Chase and Southwest have just launched a 2nd business credit card, the Southwest Rapid Rewards Performance Business Card.
Key highlights of this card include:
- 80,000 signup bonus after $5,000 in spend in the first 3 months.
- 3x for every $1 in spend on Southwest purchases
- 2x for every $1 in spend on social media and search engine advertising, as well as internet, cable and phone services.
- 1x for every $1 in spend on all other purchases.
- 4 Upgraded boardings per year
- Inflight Wifi Credits – (up to a total of 365 $8 credits per year for all WiFi transactions!).
- $100 towards Global Entry or TSA PreCheck every 4 years
- 9,000 bonus points on each cardholder anniversary
This card does have an annual fee of $199, but the best part is that if you’re a current cardholder of the Southwest Rapid Rewards Premier Business Credit Card, you’re not excluded from opening this card and receiving the bonus.
What This Means for Southwest Companion Pass
Just like all Southwest Credit Cards, the points earned on this card count towards earning a Companion Pass, so after meeting the minimum spend on this card, you’ll be at a minimum of 85,000 of the required 110,000 points, giving you quite a jumpstart on earning the Companion Pass.
Which also means that this card could be paired with any of the Southwest personal cards (Plus, Premier, or Priority), even at their lower 40,000 point bonuses, to immediately earn a Southwest Companion Pass.
Note that the timing of doing so right now is not ideal. Once earned, Southwest Companion Pass is good for the remainder of the calendar year and the following calendar year. Meaning that if you earn it now you will only get ~16 months of use out of it.
Check out our complete guide to earning the Southwest Companion Pass for 2019 and beyond.
How This Card Stacks Up Vs. Other Chase Business Cards
While this new Southwest Rapid Rewards Performance Business card is an attractive offer, it still doesn’t quite stack up to some of Chase’s other high-end business card offers in our book. The Chase Ink Preferred in particular is a better long term play, earning points that can transfer 1:1 to a handful of airlines and hotels (including Southwest) and also offering an 80,000 point bonus.
But of course you can have both cards if you like.
I think we were all pretty surprised (in the best way possible) to see this card launch this morning while avoiding any rumors and speculation. And on top of that, to see that Chase did not add a restriction on current Southwest business card holders getting this card.
Overall a great day in the points & miles world!
Let us know if you apply for the card!
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