Heads up! We share savvy shopping and personal finance tips to put extra cash in your wallet. iMore may receive a commission from The Points Guy Affiliate Network. Please note that the offers mentioned below are subject to change at any time and some may no longer be available.
This just in: Southwest will be launching a brand new premium business credit card called the Southwest Performance Business Card (opens in new tab). Successful new applicants will be eligible for 80,000 bonus Rapid Rewards points after spending $5,000 in the first three months. The best part is that these sign up points will be applicable towards Companion Pass! Let's take a look at the earning potential:
- 3x points on Southwest and Rapid Rewards hotel and car bookings
- 2x points on social media and Search advertising
- 2x points on internet cable and phone service
- 1x points on all other purchases
- 9,000 bonus points on every cardmember anniversary
Furthermore, Southwest will waive all foreign transaction fees and cardholders can provide cards to employees at no additional cost. There is an annual fee of $199.
In addition to the above perks, you'll also receive Global Entry or TSA PreCheck credit (up to $100 every 4 years) and inflight WiFi credits ($8 each, up to 365 per year).
Recent analysis shows that Southwest Rapid Reward points are worth 1.5 cents (opens in new tab) per point. This means your sign up bonus is estimated to be worth about $1,200, which is more than 6 times the cost of the annual fee. And your annual card member anniversary bonus of 9,000 points is worth $135, which effectively reduces the annual fee to $64.
If you're a business owner who frequently flies Southwest, there hasn't been a better time to get a Southwest branded credit card. Southwest recently launched routes from the contiguous US to Hawaii as well as between the different Hawaiian islands (opens in new tab) - perfect for your getaway vacations and a great way to use all the points you would earn!
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