Chase Southwest Premier Business Card Review: Get More Than Halfway to the Best Deal in Travel1st September 2019
INSIDER SECRET: This card comes with a $99 annual fee — but every time you pay it, Southwest will give you 6,000 Southwest points (worth ~$90 toward Southwest flights) for free.
We’re big fans of Southwest here at Million Mile Secrets. With two free checked bags, no change or cancellation fees, friendly customer service and an increasing list of destinations in the US (including Hawaii) and abroad, there is a lot to like.
In addition, the Southwest Rapid Rewards® Premier Business Credit Card is one of the best Southwest credit cards out there — and a fast track to the Southwest Companion Pass, which we crown the best deal in travel.
Here’s our Southwest Premier Business Card review to help you determine if it’s the right card for you.
There are lots of destinations to visit with Southwest, including international locations like the Dominican Republic. (Photo by Valentin Valkov/Shutterstock)
Who Is This Card For?
If you want to stock up on Southwest points, this is the card review for you.
This card caters to business owners, but almost any income you earn outside your regular job will likely qualify you as a business owner. If you sell items on eBay or drive for Uber or Lyft, you can apply for this card.
Further Reading: How to Qualify for a Small Business Credit Card
In other words, you don’t need to be a VP of a multi-million dollar corporation. It’s even possible to qualify for the card as a brand new business owner with almost no business income. You don’t need an Employee Identification Number (EIN) to apply for the card, either. A sole proprietor can just use their name and Social Security number in the application.
The Southwest Premier Business Credit Card falls under Chase’s stricter approval rules. If you’ve opened five or more credit cards within the past 24 months from ANY bank (except Chase business cards and certain other small business cards), you will not be approved for the card.
Similarly, you cannot open a new Southwest Premier Business Card if you currently have the card or have earned a sign-up bonus for the card in the past 24 months.
Further Reading: Chase 5/24 Rule
The card comes with an annual fee of $99. Also, small-business owners who want a cash-back card should consider other cards first, like the Ink Business Cash℠ Credit Card, which is also offering an all-time-high sign-up bonus.
Sign-Up Bonus: Worth At Least $900
The Southwest Premier Business Credit Card comes with a 60,000-Southwest-point sign-up bonus after spending $3,000 on purchases in the first three months. You can redeem that bonus for multiple round-trip flights, and even more if you have the Companion Pass.
Southwest points are, on average, worth ~1.5 cents per point, so the 60,000-point sign-up bonus is worth ~$900 towards travel. And if you have the Southwest Companion Pass, the sign-up bonus could be worth double that.
If you are interested in earning the Companion Pass, the Southwest Premier Business Credit Card is a terrific way to boost your points balance, because both the sign-up bonus and the points earned from spending count toward the 110,000 points required to get the Companion Pass.
Further Reading: Southwest Companion Pass
Main Benefits and Perks
6,000 bonus Southwest points each card anniversary
Every year on your Southwest Premier Business card account anniversary, you’ll earn 6,000 Southwest points (worth ~$90 in Southwest airfare). This perk alone almost completely offsets the $99 annual fee.
And remember, those points are worth nearly double if you are using the Southwest Companion Pass.
Primary rental car insurance
When you rent a car for business purposes, pay for the entire rental with your Southwest Premier Business card, and decline the rental company’s collision damage waiver (CDW), you’ll get primary rental insurance coverage for damage due to theft or collision. You’ll also get primary coverage if you’re renting for personal reasons outside the US or if you don’t have your own automobile insurance. Coverage is secondary in the US if you rent for personal reasons.
This perk can save you money if you rent cars frequently because most car rental companies charge ~$15+ per day for this type of insurance. The Southwest Premier Business card doesn’t include liability coverage, though, so be sure you have your own policy for that or purchase coverage from the rental agency.
In the unfortunate event that you need to file a claim, having automatic primary rental car insurance can save you hundreds, if not thousands, of dollars.
If your checked or carry-on bags are damaged or lost (or those of an employee or your immediate family members), you’re covered up to $3,000 per passenger when you pay with the card. You’re covered up to $500 for each insured person per trip for jewelry, watches, cameras, video recorders, and other electronic equipment.
When you pay with the Southwest Premier Business card, you, your immediate family or employees can be reimbursed for essential purchases like toiletries and clothing for baggage delays over six hours, up to $100 a day for a maximum of three days.
No foreign transaction fees
Nobody likes getting stung with these fees when they travel abroad. The Southwest Premier Business card doesn’t add foreign transaction fees.
With extended warranty, the Southwest Premier Business card extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of three years or less.
You’re covered for a maximum of $10,000 per claim and $50,000 per year. That provides peace of mind when you’re purchasing high-end items like electronics.
The Southwest Premier Business card protects eligible new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
When you use your card to purchase an eligible trip, you’ll receive travel-accident insurance for yourself, immediate family and employees. This includes accidental death, dismemberment and loss of speech, sight, and hearing benefits. See the Chase Southwest Premier Business guide to benefits for full details.
Travel and emergency-assistance services
If you’re traveling and need help in relaying an emergency message back home or need a medical or legal referral, you can call the benefits administrator for help 24 hours a day.
They can also assist with making emergency arrangements for travel, replacing tickets, locating lost luggage, filling prescriptions, and more. Note that this is a referral service only; you’re responsible for all costs.
For a flat service fee per call, you can get roadside dispatch for common problems like:
Towing – up to five miles included
Tire changing – must have good, inflated spare
Jump starting – battery boost
Lockout service (no key replacement)
Fuel delivery – up to five gallons (cost of fuel not included)
Winching (within 100 feet of paved or county maintained road only)
For roadside dispatch, call 800-847-2869. It’s not free, but it’s helpful if you don’t have your own roadside coverage.
For more details on all the protections offered by the card, check out the Chase Southwest Premier Business guide to benefits.
How to Earn Points
This isn’t a great card for everyday spending. Here’s what you’ll earn:
2 Southwest points per dollar on Southwest purchases and Rapid Rewards hotel and car rental partner purchases
1 Southwest point per dollar on all other purchases
And remember, you’ll receive 6,000 bonus points each account anniversary year (i.e. every time you pay the annual fee).
Further Reading: How to Earn Southwest Points
How to Redeem Points
As mentioned above, Southwest points are worth on average 1.5 cents each. But the actual cost for an award ticket on Southwest will depend on your destination, how far in advance you book, time of day and other factors.
Further Reading: Southwest Points Value
If you are flexible with your travel plans, you can find some incredible values. For example, Southwest frequently has sales with fares starting as low as $49 one-way. In that case, you would have to spend just 2,524 Southwest points plus ~$6 in taxes for the flight. That’s a great deal.
$49 Is a Great Deal for a Flight
But That Same Flight Would Cost Just 2,524 Southwest Points
With the 60,000-Southwest-point welcome offer, you could take 23 of these flights from this deal (60,000 points/2,524 points per flight). That’s an incredible value from one credit card sign-up bonus.
Further Reading: How to Use Southwest Points
The Southwest Companion Pass Makes This Deal Even Better
When you earn the Companion Pass, you can bring a friend or family member along on paid and award tickets — for just the cost of taxes and fees.
To qualify for the Companion Pass, you’ll need to earn 110,000 qualifying Southwest points in a calendar year. Points earned from the Southwest Rapid Rewards® Premier Business Credit Card’s 60,000-point sign-up bonus count toward that total.
After earning 110,000 Southwest points, the Companion Pass is valid for the remainder of the calendar year and the entire following year. That means if you earn the Companion Pass now, it will be valid through Dec. 31, 2020.
Further Reading: Southwest Companion Pass
Important note: Chase will only allow you to have one Southwest personal credit card. So the easiest way to earn this bonus is by:
Opening one personal card and one business card and earning their bonuses
Opening both Southwest business cards and earning their bonuses
Using points with the Companion Pass effectively doubles the value of the points. That’s because you can use Southwest points to pay for your ticket and your companion’s ticket will be almost free (you’ll just pay taxes and fees).
So on the flight deal I found earlier, a one-way ticket for both you and your companion would cost a total of 2,524 points plus ~$11 in fees.
And even if your travel plans don’t line up with a Southwest fare sale, the price of an award flight is tied to the cost of a paid ticket, so when fares go down, award prices do too. If you find a deal, you could squeeze several round-trips out of the bonus.
Chase has four other Southwest cards with slightly different perks, benefits and earning rates. You can only hold one personal Southwest card at a time, but if you’re interested, you have the following three personal options and one other business-card option:
Southwest Rapid Rewards® Priority Credit Card – $149 annual fee
Southwest Rapid Rewards® Premier Credit Card – $99 annual fee
Southwest Rapid Rewards® Plus Credit Card – $69 annual fee
Southwest Rapid Rewards® Performance Business Credit Card – $199 annual fee
With the Southwest Rapid Rewards® Premier Business Credit Card, you’ll earn 60,000 Southwest points after meeting minimum spending requirements. This is the highest offer we’ve seen on the card.
This is a small-business card, but you don’t have to be a big corporation to qualify.
The 60,000-Southwest-point sign-up bonus is enough for ~$900 in airfare on Southwest (effectively double if you have the Companion Pass). And the points you earn count toward the 110,000 Southwest points needed to qualify for the Companion Pass, which is our favorite deal in travel.
Let me know if you’ve got this card. And subscribe to our newsletter for more honest credit card reviews in the future.