Is the Southwest® Rapid Rewards® Performance Business Credit Card Worth the $199 Annual Fee?
On rewards alone, the Southwest® Rapid Rewards® Performance Business Credit Card never out-earns the no-fee Costco Anywhere Visa® Business Card by Citi — its $199 fee has to be justified by credits and perks, not the earn rates.
Rates verified 2026-05-12.
Method: we compare what the Southwest® Rapid Rewards® Performance Business Credit Card earns against the best no-annual-fee card in the same category — the Costco Anywhere Visa® Business Card by Citi — because the alternative to paying a fee is not earning nothing, it is a good free card. Full methodology.
Three spending levels
| Profile | Southwest® Rapid Rewards® Performance Business Credit Card | Costco Anywhere Visa® Business Card by Citi | After the $199 fee |
|---|---|---|---|
| Light spender ($1,200/mo) | $164/yr | $230/yr | −$265 behind |
| Typical spender ($2,400/mo) | $328/yr | $460/yr | −$331 behind |
| Heavy spender ($4,500/mo) | $616/yr | $864/yr | −$447 behind |
The breakeven curve
| Monthly spend | Margin vs. Costco Anywhere Visa® Business Card by Citi (after fee) | Verdict |
|---|---|---|
| $500 | −$226 | keep the free card |
| $1,000 | −$254 | keep the free card |
| $1,500 | −$282 | keep the free card |
| $2,400 | −$331 | keep the free card |
| $3,500 | −$391 | keep the free card |
| $5,000 | −$474 | keep the free card |
| $7,500 | −$612 | keep the free card |
Caveats that can move this math: 4X on Southwest purchases; 2X on internet/cable/phone. Statement credits and perks are not counted unless you would have spent that money anyway.