Rho Business Credit Card Review 2024

Is It the Best Credit Card for Your Startup?

Smiling business person pointing at 4.9 stars and Rho logo.

The Rho Business Credit Card is a corporate card issued by spend and cash management company Rho as part of its business banking platform. This card is meant for small businesses that are either corporations, limited liability companies (LLCs), or limited partnerships (LPs), and is ideal for venture capital-backed businesses experiencing or expecting rapid growth. What’s more? There is no annual fee.

Is the Rho Credit Card right for your startup? Read on to learn about Rho’s business credit card requirements, its features, and how it compares to another small business credit card, the BILL Divvy Corporate Card.

Apply now for a Rho Business Credit Card.

Rho Eligibility Requirements

To be eligible for a Rho account, a business must have been formed in the US, be either a corporation, limited liability company (LLC), or limited partnership (i.e., no sole proprietorships or general partnerships) and have revenues greater than $1 million per annum or have attracted $1 million or more in equity capital. 

An application for a Rho Account will typically require: 

  • Articles of Incorporation (for corporations) or Articles of Organization (for LLCs)
  • Bylaws (for corporations) or operating agreement (for LLCs)
  • EIN confirmation letter (CP 575)
  • Beneficial owner information

The approval process for the Rho Card doesn't involve a personal credit check, and neither a personal guarantee nor collateral is required. But your company must maintain a minimum bank account balance of $50,000 ($100,000 for international companies) or have monthly expenses of $5,000 or more on corporate credit cards.

Pros and Cons of Rho Business Credit Card

Pros of Rho Business Credit Card

  • Requires no personal guarantee to qualify 
  • Attractive rewards program with cash back of up to 1.75%
  • No transaction fees for international payments
  • Flexible credit terms
  • Comes with a suite of banking services

Cons of Rho Business Credit Card

  • Relatively new company (founded in 2018)
  • Newer card (launched May 2021)
  • No ATM withdrawals

Rho introduced a mobile app in June 2022. The app is available for both iOS and Android devices. 

Rho Business Credit Card Fees and Features

The Rho Card is a charge card, not a credit card, so the balance outstanding on the due date must be paid off in full. A balance cannot be carried over from one statement period to the next. 

However, the Rho Card offers flexible payment options that involve a trade-off between rewards and repayment terms. Account holders can tailor terms in a way that best suits their financial situation. They can enjoy an extended repayment period of up to 60 days by eschewing cash back. Or, obtain a maximum cash back of 1.75% if payment is made one day after expenditure. 

Payment terms include:

  • One-day card: Payment made on the day after purchase (1.75% cash back)
  • 30-day card: Monthly statement period + up to one day to pay (1.5% cash back)
  • 45-day card: Monthly statement period + up to 15 days to pay (0.75% cash back)
  • 60-day card: Monthly statement period + up to 30 days to pay (0% cash back)

These payment options may be altered up to four times a year. 

The Rho card is a Mastercard, and so transaction fees (merchant fees) range from 1.15% to 2.50%, with an added fee of $0.05 to $0.10 per transaction. This means that there are no fees for international transactions with countries where Mastercard has a presence. 

The Rho Card comes with an associated suite of commercial banking services that include FDIC-insured commercial checking and treasury accounts at partner banks, and automated no-fee accounts payable.

Rewards and Benefits

  • Cash back of up to 1.75%
  • Associated banking services
  • Fee-free banking and global payments

Interest Rates

  • 0% APR

The Rho Card is a charge card. Generally, no balance may be carried forward, so there are no interest charges. However, there is an option to carry forward a balance, which must be paid off at the very latest 60 days after the expenditure was incurred. There is no interest charge for the extended repayment period.


  • Transaction Fees: 1.15%–2.50% plus $0.05–$0.10 per transaction
  • No annual fees
  • No late fees

Rho customers can earn extra cash back through Mastercard’s World Elite Business program. With Mastercard Easy Savings, you’ll automatically receive a 1% to 25% rebate on qualifying advertising, technology, travel, and entertainment, including 4% cash back at more than 20,000 restaurants and hotels across the United States.

How Does Rho Compare?

Rho may be a great card for a startup, particularly one that intends to tap external equity financing, which means the startup will most likely be organized as a C corporation (C corp). VC firms provide funds in return for a stake in your company — they can only do that if your company can issue shares, which only a C corp can do. This means that sole proprietorships (and pass-through entities such as LLCs) are unlikely to attract a VC investment. 

That being said, the Rho Card is open to LLCs but not sole proprietorships. BILL, on the other hand, is available to sole proprietors, LLCs, and corporations. 

In addition, while Rho has a good rewards program, BILL’s program is matchless. Cardholders can earn up to 7x points on some expenses if they pay off the balance more than once a month. The BILL Divvy Corporate Card may be the card for you if you plan to retain control of your business or expect it to scale over a longer period.


$0 Annual Fee 

Offers an associated suite of commercial banking services that include checking and treasury accounts. 

Best for: Businesses undergoing or expecting rapid growth. 


$0 Annual Fee

Attractive rewards program — up to 7x points on restaurant purchases, 5x points on hotels, 2x on recurring software subscriptions, and 1.5x on everything else.

Best for: Sole proprietorships looking to establish business credit.

Final Thoughts on Rho Corporate Credit Card

The Rho Credit Card is a charge card meant mainly for VC-backed businesses that are at least six months old. It comes bundled with a suite of banking services that include zero-fee foreign payments, automated accounts payable, robust budgeting, reporting, and automated accounting, and a dedicated Rho Business Banking specialist to provide expert support seven days a week. 

Rho’s business credit card offers an easy way to smooth out cash flow. Repayment terms can extend for up to two months. So despite being a charge card, it’s possible for a balance to be carried over from one statement period to the next. The Rho Card will be a boon to young businesses that are beginning to gain traction.

Frequently Asked Questions

What are the requirements for Rho’s Corporate Card?

To be eligible, your business must be incorporated in the United States and be a business entity that requires registration with state authorities, such as a corporation, limited liability company (LLC), or limited partnership (LP). It must also have revenues greater than $1 million or have raised $1 million or more in equity capital. Rho doesn't serve sole proprietors, general partnerships or other unincorporated businesses.

Is Rho a bank?

No. Rho isn't a bank. Rho is a financial technology (fintech) company that provides a range of banking and accounting services through a network of commercial banks. Banking partners include Evolve Bank & Trust, Webster Bank, N.A., and other financial institutions. 

Is Rho secure?

Checking accounts and treasury accounts provided through Rho are protected by deposit insurance with the Federal Insurance Deposit Corporation (FDIC). Checking account balances up to $250,000 and Treasury account balances up to $75 million are covered. 

Do I have to provide a personal guarantee to get a Rho Card?

No. The credit facility provided to your business is determined solely by the business's financial strength. 

How will my business’s credit limit be determined?

Rho determines your credit limit by considering a wide range of key performance indicators (KPIs), such as revenue growth, spending patterns, and balance sheet liquidity. This is in contrast to established financial institutions that lend only to businesses with a lengthy history or substantial cash balances. 

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