premier Business Credit Card offers a robust rewards program and a suite of travel benefits that can be highly valuable for frequent Southwest Airlines travelers. With 3x points on Southwest purchases, a generous sign-up bonus, and no foreign transaction fees, this card is tailored to enhance the travel experience.
While the $99 annual fee and high variable APR may be considerations for some, the card’s benefits and rewards can easily offset these costs for those who travel frequently with Southwest Airlines. By leveraging the card’s rewards structure, utilizing partner benefits, and taking advantage of travel protections, cardholders can maximize their value and enjoy a more rewarding travel experience.
In summary, the Southwest Rapid Rewards® Premier Business Credit Card is a compelling option for business travelers who have a strong affinity for Southwest Airlines. Its combination of rewards, benefits, and protections make it a valuable tool for enhancing your travel and managing your business expenses.