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For a limited time, Chase has bumped up the sign-up bonus on the Southwest Rapid Rewards® Performance Business Credit Card, a small-business credit card. And the new offer could earn you enough points to qualify for a highly coveted Companion Pass, which for Southwest airfares is like a buy-one-get-one-free deal.
The Southwest Rapid Rewards® Performance Business Credit Card is offering a sign-up bonus of up to 100,000 points: Earn 70,000 points after you spend $5,000 on purchases within the first 3 months of account opening. Plus, an additional 30,000 points after you spend $25,000 total on purchases within the first 6 months of account opening.
Previously, the card offered the following sign-up bonus: Earn 70,000 points after you spend $5,000 on purchases within the first 3 months of account opening.
Because you’ll earn at least 1 point per dollar spent while achieving the second tier of the new offer, you’ll earn a minimum of 25,000 points for that alone. Coupled with the 100,000 in bonus points, the total of 125,000 is enough to earn a Companion Pass, which lets you choose a companion to fly with you for free (excluding taxes and fees) when you buy a flight or redeem points for a free flight. Once earned, the Companion Pass is valid for the remainder of the year and the following calendar year, too. That makes it more valuable if earned early in the calendar year.
Overall, this is a valuable deal. The required spending is high, but the offer comes with half a year to accomplish it.
Chase notes that the bonus offer is available only to those who don’t already have the card and have not received a new cardmember bonus for the card in the past 24 months.
The card’s annual fee is $199. The card was first introduced in June 2019.
A good choice
Even without the new bonus offer, rewards and perks of the Southwest Rapid Rewards® Performance Business Credit Card make it a good choice for Southwest loyalists looking for a small-business credit card.
- 3 points per $1 spent on qualifying Southwest Airlines purchases.
- 2 points per $1 spent on social media and search engine advertising, internet, cable and phone services.
- 1 point per $1 spent on all other purchases.
- 9,000 bonus points each account anniversary year.
- Reimbursement of up to four upgraded boardings upon each anniversary year (when available).
- In-flight Wi-Fi credits.
- Global Entry or TSA Precheck application fee statement credit.