In 2019, Southwest introduced a new small business credit card: the Southwest Rapid Rewards Performance Business Card.
And it came with a super HIGH bonus: 80,000 points after a $5,000 minimum spend in the first three months.
They have now MATCHED that original bonus, so you can once again earn 80,000 points with a $5,000 minimum spend on this card.
That adds up to 85,000 points once you earn 1 point per $1 for the minimum spend as well.
That 85,000 of the 125,000 point you need to earn the Southwest Companion Pass.
The Southwest Companion Pass lets one person fly FREE with you from the time you earn it until the END of the FOLLOWING year, so if you earn it now, your pass would be good through December 31, 2022.
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Southwest Rapid Rewards Performance Business Card Breakdown
Here are the details about this card:
Bonus offer: 80,000 points with a $5,000 minimum spend in 3 months; earn another 30,000 points after a $25,000 spend in 6 months
Annual fee: $199
Offer end date: Unknown
- 3 points per $1 on Southwest purchases
- 2 points per $1 on social media and search engine advertising, Internet, cable and phone services
- 1 point per $1 on all other purchases
- 9,000 anniversary points (these DO qualify for the Companion Pass)
- 4 upgraded A1-15 boardings every year (purchase with your card and then you’ll get a statement credit)
- $100 TSA PreCheck or Global Entry credit every four years
- Free WiFi by purchasing $8 WiFi and getting a statement credit (up to 365 per year)
- 1,500 tier-qualifying points for each $10,000 spend up to 15,000 for A-List and A-List Preferred elite status
Southwest says to allow up to eight weeks for the bonus points to post to your account after meeting the minimum spend.
Check out 7 AMAZING ideas for how to use the 80,000 points that come with this card’s first minimum spend bonus.
The Current BEST Path to a Southwest Companion Pass
This card is SUPER helpful to get you a Southwest Companion Pass.
First, complete the minimum spend of $5,000 to get 85,000 points (80,000 bonus + 5,000 points for your minimum spend at 1 point per $1) on the Southwest Performance Business.
There’s also still the $199 annual fee.
Then you could apply for a personal Southwest card (assuming you don’t already have one and have not earned a bonus on ANY Southwest personal card in the last 24 months), all of which currently have a bonus of 65,000 points after a $2,000 minimum spend in the first 3 months (offer ends July 14, 2021) and let’s just say a $99 annual fee (they range from $69-$149).
Simply meet the the $2,000 minimum spend in the first 3 months to get 67,000 points (65,000 for meeting the minimum spend + 1 point per $1 earned on the $2,000).
Now we’re at 85,000 points + 67,000 points (at least) for a total of 152,000 points and only $7,268 with minimum spends and annual fees.
Option 2 to Get a Southwest Companion Pass
Here’s another possibility…
If you don’t yet have both Southwest business cards and/or have not earned a bonus on each card within the last 24 months, you’re eligible to apply and hold BOTH business cards (unlike the Southwest personal cards, where you are only allowed to hold one).
This is a good option if you have already earned the bonus on a Southwest personal card in the last 24 months.
- Spend $5,000 and earn 80,000 points (+ 5,000 points for meeting the minimum spend at 1 point per $1) on the Southwest Performance Business for a $199 annual fee
- Spend $3,000 and earn 60,000 (+ 3,000 points for meeting the minimum spend at 1 point per $1) on the Southwest Premier Business for a $99 annual fee
That gives us 148,000 points for spending just $8,298 on your everyday expenses.
That gives us a Southwest Companion Pass AND 148,000 points to spend on free flights. Yep!
There’s another option if you don’t want to go for 2 business cards. It’s not as good of a deal, but it’s still a better deal than spending $25,000 to get 30,000 points.
Can I Qualify for a Small Business Card?
The key here is that you have an “intention” to make a profit, but you can have ANY kind of side hustle (as well as a small business) and be approved for a business card.
- Selling furniture on Facebook Marketplace
- Selling items on Ebay or Amazon
- Charging up Bird or Lime scooters
- Driving Uber or Lyft
- Renting real estate
- Mowing lawns
You can be approved as a sole proprietor, which means you operate under your social security number.
You may be initially DECLINED for this card.
Don’t panic! I was declined for Southwest’s other business card and I’ve had a corporation for more than 15 years!
Simply call the Reconsideration Line and find out what the problem is.
They may just want to see more paperwork (that’s what they needed from me; the IRS paperwork above) or you may have applied for more than 1 card in 30 days. Either way, you can still be approved!
Can I Apply for This Card If I Already Hold a Southwest Business Card?
The good news is that ANYONE can qualify for this card EVEN if you currently have a Southwest business card or earned a bonus on another Southwest business card in the last 24 months.
The restrictions only state you can’t be approved for this card if you already hold THIS card or earned a bonus on THIS card specifically in the last 24 months.
Things to Keep in Mind When Applying for This Card
- Chase will NOT approve you if you’ve applied for more than 1 of their cards in 30 days. So wait until 30 days have passed after you last applied for a Chase card before applying for this one. Some readers have had success going to a Chase bank, if you bank with them, to bypass this 30-day rule and get approved for more than 1 card within 30 days.
- Chase will not approve you if you’ve opened 5 or more cards from ANY bank in the last 24 months (excluding Chase, Citi an AMEX business cards). To see where you fall on 5/24 (ie how many cards you’ve opened in the last 24 months), check out Travel Freely, a FREE way to manage your credit cards and track 5/24, which I highly recommend, and a Go to Travel Gal partner.
- You can hold BOTH business cards. You won’t be eligible for this card bonus only if you’ve already earned it within the past 24 months.
Otherwise, if you have good credit, you should be good! Sometimes they will decline you if you have a lot of Chase cards. If that is the case, call the Reconsideration Line and ask if they can reduce credit extended to you on other cards in order to give you some credit on this one.
These are nice-sized bonuses that grant you easy points for free flights and that qualify for the Southwest Companion Pass.
I love the high anniversary miles, TSA Precheck/Global Entry credit and A1-15 upgraded boardings on the Performance card for just another $100/year.
Together those will make back the $199 annual fee!
I also like that you can earn double points on Internet, cable, phone and social media advertising.
- 5 Amazing Southwest Airlines Destinations for Your Next Vacation
- Reader Question: Can I Refer Myself to Apply for a Southwest Card?
Thanks again for using the links in this post or the CREDIT CARDS links in the main menu of GotoTravelGal.com for your card applications!