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The Southwest® Rapid Rewards® Performance Business Credit Card might be on your radar if you’re a frequent Southwest flier. This card’s airline-focused perks and valuable welcome bonus make it suitable for select travelers. Plus, it could make it much easier to earn the coveted Southwest Companion Pass.

Check out this card's features, benefits, and drawbacks to make an informed decision about whether it's right for your wallet.

Spending enough to earn the Southwest Rapid Rewards Performance Business Card’s welcome bonus is one of the best ways to rack up points quickly.

While this card has a higher annual fee than its sister card, the Southwest Rapid Rewards Premier Business Card, spending enough to earn the welcome bonus will easily offset the cost in the first year.

You can also get impressive rewards when you spend with Southwest, earning 4x points. Select general business purchases also carry a higher earning rate. You’ll get 2x points at gas stations and restaurants; on hotel accommodations booked directly with the hotel; and on local transit and commuting, including rideshare.

There’s not much flexibility when it comes to redemptions, which is fairly common among airline credit cards. You can redeem your points for seats for yourself or a companion on Southwest-operated flights, but that’s it. Non-branded, general travel cards offer a lot more flexibility with redemptions.

You’ll get a special 9,000-point bonus for every year of card membership. This bonus will appear in your account shortly after your cardholder anniversary.

If you use your card to purchase a TSA PreCheck, Global Entry, or NEXUS membership, you’ll get a credit of up to $120 every four years to offset that cost.

If you’re a Southwest loyalist working toward A-List or A-List Preferred elite status, this card can help you get there faster. For basic A-List status, you’ll need to earn 35,000 tier qualifying points (TQPs) or take 20 qualifying flights in a given year. For A-List Preferred, it’s 70,000 TQPs or 40 qualifying flights.

With the Southwest Rapid Rewards Performance Business Card, you’ll earn 2,500 TQPs for each $5,000 you spend anually.

Some cards apply a percentage-based charge, often up to 3%, each time you make a purchase abroad, but not the Southwest Rapid Rewards Performance Business Credit Card. No matter where you travel, you don’t need to worry about foreign transaction fees when you buy things internationally.

This card gives you an additional year of warranty coverage on eligible purchases. You also get 120 days of purchase protection for qualifying items, with up to $10,000 in coverage per claim or $50,000 total for your account.

If you typically fly Southwest for multiple business trips yearly, the Southwest Rapid Rewards Performance Business Card could be for you. Its Southwest-focused rewards and perks can help you save on future flights, though you’ll need to use your card often enough to offset the annual fee. Earning the welcome bonus can help you recoup this cost in the first year.

Valuable welcome bonus

Can earn points toward A-List status and Companion Pass

Up to $120 TSA PreCheck, Global Entry, or NEXUS membership fee credit

Has a relatively high annual fee

Doesn’t offer a 0% introductory APR

Benefits are mostly Southwest-focused

Limited redemption options

There are very few limitations on where you can use your Southwest Rapid Rewards Performance Business Credit Card, as it’s part of the Visa network. Your card will be accepted in over 200 countries and territories.

By logging into your your Chase account

Via phone: 1-800-436-7958

Through a local Chase branch

Via the Chase mobile app

By mail:

Regular:Cardmember ServicesP.O. Box 6294Carol Stream, IL 60197-6294

Overnight:Chase Card Services201 N. Walnut StreetDe1-0153Wilmington, DE 19801

Cardholders can reach Chase’s customer service team over the phone at 1-800-432-3117 or through their social media. You can also log into the Chase portal if you have questions or need help with your card.

The Southwest Rapid Rewards Performance Business Credit Card is an excellent option if you fly on Southwest-operated flights often. But if you don’t, one of these alternatives could be a better fit.

Why we like it: The American Express Business Gold Card has a high annual fee, but hear us out: It also gives you up to $240 in annual statement credits on qualifying U.S. purchases at office supply stores, FedEx, and GrubHub, plus you’ll get monthly Walmart+ membership credits valued at up to $155 annually (select benefits require enrollment.) If you can take advantage of these benefits, that’s a total of $395 in credits, completely offsetting the card’s annual cost.

Read our full Amex Business Gold review

Why we like it: If you’d prefer a card without an annual fee that offers flexible rewards, the Blue Business Plus Credit Card from American Express is worth a look. This card offers a valuable welcome bonus, and you’ll also get a 0% introductory APR offer on purchases.

The Blue Business Plus doesn’t offer the rewards-earning potential of some competitors, but it’s a great option if you’re planning a big business purchase and want some extra time to pay it off.

Read our full Amex Blue Business Plus review

Why we like it: Like the Southwest Rapid Rewards Performance Business Card, the Ink Business Preferred Card comes with an impressive welcome bonus. But the Ink Business Preferred also offers much more flexible redemption options, making it a better choice for offsetting general travel costs or business purchases.

Read our full Ink Business Preferred review

This article was edited by Ben Walker (CEPF, CFEI®)

Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.

The Rapid Rewards Premier Business card is a solid option for Southwest loyalists who travel frequently for work.

The Southwest Rapid Rewards Premier Credit Card offers rewards on flights and some everyday purchases. Here's how to decide if it's right for you.

Use these cards to earn Rapid Rewards points on your spending and save on upcoming flights with Southwest.

The Southwest Rapid Rewards Priority Credit Card has some valuable perks for frequent Southwest flyers. Here's a look at how you can use it to save on future travel.

With the Southwest Rapid Rewards Plus card, you can earn points and discounts to use toward future Southwest purchases.

You can get a Southwest Airlines Companion Pass when you open a new Southwest Rapid Rewards credit card — but only for a limited time.