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A charge card for startups that doesn’t require a personal guarantee.
30-second take
- Get this card if you’re a startup and want a hassle-free card without a personal guarantee.
- Pick something else if you want an intro APR period or if you want to carry your balance.
- Apply with a minimum of $100,000 in your business bank account.
| Product Name | Brex |
|---|---|
| Card Type | Visa |
| Annual Fee | $0 |
| APR (Annual Percentage Rate) for Purchases | None (Charge Card) |
| Introductory Purchase APR | N/A |
| Introductory Balance Transfer APR | N/A |
| Foreign Transaction Fee | None |
| Interest Free Period | Up to 30 days |
| Additional Cardholder Fee | $5 |
| Minimum Age | 18 years of age |
|---|
| Reward Value per Dollar | 1x points |
|---|
The basics
The Brex corporate card is a charge card designed for startups. To apply, you don’t need a personal guarantee or a deposit, and you can get a credit line 10 times higher than you would with a standard business credit card. With the management tools and easy accounting software integration, you can save time on analyzing employee spending and month-to-month reconciliation.
The perks
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No personal liability.
This is one of the rare corporate cards for startups that doesn’t require personal liability, a credit score, social security number or security deposits. Since startups have a high failure rate, this can give you a peace of mind knowing your personal assets won’t be affected in case of default.
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High credit limit.
Brex claims you’ll get a credit limit that’s 10 to 20 times higher than with a traditional business card. That’s because your assigned credit line is based on the cash you raised and the equity your company has.
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Earn rewards.
Earn 1x points on all of your purchases. And if you make Brex your exclusive credit card, you boost your earning to 7x points on rideshares, 4x points on travel booked through Brex Travel, 3x on dining, 2x on recurring software and software as a service and 1x points on everything else you buy. Each point is worth one cent.
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Signup bonus.
Get up to $25,000 worth of services, including $5,000 in credit for Amazon Web Services, a 25% subscription discount of up to $375 for Salesforce, $436 credits per month for 12 months for Zendesk and more.
You’ll also like
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Easily add new card members.
Quickly issue new cards to your team and set their spending limits.
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Use your card immediately.
Upon approval, start making purchases with a virtual card while waiting to get the physical card.
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Expense management tools.
Save time and analyze employee spending by automatically transferring your data to your accounting software. Brex integrates with QuickBooks, Xero, NetSuite and Expensify.
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Visa card.
Get worldwide acceptance with the Visa network.
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No annual fee.
Your first five cards have no annual fee. For each additional card, pay $5 annually.
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No foreign transaction fees.
If you travel abroad, use this card freely without incurring any foreign transaction fees.
What to watch out for
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Can’t carry a balance.
Your due date is 30 days after the close of your statement period, and you must pay it in full.
Consider other cards if…
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You want a travel card.
The Ink Business Preferred℠ Credit Card from Chase could be a solid alternative if you or your employees travel often. You earn 3x points on travel, shipping purchases, Internet, cable and phone services and advertising with social media on up to $150,000 in combined purchases annually. After that and on everything else, you earn 1x points. Plus, when you redeem for travel rewards through Chase Ultimate Rewards, your points are worth 25% more.
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You spend a lot on office supplies.
If you spend up to $50,000 each year on office supplies, the SimplyCash® Plus Business Credit Card could be worth considering. If you spend between $50,000 and $250,000 annually on office supplies, the Business Advantage Cash Rewards Mastercard® credit card from Bank of America could be the better choice.
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You want flat cash back on all purchases.
The Capital One® Spark® Cash Business offers unlimited 2% cash back on everything you buy. This can be a solid choice if your business doesn’t spend much on any particular category of purchases.
Compare business credit cards
What size business is the Brex card good for?
Brex is aimed at startups that have at least $100,000 in their bank account. The number of employees doesn’t play a huge role with this card, as you can quickly and easily add new card members. You’ll also have expense management tools at your disposal to save time monitoring employee spending.
| Where you spend | How much you spend annually | Cash back |
|---|---|---|
| Rideshares | $24,000 | $1,680 |
| Dining | $96,000 | $2,880 |
| Travel | $36,000 | $1,440 |
| Software | $50,000 | $1,000 |
| Everything else | $120,000 | $1,200 |
| Total | $326,000 | $8,200 |
Suppose your startup has 20 employees, you have five Brex cards and you’ve made Brex your exclusive business card. If your annual spending looks similar to our example, you would earn $8,200 in cash back. If we add the $25,000 worth of bonuses offered by Brex, the rewards you get beat any standard business card.
Note that your rewards will vary based on how much you spend and what you redeem them for. This example is based on our own calculations at the time of writing.
What should I know before I apply?
To apply for the card, you must provide:
- Your name and work email.
- Company name and website.
- How your company was funded and your role in the company.
What credit score do I need?
You don’t need to provide your credit score to apply for the card. Instead, Brex looks at your investors, your cash balance and spending patterns. And according to that, they set up your credit limit and provide you with your card.
What do customers say about Brex?
One of the features that customers especially like is that they aren’t personally liable. Others like the fast application process, the Amazon Web Services credit and the easy integration with accounting software.
How do I apply for the Brex card?
- Go to the Brex website and click Sign Up or Get Started.
- Fill out the application form with the requested information, including your name, work email and company information.
- Click Create Account.
How long will it take to get my Brex card?
You can start using your card online as soon as you’re approved. To get the physical card, you’ll have to wait up to five business days.
I got the card. Now what?
- Pay on time. You have 30 days to pay your balance. If you don’t, Brex may close your account.
- Customer service. For any questions, call 833-228-2044 and Brex support will help you.
Bottom line
If you’re looking for a credit line to fund your business, this may not be a good card for you. But if you’re a startup with high income or investment capital and you’re looking for a hassle-free card without personal guarantee, the Brex corporate card could be a solid choice.
The card comes with efficient monitoring tools, a robust signup bonus and if you make Brex your exclusive business card, you can enjoy a high cashback rate on rideshares, travel, dining and software.
However, if you’re not sure this is the right card for your business, look for a standard business credit card and compare your options.
Frequently asked questions
Images: Brex
