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Southwest business cards are currently offering their largest intro bonus yet. To get the full 120,000 Rapid Rewards Points, you'll need to spend $15,000 in purchases in your first nine months. That's a value of $1,800 when redeemed for travel; it's one of the best deals in the competitive world of rewards credit cards right now.
Plus, with the Southwest® Rapid Rewards® Performance Business Credit Card, you get 9,000 "anniversary points" each year (worth about $135). This yearly benefit softens the pain of a $199 annual fee, meaning you'll spend about $64 a year to own this card.
Southwest business card overview
- Sign-up bonus: Earn up to 120,000 points. Earn 80,000 points after you spend $5,000 on purchases in the first 3 months from account opening and an additional 40,000 points when you spend $15,000 in 9 months.
- Rewards rates:
- Four points per dollar on Southwest® purchases.
- Three points per dollar on Rapid Rewards® hotel and car rental partners.
- Two points per dollar on rideshare, social media and search engine advertising, internet, cable, and phone services.
- One point per dollar on all other purchases.
- Annual benefits: Four upgraded boardings when available and 9,000 bonus points after your Cardmember anniversary.
- Other benefits: Add employee cards at no cost. There's no limit to the amount of employee cards you can request, and their cards also earn points.
- Redemption: Points may be redeemed for travel on Southwest Airlines or through its Rapid Rewards program; points may also be redeemed for gift cards, merchandise, and entertainment.
- Interest rate: 21.49% to 28.49% variable APR for purchases and balance transfers.
- Annual fee: $199.
- Foreign transaction fee: None, so this is a good card to use abroad.
- Member FDIC
FAQs
Is the Rapid Rewards loyalty program free?
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Yes, joining Southwest's loyalty program, Rapid Rewards, is free.
Do the points expire?
No, Rapid Rewards points do not expire. If you close your account, however, you'll forfeit the points.
Are there blackout dates?
There are no blackout dates or seat restrictions on Rapid Rewards points.
How much is a Rapid Rewards point worth?
A recent Bankrate valuation shows that each point is worth 1.5 cents when redeemed for travel. That means that 1,000 points are worth up to $15.
Where does Southwest fly?
Southwest flies throughout the U.S. (including Hawaii, but not Alaska), Mexico, the Caribbean and most of Central America. Southwest does not partner with other airlines, so these aren't the points that will get you a European vacation.
How far can I fly with the 120,000-point bonus?
The points required for each flight will vary according to distance, time of day and other factors. When you book with points, you must also pay taxes, fees, and other government or airport-imposed charges of at least $5.60 per one-way trip.
How is the program improving in 2024?
Southwest recently modified the Rapid Rewards program to make it easier for members to achieve elite status. You can earn A-List status by flying one-way 20 times in a year (down from 25) and A-List Preferred status by flying one-way 40 in a year (down from 50).
Is the Rapid Rewards travel app any good?
The Southwest Mobile App won the second-best airline travel app ranking in the J.D. Power 2023 U.S. Manufacturer Website Evaluation Study.
Other cards to consider
The intro offer on the Capital One Venture X Business card is 150,000 bonus miles, worth between $1,500 and $2,775 when redeemed for travel. To qualify for the offer, you'll need to spend $30,000 on the card in the first three months. Although Southwest is not one of Capital One's travel partners, the Capital One Miles are very flexible. You may get reimbursed for travel on any airline for up to 90 days after you have traveled.
If you want a co-branded Southwest card but don’t feel comfortable paying $199 per year for an airline credit card for your business, consider the Southwest® Rapid Rewards® Premier Business Credit Card. This card will cost you just $99 per year, yet you’ll earn the same sign-up bonus and a similar rewards rate.
Rewards cards dos and don'ts
As with any rewards credit card, be sure to weigh these benefits against fees — a $199 annual fee in this case — and make sure you understand how to use the card effectively. That said, $199 should be mostly offset if you travel enough to use the anniversary bonus points.
Reward credit cards are great if you use them wisely. However, always pay them off in full each month to avoid interest, which can dwarf the gain. And don't spend any more than usual to hit any trigger. The last thing you want to do is chase credit card rewards when you're in debt.
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