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Brex For Startups Review

Brex For Startups Review

Sign Up Bonus
None
Annual Fee
$0
Rewards Rates
Earn points on every dollar spent with industry-leading multipliers: 7x on rideshare, 4x on travel, 3x on restaurants, 2x on software subscriptions and 1x on all other transactions.
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Who is the Brex For Startups best for?

Brex For Startups is a unique card designed for startups that might face challenges getting approved for credit.

It comes with generous rewards, a $0 annual fee and requires no personal credit guarantee. Two engineers — Henrique Dubugras and Pedro Franceschi — founded Brex, according to the company’s website. Their aim is to provide credit to startups that might have trouble qualifying for traditional corporate credit cards.

Brex For Startups isn’t for everyone. You have to have a certain amount of money in the bank, and your business must have an Employer Identification Number and be registered in the United States.

You also have to make Brex For Startups your business’s exclusive card if you want to get the most of its rewards program. We’ll take you step by step through where this card stands out, where it falls short and how to get the most out of it.

Brex For Startups overview

    • 75,000 in Brex Rewards points upon signup and waived card fees for life (equal to $750+ value)*
    • No personal guarantee needed - we do not ask for a personal credit check or security deposit during the application.
    • Credit limits 10-20x higher than traditional small business corporate cards.
    • $100,000 bank balance required to qualify for Brex.
    • Exclusive signup offers from the best products and tools for your business (e.g. AWS, Google Ads, WeWork, Salesforce) worth over $50,000 in value.
    • Earn points on every dollar spent with industry-leading multipliers: 7x on rideshare, 4x on travel, 3x on restaurants, 2x on software subscriptions and 1x on all other transactions.
    • Miles transfer program to 6 airlines (including Singapore Airlines, Qantas, Air France, and more) and their loyalty programs, giving Brex customers access to book travel across all of the major global airline alliances - Star Alliance, Oneword, and SkyTeam.
    • 30-day charge card running on the Mastercard network. Enjoy global acceptance with no foreign transaction fees.
    • Make employee expenses seamless - automated receipt-capture and expense matching and reconciliation via text and email. Instantly add new users and set spending limits.
    • Simplify reconciliation with built-in integrations with Quickbooks, Xero and more.
  • Credit needed:
    660 850
    Excellent/Good
  • Access to credit for startups
  • Chance for instant approval
  • Money management tools

Intro Purchase APR

N/A

Regular Purchase APR

N/A

Intro BT APR

N/A

Regular BT APR

N/A

Annual Fee

$0

Cash Advance Fee

N/A

Foreign Transaction Fee

None

Balance Transfer Fee

None

Pros and cons of the Brex For Startups

Pros

  • Generous rewards
  • No personal guarantee required
  • Numerous discount offers
  • $0 annual fee
  • Build business credit

Cons

  • You have to have a lot of money in the bank
  • Only available to certain business structures
  • You can’t carry a balance

What we like about the Brex For Startups

Rewards

  • Earn points on every dollar spent with industry-leading multipliers: 7x on rideshare, 4x on travel, 3x on restaurants, 2x on software subscriptions and 1x on all other transactions. Take note that you must have Brex Exclusive status to earn those rates. This status is achieved by businesses that make Brex For Startups their exclusive corporate card. Without this status, you’ll only earn 1 point per $1 spent.

    New customers will be automatically enrolled in Brex Exclusive for two months, but after that, you’ll have to show that Brex For Startups is your business’s exclusive corporate card.

    You can redeem points for a statement credit (each point is worth 1 cent), redeem points for travel through the Brex portal, or gift them to your team. You can also transfer points at a 1:1 ratio to travel loyalty programs, including:

    • AeroMexico – Club Premier
    • Air France KLM – Flying Blue
    • Asia Miles
    • Avianca LifeMiles
    • JetBlue – TrueBlue
    • Qantas Frequent Flyer
    • Singapore Airlines KrisFlyer

    Points do not expire, and there’s no minimum or maximum redemption amount.

  • No personal guarantee

    It’s common for small business cards to require a personal guarantee. In other words, you are ultimately responsible for paying off charges on a small business credit card, and your personal credit score can suffer if your payments are late. But Brex For Startups is different — it’s a corporate card and does not require a personal guarantee. This is great if you need a card for your startup operations but don’t want to put your personal credit on the line.

  • Numerous discount offers

    Brex lists its partner offers (discounts) at a value of more than $50,000, and the offers can be redeemed at any time. Here are the partners listed online:

    • Amazon Web Services
    • Aircall
    • Carta
    • Caviar
    • Clear Channel Outdoor
    • DocSend
    • Expensify
    • Experian
    • Freshworks
    • Google Ads
    • Gorgias
    • Guideline
    • HubSpot
    • Instacart
    • Intercom
    • Klaviyo
    • Knotel
    • MongoDB
    • Payoneer
    • Postscript
    • Quartzy
    • Snap
    • Segment
    • Science Exchange
    • SendGrid
    • Salesforce
    • Solium
    • Shippo
    • Stitch Labs
    • Twilio
    • WeWork
    • Zendesk
    • Zentail
    • Zoom
  • $0 annual fee

    For a card with rewards as generous as this one, a $0 annual fee is an excellent deal. Your first five cards are included — after that, additional cards are $5 per user per month.

  • Build business credit

    Brex reports to Dun & Bradstreet and Experian.

What to watch out for with the Brex For Startups

  • You have to have a lot of money in the bank

    You must have at least $50,000 in a U.S. bank account to qualify for Brex For Startups. The company’s website says companies that are typically approved generally have $100,000 in the bank at the time of application.

  • Your business must be structured a certain way

    If you want to apply for a Brex For Startups, your business must be organized and registered in the U.S. And though Brex doesn’t ask for a Social Security number, you will have to provide an EIN.

    Examples of eligible business structures include:

    • C-corps
    • S-corps
    • LLCs
    • LLPs

    Business types that are not eligible include:

    • Sole proprietors
    • Unincorporated partnerships
    • Companies registered outside the U.S.

    Brex also has a list of prohibited and restricted activities, so check to make sure your startup doesn’t run afoul of this list before you apply. For example, businesses involving marijuana or firearms won’t qualify for Brex For Startups.

    If your business doesn’t have the minimum amount of money in the bank or doesn’t meet the structuring requirements to apply for Brex For Startups, a more traditional small business card might fit your needs better.

  • Can't carry a balance

    This is a charge card, and everything that you put on the card will automatically be deducted from your company bank account each month. We don’t recommend carrying a balance anyway — but in the event that you need a little extra time to pay off a large purchase, for example, Brex For Startups won’t let you do that like a regular credit card would.

Alternate business card to the Brex For Startups

Compare it to the American Express Blue Business Cash™ Card.

| Disclosures
American Express Blue Business Cash™ Card
American Express Blue Business Cash™ Card
on American Express's secure site
Terms Apply
0% on purchases for 12 months from date of account opening
16.99% - 24.99% Variable
No annual fee
Earn 2% cash back on all eligible purchases on up to $50,000
  • Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
  • Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
  • From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
  • Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
  • 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 16.99% - 24.99%, based on your creditworthiness and other factors as determined at the time of account opening.
  • No Annual Fee
  • Terms Apply
680 850

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

 

Another solid card for business owners to consider is the American Express Blue Business Cash™ Card.

It’s worth noting that Brex For Startups has done a great job at carving out a unique niche for itself as a high-rewards corporate charge card designed for startups with a significant chunk of funding. So when we compare it to the American Express Blue Business Cash™ Card, which is a small business card, it’s not because the two are exactly the same — but because the American Express Blue Business Cash™ Card might suit a business owner’s needs at times when Brex For Startups wouldn’t.

With the American Express Blue Business Cash™ Card, earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%.

If you’re planning to make a big purchase and need time to pay it off, the American Express Blue Business Cash™ Card is worth a look. It offers an intro APR of 0% on purchases for 12 months from date of account opening, after which a 16.99% - 24.99% variable APR applies.

The American Express Blue Business Cash™ Card also offers Expanded Buying Power, which lets cardholders spend beyond their credit limit without penalty, and earn rewards on those purchases. We don’t recommend doing this regularly, but it can be good to have the flexibility in case you need to take advantage of a business opportunity with little notice. It’s important to understand that at the end of your billing cycle, the amount you charged above your credit limit will be due in full.

To see the rates and fees for American Express Blue Business Cash™ Card, please click here.

Compare the Brex For Startups to similar cards

Comparison of four different credit cards
Brex For Startups American Express Blue Business Cash™ Card Ink Business Cash<sup>®</sup> Credit Card Capital One Spark Cash Plus
Brex For Startups American Express Blue Business Cash™ Card Ink Business Cash® Credit Card Capital One Spark Cash Plus
Read Review
Apply Now
on American Express's secure site
Terms Apply
Apply Now
on Chase's secure site
Apply Now
on Capital One's secure site
Welcome Offer
None $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months LIMITED TIME OFFER: Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening Earn up to a $1,000 cash bonus; $500 once you spend $5,000 in the first 3 months, and $500 once you spend $50,000 in the first 6 months of account opening
Rewards Rate
Earn points on every dollar spent with industry-leading multipliers: 7x on rideshare, 4x on travel, 3x on restaurants, 2x on software subscriptions and 1x on all other transactions. Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn. 2% Cash Back on every purchase; 5% Cash Back on hotels and rental cars booked through Capital One Travel
Intro Purchase APR
N/A 0% on purchases for 12 months from date of account opening 0% Intro APR on Purchases for 12 months N/A
Regular APR
N/A 16.99% - 24.99% Variable 16.24% - 22.24% Variable N/A
Annual Fee
$0 No annual fee $0 $150
Recommended Credit
Excellent/Good Excellent/Good Excellent Excellent
Card Details
Brex For Startups American Express Blue Business Cash™ Card Ink Business Cash® Credit Card Capital One Spark Cash Plus

Is the Brex For Startups right for you?

If your startup is a C-corp, S-corp, LLC or LLP, and you have at least $50,000 in a U.S. corporate bank account or $50,000 in monthly sales, Brex For Startups could be a great choice. The rewards are generous — Earn points on every dollar spent with industry-leading multipliers: 7x on rideshare, 4x on travel, 3x on restaurants, 2x on software subscriptions and 1x on all other transactions. (That’s if you show Brex this is your business’s exclusive corporate card — otherwise you’ll earn rewards at a lower rate.)

However, it’s important to note that this is a charge card. If you want a card that will let you carry a balance, this isn’t what you’re looking for. We recommend considering a small business card, such as the American Express Blue Business Cash™ Card.

To see the rates and fees for American Express Blue Business Cash™ Card, please click here.

The information related to the Brex For Startups has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication.