Brex Corporate Credit Card Review 2024

Brex has tailored its corporate card to startups with the potential to scale. Your business must also be flush with cash, although it’s unclear how much cash. The requirements for a Brex account include “more than $500,000 in cash”, while to qualify for monthly payments, you must have at least $50,000 if you have professional investors and a minimum of $1,000,000 if you're bootstrapping. 

Here’s the sort of enterprise that will be eligible for a Brex Account:

• Is a state-registered entity
• Has a cash balance of at least $500,000
• Has obtained equity investment via accelerator, angel, VC, or Web3 token
• Has revenue greater than $1 million a year 
• Has more than 50 employees
• Is a tech startups on the way to satisfying the above criteria and is referred by an existing customer

To be eligible for the Brex card, your business must have an Employer Identification Number (EIN) and have a formal business structure, such as a C corporation, S corporation, limited liability company (LLC), or limited liability partnership (LLP). Sole proprietorships and general partnerships won’t be allowed to open an account, and neither will someone who wants to use the card for personal transactions. The Brex card is meant for incorporated businesses only.

Any unincorporated business that applies for a Brex card will be referred to LegalZoom, which provides legal services to organize, incorporate or register a company. If you do decide to convert your business to an approved form, and you spend $1,000 within your first 90 days, you will earn 30,000 reward points to offset the cost of your LegalZoom business formation package.

You’ll need to give Brex access to your bank account information since eligibility depends, to some degree, on the amount of cash in your business bank account. But no personal guarantee is required, nor will approval depend on your credit status. Brex makes no credit check.

To determine eligibility, Brex also looks at a company’s business model, its source of funds and spending patterns, and other factors that may affect credit risk.

• Inviting new cardholder bonus offer
• No personal guarantee required
• Can be used to build business credit
• Attractive rewards program
• No credit checks

• High bank balance required
• Revenue of $1,000,000 or more a year to qualify 
• Must have 50 employees or more

The Brex Card packs a bunch of goodies. For starters, Brex claims its credit limits are 10-20x higher than most small business corporate cards. The card also offers several points rewards. 

Rewards can be redeemed in several ways — as gift cards, statement credits, and Bitcoin or Ethereum — at a value of $0.07 per point. Redemption options also include trading in for discounts on travel booked through the Brex Travel portal or as a transfer at a penny-per-point value to one of Brex’s airline or travel partners. The list is long and includes Aeromexico, Air France/KLM, Cathay Pacific, Emirates, Qantas, and Singapore Airlines. 

The Brex Card offers a choice of two sorts: one, you must pay every day; the other, you can pay once a month. Brex can also integrate with many business applications, including Concur, Expensify, NetSuite, QuickBooks, and Xero. What’s more, it will also work with Apple Pay, Google Pay, Samsung Pay, and Brex Cash.

A Brex card account can issue any number of virtual cards, each with different spending limits. So every eligible member of your team can benefit from the service. 

• Sign-up bonus of 10,000 points when you spend $3,000 on a Brex Card within your first three months
• Tiered reward points system, from one point to seven points per dollar
• Reward points can be redeemed through statement credits, cryptocurrencies, and by transfer to travel partners 
• Deals and discounts at various vendors, including Amazon Web Services, Google Ads, WeWork, Indeed, and Zoom

There are also rewards for Brex cardholders who also open a Brex Cash Account: 

• 7x on rideshares
• 4x on Brex Travel
• 3x on restaurants and eligible Apple purchases
• 2x on software subscriptions
• 1x on all other transactions. 

• 0% APR

Brex is a charge card, so no carryforward balances are allowed. No carryforward balances mean no balance to charge interest on, meaning no interest charge. 

• No fees

Since the Brex Card is a charge card, you won’t be burdened with interest charges. Also, there are no monthly or annual maintenance fees or any excess fees for foreign transactions. Brex makes its money from regular transaction fees, which are paid by the businesses you buy from. 

Despite its obvious advantages of no fees and great rewards, the Brex may not be the right card for you, or you may not satisfy Brex’s eligibility requirements. 

If your business has a healthy cash flow but doesn’t qualify for the Brex card, you may want to consider the BILL Divvy Corporate Card. To qualify for the BILL Divvy Corporate Card, your pockets don’t need to be as deep as with the Brex card, nor do you need an extensive credit history.

Explore more of the best Brex alternatives.

The Brex is a good corporate card for young companies with lots of cash they’re planning to spend on scaling and development. Since it's a corporate card, qualifying depends on business criteria. Owners’ limited or poor credit history won’t figure in the equation. It has an attractive sign-up bonus of 10,000 if $3,000 is spent using the card during the first three months.

Compared to other cards, the Brex reward system is superior. It’s possible to earn up to 7x in points. And points can be redeemed in many ways, such as in exchange for cryptocurrency, gift cards, and account credits, or they can be spent at a few top airlines Brex has partnered with.