Brex the First Corporate Card for Starups Reviews
The Brex credit card is a charge card designed to help tech startups seamlessly navigate the different aspects of business management. This includes issuing employee cards, expense management, earning rewards points, and benefitting from partner perks.
Surprisingly, there's no credit check involved in the awarding process. Instead, Brex determines your creditworthiness by reviewing your visitor's business model, spending patterns, source of funds, and other applicable areas. But it doesn't take the high fiscal requirements of a traditional corporate credit carte du jour.
In this Brex credit card review, you lot'll learn about this minor business carte's benefits and drawbacks, every bit well as how to earn and redeem your points. This will help you decide whether the Brex card is the right option for your business.
In this commodity
- Who should get the Brex credit card?
- Carte du jour basics
- Brex credit bill of fare benefits and perks
- Drawbacks to this card
- Earning & redeeming points
- Brex credit carte du jour FAQs
- Other cards to consider
Who should go the Brex credit carte?
The Brex credit card, previously known as the Brex for Tech card or the Brex for Startups carte du jour, likely makes the most sense for business owners who tin can accept reward of its rewards programme and card perks.
The earning categories offer rewards on many common business organization expenses, such as recurring software. These rewards could help cardholders discount business travel and future business purchases. In addition, costless perks with partners like Amazon Web Services, Slack, Apple tree, Google Ads, Gusto, and more can aid your business concern grow.
If the rewards and benefits don't align with your business goals, this carte du jour might not exist the best fit for you lot. Reward rates and redemptions are heavily geared toward travel, which may non be useful to all business owners. Even so, information technology's also important to consider how the Brex carte doesn't require a personal credit check.
Y'all can become this business organisation card with but an EIN (employer identification number) instead of a Social Security number. If you're finding it difficult to go approved for other concern credit cards because of your personal credit history, this could be a potential option.
You may also want to utilize your EIN because you don't want your personal finances tied to your minor business. In this instance, y'all should also know that Brex does not take a personal guarantee clause like many business organization credit cards do. This keeps your personal credit score and assets complimentary from your business.
The Brex card is split betwixt two different types, 1 with daily payments and one with monthly payments. The easiest approval is for daily payments and requires you lot to open a Brex Cash business relationship. Your credit limit volition exist up to 100% of your Brex Greenbacks business relationship balance and you earn up to 8X rewards on company spending. This may not seem like much more than a debit menu with rewards, still the daily payment Brex menu is for companies of any size and does allow you lot to build a credit history for your business.
If approved for monthly payments, you lot may authorize for credit limits x-20 times higher than traditional corporate cards. You lot can brand payments from whatsoever company business relationship, non just the Brex Greenbacks account. Additionally, you can earn upwards to 7X rewards on company spending. Qualification for monthly payments depends on various factors such equally your business blazon, company funding, current bank balances, and more. T he last conclusion of which card y'all get is upwardly to the Brex onboarding squad.
Card nuts
| Card type | Business organisation |
| Credit card issuer | Brex |
| Credit card network | Mastercard |
| Almanac fee | $0 |
| Intro bonus | Earn 10,000 points for spending your showtime $1,000, and then another 10,000 for spending $3,000 in the get-go 3 months, for a full of twenty,000 points (and and additional xx,000 if you lot link payroll to your Brex account) |
| Advantage rate | 8X points on rideshare, 5X on Brex Travel, 4X at restaurants, 3X on eligible Apple tree products and software subscriptions, and 1X on all other purchases with Brex Exclusive |
| Recommended credit score | No credit check required |
| Foreign transaction fee | None |
Brex credit card benefits and perks
- Generous welcome offer: Earn 10,000 points for spending your start $i,000, then another 10,000 for spending $iii,000 in the first 3 months, for a total of xx,000 points (and and additional 20,000 if you link payroll to your Brex account)
- Valuable rewards: Earn rewards on common business expenses, including 8X points on rideshare, 5X on Brex Travel, 4X at restaurants, 3X on eligible Apple products and software subscriptions, and 1X on all other purchases with Brex Sectional.
- No hidden fees: A $0 annual fee and no foreign transaction fees on the Brex card.
- Charge card: Since the Brex menu is a charge card, you won't accept to worry well-nigh paying whatsoever interest charges.
- Brex Cash: Linking your card with a Brex Greenbacks account, a cash management business relationship, can provide boosted benefits. This may include: increased earning rates and possibly a higher credit limit. In addition, Brex Cash accounts take no opening or monthly maintenance fees, and no fees for ACH transfers or wire transfers.
- No credit check: Brex doesn't check your personal credit history as part of the application process for the Brex card, then there's no hard credit pull to touch on your credit score.
- Build business credit: On-time payments on your Brex card are reported to Experian and Dun & Bradstreet to help build your business credit.
- College limits: Brex claims the Brex menu has 10 to xx times higher spending limits than traditional corporate credit cards.
- Employee cards: Upshot and manage employee cards through Brex. This includes issuing virtual cards, monitoring spend, setting limits, and making other changes.
- Integrations: Brex integrates with Xero, NetSuite, QuickBooks, Concur, Pilot, Expensify, and Sage Intacct to help with your accounting needs.
- Redemption options: Redeem your points for flights and hotel stays through Brex Travel, gift cards, cash back, or transfers to partner airlines (more on this below). Points can also be converted to airline miles and gifted to employees. Recently, Brex also added the option to redeem your rewards points for cryptocurrency. They support both Bitcoin and Ethereum.
- Brex Travel: Receive access to discounted rates in the Brex Travel portal. This may include savings of upwardly to 60% on sure bookings, though 30% savings is the average. You also get complimentary access to 24/7 concierge services to assistance with your travel needs.
- Partner perks: Gratuitous partner perks (worth upwardly to $150,000) include Amazon Web Services credits, Slack discounts, Google Ads credits, and more.
- Earth Elite Mastercard benefits: With the Brex card, you go Globe Elite Mastercard benefits like prison cell phone protection, motorcar rental insurance, Mastercard Luxury Hotel Program benefits, and more than.
- Global acceptance: Brex is part of the Mastercard network, which is accepted worldwide.
Drawbacks to this card
- EIN requirement: Brex underwrites with EINs instead of Social Security numbers. This ways those without an EIN — similar consumers, sole proprietors, and unregistered businesses — won't authorize. Just this does make the Brex one of the best credit cards for LLCs since registered U.S. companies in the form of C-corps, South-corps, LLCs, and LLPs could exist eligible.
- Charge card: It'southward important to be aware that the Brex cards are technically charge cards. You will need to pay the residual in full on either a daily or monthly basis.
- Best earning rate: If you want to authorize for some of this bill of fare's best benefits, such as an increased earning rate, you need to make daily payments. With this choice, your current statement residual is automatically deducted each day from your linked Brex Cash account (required for this benefit) instead of every 30 days. You also need to qualify for Brex Exclusive, which means exclusively using your Brex card for your business organisation. Whether or non this will piece of work for you lot volition depend on your business organization's finances and cash flow.
- Atypical credit limit: Your available credit limit is based on the balances of any business bank accounts including a Brex Cash business relationship, if applicable, linked to your menu. If you lot tin't link a bank account and don't have a linked Brex Greenbacks business relationship, your credit limit will be based on submitted depository financial institution statements instead. So if your greenbacks residuum for your linked account or the corporeality shown on your bank statements changes, expect your credit limit to change as well.
Earning & redeeming points
All-time ways to earn
Many concern credit cards for startups share similar traits, similar offering bonus points for everyday business expenses and letting you lot redeem points for travel or cash back. But few business cards offer as much earning potential as the Brex card. To earn the most with this card, exist sure to take advantage of its high earning rates in its bonus categories.
Keep in mind that yous need to take these two steps to qualify for the best earning rates:
- Qualify for Brex Exclusive status: If you exclusively apply the Brex for Tech bill of fare for your business instead of other business cards, you'll qualify for Brex Exclusive status and earn a higher rewards charge per unit on your purchases.
- Utilize the Brex menu daily statements option: Brex has two payment options. The monthly statements selection automatically deducts your bill of fare'south statement balance from your linked business relationship every xxx days. The daily statements selection automatically deducts your statement balance each solar day. If yous pay your residue in full each day, you authorize for extra points (fifty-fifty above what you get from Brex Sectional) in the card's bonus categories.
| Categories | Rewards rate |
| Rideshare (with Brex Exclusive) | 8X |
| Brex Travel (with Brex Exclusive) | 5X |
| Restaurants | 4X |
| Eligible Apple products and software subscriptions (with Brex exclusive) | 3X |
| All other purchases | 1X |
Maximizing your redemptions
The Brex card earns points that tin can be redeemed for travel (through Brex Travel), gift cards, cash dorsum, or transfers to airline partners. As with many credit cards, the best point redemptions for the Brex card are likely for travel, cash back, or points transfers. This is typically the case because gift cards don't oft offer equally much flexibility as cash or every bit much value equally sure points transfers and travel redemptions.
If your Brex card is on a monthly argument menstruum, you qualify for statement credits likewise. Even so, redeeming your points for statement credits is likely the worst redemption option on this menu considering of the lower redemption rate. Redemptions for travel through Brex Travel, souvenir cards, and cash back all have a 100 points to $1 charge per unit. So 100,000 points would be worth $1,000. Statement credits redeem at 100 points for $0.70, so 100,000 points would but be worth $700.
Recently, Brex also added the option to redeem your rewards points for cryptocurrency. Yous'll need to ready up a crypto wallet to take advantage of this, merely once yous practise y'all'll exist able to plow your points into either Bitcoin or Ethereum.
Brex transfer partners
The Brex card allows you to transfer any points you earn on your card to multiple partner airlines. This tin can be helpful if you take elite condition with an airline or an airline brotherhood, such as Oneworld Brotherhood or Star Alliance. Being able to transfer points also gives y'all flexibility with redemptions.
Transferring points to partner airlines happens at a 1:1 ratio, so transferring 100,000 points to an airline such equally Singapore Airlines would net you 100,000 KrisFlyer points. Points transfers are excellent redemption options because you may finish up with more value than was possible with other options. For example, 86,000 KrisFlyer points could secure you a Singapore Suite worth $3,000 or more than and allow you to travel in luxury using only points.
Brex transfer partners include:
- Aeromexico - Club Premier
- Air France KLM - Flying Blue
- Avianca - LifeMiles
- People's republic of china Pacific - Asia Miles
- Emirates - Skywards
- Qantas - Frequent Flyer
- Singapore Airlines - KrisFlyer
Brex credit menu FAQs
Is Brex a good credit carte du jour?
Brex is technically non a credit card. It is a charge card. Simply Brex has several reward categories and integrated partners, all of which can be skilful fits for business concern owners because of their high earning potential and helpful benefits.
In improver, no Brex card requires a personal credit check. This can be helpful if your credit is blocking you lot from applying for other business cards.
How does Brex earn money?
Brex earns a percent of the interchange fee whenever a Brex bill of fare is used to make a transaction. This fee is split with the bill of fare network the card is on. This is one way many accuse carte and credit card issuers make coin.
Is Brex FDIC-insured?
If you accept a Brex Cash account, y'all get to decide how you desire to store your money. You lot can put a per centum of information technology into a Brex programme bank, which is FDIC-insured for up to $250,000, and a percentage into a money market place account, which is SIPC-insured for up to $500,000. Storing money with a Brex plan bank won't earn interest while putting funds into a coin market account could earn interest. All the same, coin market accounts might also have certain expenses and fees attached to them.
Other cards to consider
The Brex bill of fare offers many benefits and splendid earning rates for business organisation owners. But if information technology doesn't take what y'all're looking for, you might consider small business credit cards similar the American Limited Blueish Business Cash™ Menu or the Chase Ink Business concern Greenbacks Credit Card.
The Blue Concern Cash Card from Amex has a $0 (See rates and fees) annual fee and offers 2% greenbacks back on the first $fifty,000 in eligible purchases each year, then i% after that. This earning charge per unit may non compete with some of the bonus categories on the Brex for Tech, just not having to worry about different categories tin can be helpful. If your business has lots of different expenses, a general cashback card could exist the best option for earning rewards.
The Chase Ink Business Cash Credit Card might make more than sense if you desire to earn points on specific concern expenses that the Brex for Tech doesn't embrace. This carte has a $0 annual fee and earns 5% cash back at part supply stores and on cyberspace, cable, or phone services (up to $25,000 combined annually); two% cash dorsum at gas stations and restaurants (up to $25,000 combined annually); and 1% cash dorsum on everything else. If these bonus categories brand more sense for your concern, this menu could exist a meliorate fit.
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