Southwest's premium business card is offering a record-high welcome bonus of up to 100,000 points, but it won't last long

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• If you fly Southwest and you're a freelancer or small-business owner, this increased sign-up bonus is worth a look.
• The Southwest Rapid Rewards Performance Business Credit Card is offering up to 100,000 Southwest points: 70,000 points after you spend $5,000 in the first three months, and another 30,000 points after you spend $25,000 in the first six months.
• Not only will this bonus help you book several award flights, but the bonus can also help you earn the airline's Companion Pass benefit.
• The Companion Pass lets you bring a designated friend or family member along on all your Southwest flights. To earn it, you need 125,000 qualifying points in a calendar year.
• See Business Insider's list of the best airline credit cards »

Southwest has two business credit cards in addition to three options for consumers, and one of those two cards just launched its highest-ever sign-up bonus.

The Southwest Rapid Rewards Performance Business card, which has a $199 annual fee, is offering up to 100,000 points. You'll earn 70,000 points after you spend $5,000 in the first three months from account opening, and another 30,000 points after you spend $25,000 in the first six months.

Keep in mind that we're focusing on the rewards and perks that make these credit cards great options, not things like interest rates and late fees, which will far outweigh the value of any points or miles. It's important to practice financial discipline when using credit cards by paying your balances in full each month, making payments on time, and only spending what you can afford to pay back.

With 100,000 Southwest points, you'll be able to book several award flights. The minimum spending requirement to earn the full 100,000-point bonus is high, but this is a business credit card, and many companies easily spend $25,000 in a month, let alone in six months. Also keep in mind that the deadline to file taxes is April 15 — you could pay your business taxes with the Performance Business card to work toward that high spending requirement. Just keep in mind that there's a fee of at least 1.87% for paying taxes with a credit card.

Even if you only meet the first spending tier and earn 70,000 points, the rewards should help you book at least a few flights, depending on where you're traveling.

Read more: How to qualify and apply for a business credit card

Southwest Performance Business card details

Annual fee: $199

Points earning: 3x points on Southwest purchases, 2x points on social media and search engine advertising, and internet, cable, and phone services, 1 point per dollar on everything else

Anniversary bonus: 9,000 points after your cardmember anniversary

Top benefits: 4 upgraded boardings per year, in-flight Wi-Fi credits, up to a $100 statement credit to cover the application fee for Global Entry or TSA PreCheck (note that Global Entry is currently unavailable for New York residents)

The Southwest Performance Business card is best for small-business owners who fly Southwest several times a year. Not only does it offer helpful perks like upgraded boardings with the airline, but it also earns bonus Southwest points on common business purchases such as internet services and advertising on social media.

Click here to learn more about the Southwest Performance Business card »

Earn the Companion Pass

Another reason to consider the Southwest Performance Business card, especially right now, is that the 100,000-point offer puts you within reach of Companion Pass. This benefit lets you designate one person who can fly with you on all your Southwest flights — they'll only need to pay taxes and fees (which start at $5.60).

You need to earn 125,000 qualifying points in a calendar year to get the Companion Pass. You could qualify by spending $25,000 on the Southwest Performance Business card to meet the minimum spending requirement, since in addition to earning 100,000 points from the sign-up bonus, you'll earn 1 point per dollar (or more, if you spend in a bonus category) for making purchases. 

Keep in mind that the sooner you earn 125,000 qualifying points, the longer you'll get to enjoy two-for-one travel. That's because the Companion Pass is valid for the remainder of the year in which you earn it, and the entire following calendar year. 

We don't know when this offer will end, so don't wait to apply

Southwest and its partner Chase haven't published an end date for this offer, but we know it won't last forever. If you're interested, it would be smart to apply sooner rather than later.

Earn up to 100,000 points: Click here to learn more about the Southwest Performance Business card »

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Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.