The
Brex Corporate Card for Startups is a good business 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 to be worthwhile for eligible companies.
What I Like About the Brex Card
Thousands of Bonus Points
You can earn
30,000 points for spending $3,500 or 50,000 points for spending $9,000 in 30 days. That's worth about $300 or $500, depending on which spending threshold you reach, and that’s good to very good, based on our research. If you open a Brex Business Account and spend $3,000 within 90 days, you can get another 10,000 points and make it even better. This is a special offer for WalletHub users!
The average initial bonus on a credit card is
$272.5 in terms of cash back or
35,720 points/miles, according to
WalletHub’s Credit Card Landscape Report.
Great Ongoing Bonus Reward Rates
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.
The minimum is standard for rewards cards, so nothing special, but you’ll be earning at roughly 2X – 6X the market average rate in the bonus categories. If you spend a lot in these categories, you could save a ton.
$0 Annual Fee
The average annual fee among the 1,500+ credit card offers we track is
$29.67 per year, and many business credit cards cost several times as much. The Brex Card is a bargain compared to other business cards with strong rewards.
No Personal Guarantee
Most small business credit cards hold the business owner personally liable for account balances and thus check new applicants’ personal credit reports. Brex does not.
Brex focuses its underwriting on the actual business. That’s why companies need all that cash in the bank to qualify for the Brex 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.
Works Worldwide
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. That should make life easier and give you some added peace of mind.
0% Foreign Fee
The average foreign transaction fee on a credit card is
1.59% of every purchase processed abroad. Not having to pay such a fee will make doing business internationally much less expensive.
Other Useful Features
You can give cards with customizable spending limits to employees, making company spending much easier to manage. Brex also claims to give far higher limits than most corporate credit cards.
What I Don’t Like About the Brex Card
High Cash Requirement
If you haven’t received VC or angel funding, you may need to have at least $50,000 in a business bank account to qualify for the Brex Card.
Unconventional Credit Limit
Your spending limit with the Brex Card is 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.
This could benefit some companies. But it might also be a bit more onerous for some smaller outfits.
No Financing Capabilities
You cannot carry a balance from month to month with the Brex Card. On the bright side, that means there’s no interest rate. On the other hand, the card is less versatile, since it can only be used for normal expenses that you can afford to pay off by the due date.
Similarly, payments are automatically deducted from your company’s designated bank account. Some people might see this as a convenience, while it could result in cash flow issues for others.
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. Unfortunately, you don’t even have the option to withdraw cash when needed.
Bottom Line: Is the Brex Card Good?
The Brex Card is good for business owners who want to avoid personally guaranteeing their company’s spending. If the expenses you plan to use it for line up well with the bonus rewards categories, it’s a great choice. There’s no annual fee, so it’s easy to make this card pay off.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
