Is the Southwest Performance Business Card worth the annual fee?

By DFB Guy On Aug 31, 2023

The most premium of Southwest’s cobranded options, the Southwest Performance Business Card carries an annual fee of $199.

While this is significantly less than the fees you’ll see on most premium options from other airlines, it is a notable increase from the Southwest Premier Business Card and the three Southwest personal cards.

If you’re a business owner who prefers to fly Southwest Airlines and are wondering whether you should add the Southwest Performance Business to your wallet, here’s what you need to know about its value.

Welcome bonus

The Southwest Performance Business card is currently offering a welcome bonus of 80,000 Rapid Rewards points after you spend $5,000 in the first three months from account opening.

TPG values Southwest Rapid Rewards points at 1.5 cents each, making this bonus worth $1,200. However, you can get even more value from this bonus if you use it to jumpstart your qualification for a Companion Pass. You’ll need to accumulate 135,000 points in a calendar year to get a coveted pass. This bonus alone will get you over halfway there, and you could pair it with a personal Southwest card and qualify for a Companion Pass automatically after earning the bonuses on both cards.

But before applying, be sure to check your eligibility. As a Chase card, the Southwest Performance Business is subject to Chase’s 5/24 rule and Southwest bonus eligibility restrictions.

Earning

The Southwest Performance Business card earns 4 points per dollar on Southwest purchases, 3 points per dollar on Rapid Rewards hotel and car rental purchases, and 2 points per dollar on social media and search engine advertising, internet, cable, phone services and local transit (including ride-hailing services). It earns 1 point per dollar on all other purchases.

As is expected with the most premium version of a cobranded card, the Southwest Performance Business earns more on Southwest purchases than you would be able to earn with any other cobranded Southwest card. Plus, the points you earn on your card can offer even more value if they help you qualify for a Companion Pass.

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However, if you spend a significant portion of your budget on general travel or business expenses and aren’t focused on earning a Companion Pass, you’ll find a better earning structure with a different card.

Benefits

With the Southwest Performance Business card, you’ll get these Southwest-specific perks:

9,000 points every year on your cardmember anniversary
Four Upgraded Boardings per year when available
Earn 1,500 tier qualifying points toward A-List status for every $10,000 spent
$500 fee credit for points transfers per year
Up to 365 inflight Wi-Fi credits per year

You’ll also get a fee credit of up to $100 for Global Entry, TSA PreCheck or Nexus every four years.

TPG values the 9,000-anniversary points at $135, which justifies over half of the card’s $199 annual fee. If you can take advantage of at least eight Wi-Fi credits (normally $8 each), you’ll have gotten enough value from the card to justify the annual fee from these two perks alone.

However, this card offers less value than many other airline cobranded cards. While it gives you a faster path to earn a Companion Pass, you won’t get value from additional free checked bags or airport lounge access. Plus, Southwest elite status is much less valuable than the status you can earn on other airlines, given its lack of seating options. If you fly frequently, you may decide it’s worth switching airline loyalty to get more valuable perks.

Alternatives

If you want Southwest-specific perks for a lower annual fee, you might prefer the Southwest Premier Business card. It has a lower $99 annual fee, which is easily justified by its anniversary points and complimentary Early-Bird check-ins. For more details, check out our full review of the Southwest Priority Business card.

If you spend more of your budget on business and general travel expenses, you might prefer the earning structure of the Ink Business Preferred Credit Card. It earns 3 points per dollar on the first $150,000 spent annually on travel, shipping, internet, cable, phone services and advertising with social media and search engines. It carries a lower $95 annual fee and earns Chase Ultimate Rewards points, which you can transfer to Southwest or any of Chase’s other travel partners. For more details, check out our full review of the Ink Business Preferred.