Southwest Performance Business card: is the $299 annual fee worth paying?

The fee and what it buys

The Southwest Rapid Rewards Performance Business Credit Card has a $299 annual fee, and it is aimed at business owners who fly Southwest. ^[1] It is the most premium card in the Chase and Southwest co-brand card portfolio. ^[1]

This piece covers the card's welcome offer, earning rates and travel perks, then compares it with the Premier Business card to help you decide which one fits.

Welcome offer and yearly bonus

The welcome offer is 80,000 bonus points after you spend $5,000 on purchases in the first three months from account opening. ^[1] The author values Southwest points at 1.2 cents each, which makes that bonus worth $960. ^[1]

The card also pays an anniversary bonus of 9,000 points every year. ^[1]

How the card earns points

Southwest Airlines purchases earn 4x points per dollar. ^[1] Gas stations and restaurants earn 2x points per dollar. ^[1]

Hotel accommodations booked directly with hotels earn 2x points per dollar, as do local transit and commuting, including rideshare. ^[1] Every other purchase earns 1x point per dollar. ^[1]

Perks for travelers

The card includes a free checked bag for Southwest flights. ^[1] It also provides up to a $120 statement credit for Global Entry, TSA PreCheck, or NEXUS every four years. ^[1]

There are no foreign transaction fees, and adding authorized users costs nothing. ^[1]

Spending on the card also builds toward A-List status. ^[1] Cardholders can earn 2,500 Tier Qualifying Points for every $5,000 spent, while A-List status ordinarily requires earning 35,000 TQPs in a calendar year. ^[1]

The Premier Business card compared

The Premier Business card has a $149 annual fee. ^[2] Its welcome offer is 60,000 points after spending $3,000 on purchases in the first 3 months from account opening, and it gives 6,000 bonus points after each cardmember anniversary. ^[2]

It earns 3X points on Southwest Airlines purchases. ^[2] Gas stations and restaurants earn 2 points per dollar on the first $8,000 in combined purchases per year. ^[2]

On A-List progress, it earns 2,000 tier qualifying points for every $5,000 spent. ^[2] It provides 25% back on Southwest in-flight purchases. ^[2]

The Premier Business card has a balance transfer fee of either $5 or 5% of each transfer, whichever is greater. ^[2] It includes free DashPass membership as a DoorDash benefit and has no foreign transaction fees. ^[2]

What to check before you apply

If you want the welcome bonus, check your history first. Eligibility requires that you have not received a new cardmember bonus on this card in the past 24 months. ^[1] Cardmembers can earn only one welcome bonus every two years with a Southwest business credit card. ^[2]

Chase's 5/24 rule generally prevents approval for a Chase card if you have opened five or more cards in the last 24 months. ^[1]

If you are chasing a Companion Pass, note that the welcome bonus will not count toward Companion Pass qualification starting in 2027. ^[1]