Brex card review 2019: Who is it for, and what benefits does it offer?

The Brex Corporate Card for Startups and the Brex Corporate Card for Ecommerce have each been making the headlines recently, and for good motive. Brex just lately added the power to switch factors to airline companions, making its rewards far more priceless — and it simply added a seventh accomplice, JetBlue.

As a enterprise card with no private ensures and the power to earn a ton of bonus factors, it’s undoubtedly value contemplating for your enterprise. Here’s what it is advisable find out about each variations of this distinctive card.

Keep in thoughts that we’re specializing in the rewards and perks that make these bank cards nice choices, not issues like rates of interest and late charges, which may far outweigh the worth of any rewards.

When you are working to earn credit score card rewards, it’s essential to apply monetary self-discipline, like paying your balances off in full every month, making funds on time, and not spending greater than you’ll be able to afford to pay again. Basically, deal with your credit score card like a debit card.

Read extra: The finest small enterprise bank cards obtainable now

Brex card particulars

Annual charge: None

Sign-up bonus: 75,000 factors upon sign-up

Points incomes: Up to 7x factors once you make Brex your unique company card

Foreign transaction charge: None

Fees and spending restrict

There’s no annual charge or startup charge for the Brex playing cards. You’ll solely have to consider charges if you happen to want greater than 5 worker playing cards. Authorized person playing cards over 5 will price $5 per card, per 30 days.

The Brex card is a cost card with out a spending restrict, which implies you may should pay your stability in full every month. While there isn’t any spending restrict, Brex could restrict how a lot you’ll be able to have excellent in your card at any time.

How to enroll

How will Brex know if it’s your solely company card, you ask? The Brex card is the one company card that does not require a credit score verify, private assure, or a safety deposit. Instead, you may should hyperlink your checking account in order that Brex can know what your money scenario is like. (This additionally permits Brex to know whether or not you’ve got some other company bank cards linked to your checking account.) You’ll typically want not less than $100,000 in your company checking account to be accredited for a Brex card.

With the Brex Card for Startups and the Brex Card for Ecommerce, there is not an extended course of to get accredited. In reality, you may get accredited immediately if you happen to qualify. You can use your digital Brex card as quickly as you are accredited, and your bodily card will arrive in three to 5 days.

Read extra: four bank cards that earn essentially the most worth for my small enterprise

Welcome bonus

From September 24 to October 31, 2019, you may earn 75,000 bonus Brex factors once you join the Brex Card for Startups or the Brex Card for Ecommerce. (Previously, the card was providing 30,000 factors.)

Better but, Brex would not cease at a conventional welcome bonus. It additionally gives welcome credit that may be redeemed with different corporations throughout your first 12 months as a cardmember.

Here are a few of the gives obtainable:

  • Amazon Web Services — $5,000 in credit score for use over one 12 months
  • Google Ads — $150 credit score
  • WeWork — 15% off the listing worth for a six-month membership at a US location
  • DocSend — three free months
  • Expensify — 50% low cost on your first six months

Earning rewards with Brex

The Brex card gives nice rewards, so long as you are keen to make it your unique company card. Here’s what you’ll earn for purchases:

  • 7x factors on rideshare, together with Lyft, Uber, taxis, and scooters
  • 4x factors on Brex Travel, together with flights, lodges, and Airbnbs
  • 3x factors at eating places and espresso outlets
  • 2x factors on recurring software program prices
  • 1 level per greenback on all different purchases

If you do not make Brex your unique company card, you may solely earn 1 level per greenback spent on your whole purchases. In this case, you would be higher off placing your enterprise spending on a card just like the Ink Business Preferred Credit Card or the American Express® Business Gold Card to earn bonus factors.

Redeeming Brex factors

Brex gives various choices for redeeming your rewards factors. You have the power to redeem your factors for money again or for journey by Brex Travel, however now that Brex has partnered with seven completely different airways for transfers, you’ve got much more flexibility.

You can switch your Brex factors to the next airways at a 1:1 ratio:

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

The latest switch accomplice is JetBlue, which Brex simply added. To rejoice the addition of JetBlue, Brex is providing free round-trip flights on JetBlue to workers of the 5 Brex prospects that redeem essentially the most Brex factors with the airline. This promotion is operating till October 24.

Brex Card for Startups vs. the Brex Card for Ecommerce

While many of the options of those two variations of the card are the identical, there are a number of minor variations.

Brex Card for Startups options

  • Brex says that it gives 10 to 20 occasions greater credit score limits than competing playing cards.

Brex Card for Ecommerce options

  • Interest-free, net-60 cost phrases
  • Credit restrict of 50-100% of your projected month-to-month gross sales, as much as $5 million

Is the Brex card best for you?

The Brex card is an important choice for 2 foremost varieties of companies: the enterprise that commits to utilizing the Brex card solely and/or the enterprise that may make the most of the welcome gives which are obtainable for the primary 12 months.

If you are not capable of decide to utilizing the Brex Card solely, it would not make sense to spend cash on this card and earn just one Brex level per greenback for all purchases, however it may nonetheless make sense to enroll and use a few of the welcome gives.

Introducing switch companions has made the Brex Card a critical company card participant. If you are contemplating a brand new company credit score card and can decide to Brex solely or wish to check out a few of the companies supplied with the welcome bonus, check out the Brex Card now.

Click right here to study extra in regards to the Brex Card for Startups.

Click right here to study extra in regards to the Brex Card for Ecommerce.

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