The
Brex Corporate Card for Startups is a business credit card with no personal guarantee for companies that have at least $50,000 in the bank. It has a
$0 annual fee, a
0% foreign transaction fee and plenty of rewards. Those rewards include an initial bonus of up to
50,000 points, as well as ongoing earning rates of
1 - 7 points per $1, depending on the purchase category.
Unlike most small business credit cards, which hold the business owner personally liable for account balances and thus check new applicants’ personal credit reports, Brex focuses its underwriting on the actual business. That’s why companies need all that cash in the bank to qualify for the Brex Credit Card – to prove they’re capable of paying the bills. And if you do manage the Brex Card responsibly, your business credit standing will benefit, as Brex reports payment information to Dun & Bradstreet and Experian.
The Brex Credit Card has other useful features, too. For example, you can give cards with customizable spending limits to employees. Brex also claims to give far higher limits than most corporate credit cards. Below, you can find more information to help you decide whether or not applying for the Brex Card would be a good move for your business.
Brex Credit Card Review Highlights- Initial Bonus: 30,000 points for spending $3,500 or 50,000 points for spending $9,000 in 30 days.
The Brex Card’s bonus is worth about $300 or $500, depending on which spending threshold you reach. The average initial bonus on a credit card is $235 in terms of cash back or 37,069 points/miles.
- Ongoing Rewards: 1 - 7 points per $1.
Normally, cardholders earn 7 points per $1 spent on rideshare and taxi purchases, as well as 4 points per $1 spent on travel booked through Brex, 3 points per $1 on dining and Apple products purchased through the Brex Portal, 2 points per $1 on recurring software purchases, and 1 point per $1 spent on everything else.
- Annual Fee: $0.
The average credit card charges $26.75 per year, and many business credit cards cost several times as much.
- Credit Limit: Determined based on cash raised, company equity and company spending.
Most business credit cards base spending limits on the business owner’s or representative’s personal creditworthiness and ability to pay.
- Payments: Deducted automatically from your company’s designated bank account.
You cannot carry a balance from month to month with the Brex Card, which means there’s no interest rate.
- Foreign Fee: 0%.
The average foreign transaction fee on a credit card is 1.58% of every purchase processed internationally.
- Card Network: Mastercard.
The Brex Card is a Mastercard, which means it can be used pretty much anywhere in the world that accepts credit cards and debit cards.
- Cash Advances: Not allowed.
One reason the Brex Card is safer than a traditional debit card, according to the Brex website, is that it can’t be used to withdraw cash. However, the account is still connected to a business bank account, which could be drained via non-cash transactions if you’re not careful. Fortunately, cardholders are not liable for unauthorized transactions.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
