American Express Schwab Investor Card vs Southwest Rapid Rewards Performance Business

Common questions

Which card has the bigger sign-up bonus, American Express Schwab Investor Card or Southwest Rapid Rewards Performance Business?

The Southwest Rapid Rewards Performance Business has the bigger bonus, 80,000 points, worth roughly $80,000, versus 10,000 Membership Rewards points (~$110) on the American Express Schwab Investor Card.

Is the American Express Schwab Investor Card's $0 annual fee worth it compared to the Southwest Rapid Rewards Performance Business?

The American Express Schwab Investor Card has no annual fee, so the question is whether the Southwest Rapid Rewards Performance Business's $299 fee is justified by its perks. If you'll use enough of the Southwest Rapid Rewards Performance Business's benefits to clear $299 in value annually, it's worth it; otherwise stick with the American Express Schwab Investor Card.

Can I have both the American Express Schwab Investor Card and Southwest Rapid Rewards Performance Business?

Yes, since they're from different issuers (American Express and Chase) the application rules don't conflict. Many points enthusiasts hold both, they pair well when one earns flexible bank points and the other earns a different currency.

Should I get the American Express Schwab Investor Card or the Southwest Rapid Rewards Performance Business first?

Get the one whose sign-up bonus you can hit comfortably without overspending. American Express Schwab Investor Card: $1,000 spend in 6 months. Southwest Rapid Rewards Performance Business: $5,000 in 3 months. Pick the easier minimum spend if you're new to points; pick the larger bonus if you have planned big purchases coming up.