Quick Verdict

The Southwest Performance Business Credit Card is the secret weapon for earning Southwest's Companion Pass quickly and efficiently. With a higher anniversary bonus than personal cards, exemption from Chase's 5/24 rule, and the ability to combine with personal Southwest cards, it's essential for serious Southwest travelers and business owners seeking maximum value from their spending.

Card Overview

The Southwest Rapid Rewards Performance Business Credit Card targets business owners and entrepreneurs who want to maximize Southwest benefits while maintaining separation between business and personal expenses. Beyond standard business card benefits, it serves as a crucial component in advanced Companion Pass earning strategies that can unlock thousands in travel savings.

Annual Fee: $99
Welcome Bonus: 50,000 points after $3,000 spending in 3 months
Earning Rate: 3x points on Southwest purchases, 2x on select categories, 1x elsewhere
Key Benefits: 9,000 anniversary points, business expense tracking, employee cards
Credit Score Needed: 680+ recommended
Business Requirements: Legitimate business activity (sole proprietorship acceptable)

Key Features and Benefits Analysis

9,000 Annual Anniversary Points

The Performance Business card provides 9,000 Southwest points every year on your cardmember anniversary—the highest anniversary bonus in Southwest's entire credit card lineup. At Southwest's average value of 1.35 cents per point, this bonus is worth approximately $122 annually.

Competitive advantage: The business card provides 3,000 more anniversary points than the Premier personal card and 1,500 more than the Priority personal card. This extra annual value helps justify business card consideration even for smaller businesses.

Companion Pass impact: These anniversary points count toward Companion Pass qualification, providing 7.2% of the required 125,000 points automatically each year.

Chase 5/24 Rule Exemption

The Performance Business card doesn't count toward Chase's 5/24 rule, which restricts approval for applicants who've opened 5+ credit cards from any issuer in the past 24 months. This exemption makes it valuable for active credit card users who might be locked out of personal cards.

Strategic value: You can hold both the Performance Business card and a Southwest personal card simultaneously, maximizing welcome bonuses and anniversary points for accelerated Companion Pass earning.

Application timing: Apply for the business card first to preserve personal card slots under 5/24, then apply for a personal Southwest card to complete the two-card strategy.

Business Expense Management

The Performance Business card provides year-end summaries and categorized spending reports that simplify business expense tracking and tax preparation. These features help justify business card ownership beyond just the Southwest benefits.

Practical benefits:

• Automatic expense categorization
• Annual spending summaries for tax filing
• Separate business credit profile building
• Employee card management (up to 10 cards)

Enhanced Earning Structure

Like personal Southwest cards, the Performance Business earns 3x points on Southwest purchases and 2x points on select categories, ensuring business travelers get maximum value from their Southwest spending.

Business spending optimization: The 3x Southwest earning rate applies to business travel, making it ideal for entrepreneurs and business owners who fly Southwest for work purposes.

Everyday business categories: The 2x earning on categories like internet, cable, and phone services often align with business expenses, providing additional value beyond just travel spending.

Two-Card Companion Pass Strategy

The Performance Business card's most valuable feature is its role in the fastest legal Companion Pass earning strategy available to individual travelers.

The Strategy Explained

Step 1: Apply for Southwest Performance Business card

• Earn 50,000 welcome bonus points
• Doesn't count toward 5/24 rule

Step 2: Apply for Southwest personal card (Premier or Priority)

• Earn another 50,000 welcome bonus points
• Total: 100,000 points from welcome bonuses

Step 3: Meet additional spending requirements

• Spend to earn remaining 25,000+ points needed
• Typically requires $18,500-25,000 additional spending across both cards

Timeline: Most applicants can earn Companion Pass within 3-6 months using this strategy.

Real-World Example

Sarah, a small business owner, executed this strategy in early 2024:

• January: Applied for Performance Business card
• February: Met $3,000 spending requirement, earned 50,000 points
• March: Applied for Premier personal card
• April: Met $1,000 spending requirement, earned 50,000 points
• May-July: Spent additional $22,000 across both cards for business expenses
• Result: Earned Companion Pass by August, valid through December 2025

Annual value: Sarah's Companion Pass saves approximately $1,200 annually on flights for her and her husband, providing massive ROI on the $198 combined annual fees.

Earning Structure Analysis

The Performance Business card mirrors the earning rates of premium personal Southwest cards while providing business-specific benefits and tracking.

Southwest purchases (3x points): All Southwest flights, EarlyBird check-in, Southwest Vacations, and related services earn triple points, maximizing returns on business travel.

Select categories (2x points): Internet, cable, phone services, local transit, and Rapid Rewards partners earn double points. These categories often align with business expenses, providing additional earning opportunities.

All other purchases (1x points): Standard earning on general business expenses makes this primarily a Southwest and business-focused card rather than an everyday spending solution.

Business spending advantage: The card's earning structure particularly benefits businesses with significant Southwest travel expenses, internet/phone bills, and transportation costs.

Business Card Benefits and Features

Employee Card Management

Issue up to 10 employee cards at no additional cost, each earning points toward the primary account. This feature helps businesses centralize travel rewards while maintaining expense control.

Spending controls: Set individual spending limits for each employee card to maintain budget oversight while allowing necessary business purchases.

Consolidated reporting: All employee card spending appears on primary account statements, simplifying expense tracking and reimbursement processes.

Business Credit Building

The Performance Business card helps establish and build business credit profiles separate from personal credit, important for business growth and future financing opportunities.

Credit profile benefits:

• Establishes business credit history
• Doesn't impact personal credit utilization
• Provides reference for future business financing
• Demonstrates responsible business financial management

Tax and Accounting Advantages

Business card expenses are typically deductible business expenses, and the card's reporting features simplify tax preparation and accounting processes.

Documentation benefits:

• Automatic expense categorization
• Year-end summary statements
• Digital receipt management integration
• Simplified business expense deduction tracking

Pros and Cons

Pros

Highest anniversary bonus: 9,000 points annually beats all personal Southwest cards by significant margins.

5/24 exemption: Doesn't count toward Chase's 5/24 rule, preserving slots for other personal cards.

Two-card strategy enabler: Essential component for fastest Companion Pass earning approach.

Business expense separation: Maintains clear distinction between business and personal expenses for tax purposes.

Employee card benefits: Manage business travel rewards centrally while controlling individual spending.

Credit building: Establishes business credit profile independent of personal credit history.

Cons

Business requirement: Requires legitimate business activity, though sole proprietorship qualifies.

Higher spending requirement: $3,000 welcome bonus threshold vs. $1,000 on personal cards.

Limited personal benefits: Business-focused features may not appeal to personal-only users.

Annual fee: $99 annual fee requires sufficient business or Southwest activity to justify.

Application complexity: Business card applications typically require more documentation than personal cards.

Who Should Get This Card?

Perfect For

Business owners: Anyone with legitimate business activity benefits from expense separation and business credit building.

Companion Pass seekers: Essential for the fastest Companion Pass earning strategy when combined with personal Southwest cards.

Active card users: The 5/24 exemption makes this valuable for churners and active credit card users.

Frequent business travelers: Higher anniversary bonus and business expense tracking provide significant value.

Tax optimization: Business owners wanting to maximize deductible expenses and simplify accounting.

Consider Carefully

Sole proprietors: Even small-scale business activity qualifies, including freelancing, consulting, or side businesses.

Future business owners: Planning to start a business makes this card strategically valuable.

High personal spending: Using legitimate business expenses to meet higher spending requirements.

Skip If

No business activity: Chase requires legitimate business use, though requirements are flexible.

Minimal Southwest travel: Business benefits alone may not justify the annual fee for very occasional travelers.

Simple financial needs: Those preferring straightforward personal cards without business complexity.

Poor business credit: Business card approval often requires good personal credit and business financial standing.

How It Compares to Other Southwest Cards

vs. Southwest Premier Personal ($99 annual fee): The business card provides 3,000 more anniversary points (worth $40.50 extra), doesn't count toward 5/24, and offers business benefits for the same annual fee. Business owners should choose the business card unless they need personal card simplicity.

vs. Southwest Priority Personal ($149 annual fee): The Priority offers a $75 travel credit and upgraded boarding but costs $50 more. Choose based on whether you value personal travel perks or business benefits more highly.

vs. Chase Ink Business Preferred ($95 annual fee): The Ink offers transferable points and higher category earning but lacks Southwest-specific benefits. Choose the Southwest card if you're committed to Southwest loyalty.

vs. Other airline business cards: Southwest's business card provides unique benefits like Companion Pass qualification and no foreign fees, but other airlines offer lounge access and international partnerships. Choose based on your primary airline loyalty.

Application Process and Requirements

Business Requirements

Legitimate business activity: Chase requires actual business activity, but accepts:

• Sole proprietorships
• Freelancing and consulting
• Side businesses and gig work
• Online selling (eBay, Etsy, etc.)
• Rental property management

Documentation: You may need to provide:

• Business tax ID (EIN) or Social Security Number
• Business bank account information
• Proof of business activity or revenue
• Business license (if applicable)

Credit Requirements

Personal credit score: 680+ recommended for good approval odds Business credit: Helpful but not required for new businesses Income: Combined personal and business income should exceed $30,000 annually Chase relationship:Existing Chase business banking relationships can improve approval odds

Application Strategy

Timing considerations:

1. Apply for business card first (doesn't count toward 5/24)
2. Meet spending requirement and earn welcome bonus
3. Apply for personal Southwest card if under 5/24
4. Execute two-card Companion Pass strategy if desired

Business information accuracy: Ensure all business information is accurate and consistent across applications and documentation.

Frequently Asked Questions

Do I need a formal business to qualify?

No, sole proprietorships qualify, including freelancing, consulting, side businesses, or gig work. Even small-scale activities like selling items online can qualify as business activity.

Can I have both business and personal Southwest cards?

Yes, you can hold one Southwest business card and one Southwest personal card simultaneously. This strategy is popular for maximizing Companion Pass earning through multiple welcome bonuses.

How does this help with Companion Pass earning?

The business card provides a large welcome bonus that doesn't count toward 5/24, allowing you to combine it with a personal card welcome bonus for 100,000+ points quickly—most of the way to Companion Pass qualification.

What happens if my business income is low?

Chase accepts businesses with minimal revenue. Even part-time activities or side businesses qualify. Focus on demonstrating legitimate business activity rather than high revenue levels.

Can I use this card for personal expenses?

While the card is designed for business use, some personal expenses on business cards are acceptable. However, maintaining clear business use helps with tax deductions and credit profile building.

How do employee cards work?

You can issue up to 10 employee cards at no cost, each with customizable spending limits. All spending earns points toward the primary account, and you receive consolidated monthly statements.

The Bottom Line

The Southwest Performance Business Credit Card serves as both an excellent business credit card and a strategic tool for maximizing Southwest benefits. The 9,000 anniversary points provide the highest automatic annual bonus in Southwest's card lineup, while the 5/24 exemption enables powerful two-card strategies for Companion Pass earning.

For business owners, the card delivers genuine business value through expense separation, credit building, and employee card management. The enhanced reporting and tax documentation features alone justify consideration for entrepreneurs and small business owners.

The card's greatest value lies in its role as the foundation of the fastest Companion Pass earning strategy. When combined with a Southwest personal card, the dual welcome bonuses can put you 80% of the way to Companion Pass qualification within months.

Strategic recommendation: Business owners serious about Southwest travel should start with this card, then add a personal Southwest card if under Chase's 5/24 limit. This approach maximizes both business benefits and Companion Pass earning potential. Consider pairing with the Southwest Premier or Southwest Priority personal cards for maximum impact.

Companion Pass value: The two-card strategy can save $1,000+ annually on flights through Companion Pass benefits, providing exceptional ROI on the combined annual fees. For couples or frequent travelers with companions, this represents one of the highest-value credit card strategies available. Learn more about all Southwest card options in our complete Southwest credit cards guide.

Ready to accelerate your Southwest benefits? The Performance Business card provides 50,000 welcome points after $3,000 business spending in three months, plus the highest anniversary bonus available. Combined with business expense benefits, it's the strongest foundation for maximizing Southwest value.