Brex Corporate Card Review 2023
The Brex credit card has great rewards, useful spend-management tools, and instant payouts for Amazon sellers. It's available only to corporations and requires daily repayment for top rewards. Is Brex right for your business?
Brex At A Glance
- Corporate credit card with linked cash management account
- Aimed at investor-backed startups with $1 million+ annual revenue or 50+ employees
- Partner perks through brands, such as AWS, QuickBooks, and UPS, worth $180,000+ combined
- Flexible rewards
- Linked cash account with high APY
- Valuable partner discounts
- No personal guarantee or credit check
- Limited to C-corp, S-corp, LLC, and LLPs with equity investors, $1 million/year in revenue, or 50+ employees
- Top rewards require an exclusivity agreement
- New users must pay balance daily
- Hefty cash reserve requirements
Table of Contents
- What Is Brex Corporate Card?
- How Does Brex Work?
- Brex Credit Card Rewards & Perks
- Brex Card Pricing & Fees
- Brex Corporate Card Eligibility Requirements
- Brex Card Features
- Other Services Offered By Brex Corporate Card
- Brex Customer Service
- Brex Reviews & Customer Complaints
- Is Brex Safe?
- How Does Brex Compare To Other Cards?
- Final Verdict: Is Brex Worth It?
- Brex Credit Card FAQs
What Is Brex Corporate Card?
Brex is a fintech company offering a full suite of financial services, including corporate credit cards, expense management software, bill payments, spend management, and select business banking services to corporate clients. The Brex card delivers impressive rewards, with up to 8x points on certain purchases made with the Brex card.
However, Brex aims to be more than a spending card. When you start using the Brex card, you gain access to a complete finance-management platform that helps you and your employees make purchases, track expenses, and access smart budgeting tools.
Note that Brex is currently focused on working with venture-backed startups and mid-market companies rather than smaller private businesses. If your small business is professionally funded or received non-traditional funding prior to opening its doors, you may be wondering if the Brex credit card is a good choice to simplify your finances.
Could Brex be what your small business needs? This Brex credit card review will help you decide.
How Does Brex Work?
Brex works like a charge card, rather than a traditional business credit card, meaning that you won’t be able to carry a balance from month to month. (If you’re looking for a business credit card, you may find the one you’re looking for on our list of the best business credit cards for startups.)
Brex offers some eye-popping rewards, returning up to 8x on certain purchases. However, if you want to access that top rate, you’ll need to pay off your balance daily and make Brex your exclusive corporate card. Brex also offers standout spend management tools, bill payment, employee cards, and integrations with some useful business software. Read on for more details on all these.
Brex stands out from many of its competitors in the corporate card field by offering a linked cash management account, Brex Cash, that provides basic business banking services. Brex Cash offers its users unlimited deposits, payments, and transfers as well as an attractive APY without restricting access to funds. You can learn more about the banking service Brex offers in our comprehensive Brex Cash review.
Brex Credit Card Rewards & Perks
Brex corporate cards come with some truly impressive points-earning potential in several spending categories. In fact, the rates are among the highest available in the crowded field of corporate cards, with no cap on earnings. Brex points never expire.
Let’s start with the standard rewards rate, before going into some ways to increase the rates you earn.
- 7x points per $1 on ridesharing and taxis
- 4x points on trip arrangements booked via Brex Travel
- 3x points on restaurant purchases
- 3x points on eligible Apple product purchases made through the Brex Rewards portal
- 2x points on recurring software subscriptions
- 1x points on everything else
You can earn slightly higher rewards rates if you use Brex exclusively for corporate spending and qualify for the Brex Exclusive rewards program. It’s open to users in the following categories:
- Brex Exclusive Life Science Rewards: Life science companies earn increased points on lab supplies and life science conference tickets rather than recurring software, rideshares, and restaurants.
- Brex Exclusive Daily Payments Rewards: You’ll receive a 1X points boos on certain spend categories when you make daily payments from a linked Brex business bank account.
- Brex Exclusive Custom Rewards: Companies with 50+ Brex users that meet minimum spending requirements can earn additional flat-rate rewards. You’ll need to speak with a Brex rep to learn more about qualifications and rewards.
How To Redeem Brex Points
The Brex points you earn never expire, and they can be redeemed only by an account or card administrator. Points can be used for gift cards (Amazon.com or prepaid Mastercard) or travel accommodations booked through Brex Travel.
You can also transfer your points to partner airlines, receive a statement credit, or arrange to have crypto (Bitcoin or Ethereum) payments sent to an external wallet. If you use a Brex Cash account, you can redeem points for cash back into your account.
New: Brex has added some new points redemption options since the time of our last review. Brex customers can receive mental health benefits through Spring Health mental healthcare, organize team offsite meetings and events with Brex partners, or receive executive coaching in exchange for Brex points.
Brex points rewards are uncapped, and the multipliers are not cut off or reduced after you hit any spending or rewards limits.
Brex Partner Perks & Signup Bonus
New Brex customers can earn a 10,000-point bonus after they spend $3,000 within their first three months. All Brex customers can take advantage of exclusive signup offers from various partners worth more than $180,000. Here are some examples:
- Amazon Web Services: $5,000 credit
- QuickBooks: Get 30% off your first 12 months of QuickBooks
- UPS: Save up to 50% on every shipment
- Gusto: Get 50% off any annual subscription plan for the first year
- Slack: 25% off 12 months of eligible Slack paid plans
- Vouch: Save up to 25% on business insurance and earn 10,000 Brex Points
- Freshworks: $10,000 credits on Freshworks suite of products
Empower is a financial software platform within Brex that includes advanced budgeting tools, receipt integration, expense comment fields, customizable accounting fields, global currency support, and more.
Brex Empower is available to all Brex business accounts at no added cost.
Brex Finance Tools
Brex users also gain access to a variety of tools, which we’ll cover in-depth in the Brex Features section below. In addition to corporate cards, Brex supports bill payment, accounting, and spend management. These tools and features are one of Brex’s calling cards and deliver significant value to Brex cardholders.
Brex’s Money Market Fund
Finally, cash invested in Brex’s money market fund may earn variable interest rates. At the time of this review, funds invested in Brex Cash’s money market fund earn 4.92%, based on an average seven-day yield. This rate is subject to change. Visit the Brex Cash Yield & Fees Schedule page to see current rates.
Brex Card Pricing & Fees
|Global ACH Fee||$0|
|Wire Transfer Fee||$0|
|Foreign Transaction Fee||$0|
|Additional Cards Fee||$0|
Brex is free to use, with no annual or account fees, global ACH or wire transfer fees, or fees for employee cards. The Brex card carries no foreign transaction fee.
Combine these fee-free transactions with the generous points-earning for travel purchases, and you’ve got the makings of a nifty business travel card.
Brex Corporate Card Eligibility Requirements
|Business Type||Corporations, LLPs., LLCs|
|Minimum Annual Income||More than $1 million|
|Cash Requirement||$50K minimum for monthly, not daily, repayment|
Brex eligibility requirements are easy to find and understand, but they’re a little complicated and worth unpacking. Brex has recently sharpened its focus on equity-backed tech startups and has completely stopped serving smaller businesses.
For starters, you’ll need US incorporation documentation, business registration, EIN and billing address. If you live outside the US but do business here, you may be eligible if you have a valid international residential address. All businesses that want to use Brex must have a US bank account or apply to use Brex Cash. Brex is open to various types of businesses but has a list of prohibited activities and businesses.
Brex works with some nonprofits. If you’re interested in applying for a Brex card, be prepared to show Form 990 from the past two years, proof of 501(c)(3) designation, articles of incorporation, and information on your board of directors and governance or bylaws.
Successful applicants will meet at least one of the following criteria:
- Equity investment of any amount and kind (from accelerator, angel, VC, or web3 token)
- More than $1million in annual revenue
- 50+ employees
- $500,000 minimum cash holdings
Tech startups that are on track to meet those requirements may be accepted if they are referred by a current Brex customer or partner. Because of this complexity, be aware that Brex can take up to 15 business days to review your application and reach a decision.
Brex Corporate Card Payments
First, Brex is available only to C-corp, S-corp, LLC, or LLP corporations. As Brex underwrites with Employer Identification Numbers (EINs) and not Social Security numbers, consumers and other unregistered businesses are not eligible. Sole proprietorships are not eligible even if they have a valid EIN.
Although Brex requires its clients to operate in the US, provide services and products to US customers, or employ/contract with or have plans to employ/contract with US personnel, Brex now offers support and incentives to foreign-based companies interested in becoming incorporated in the US. The support comes via a partnership with Firstbase and delivers Brex Rewards points.
According to Brex, when assessing your company for eligibility, “Brex analyzes a company’s business model, source of funds, spending patterns, and other areas that may pose a higher risk to Brex and our partners.” Companies that qualify will likely be offered a card with daily repayment required via a Brex Cash account. Those making daily payments will have a credit limit calculated at 100% of their Brex Cash account balance, with connected bank accounts not entering the consideration.
After establishing a history with Brex, larger companies may be able to pay less frequently or pay with an external bank account. Those wishing to pay less frequently will be given a credit limit between 5%-20% of their aggregate bank balance + 30% of their Brex Cash balance, with autopay required from any linked bank account.
Brex Card Cash Requirements
Brex requires its customers to have a certain amount of cash on hand before they’re eligible for approval. You’ll also need to maintain a minimum balance at all times to continue using Brex.
Generally, that means a balance of at least $50,000, although Brex may adjust this amount based on its determination of your creditworthiness and risk. If your company’s net balance falls below your limit, your credit limit may be revoked. Keep in mind that most new customers will be required to pay off their Brex card balance daily.
Some companies may apply for monthly payments instead of daily, but to qualify, they’ll need to demonstrate significantly higher cash reserves:
- Self-funded startups must have a minimum of $1 million in a US bank when they apply.
- Startups with professional investors can get by with a $50,000 minimum balance in a US bank.
- eCommerce companies are required to have $1 million if they are self-funded.
Brex Personal Credit Score
Two final notes on eligibility for the Brex credit card: Brex does not check your personal credit score when you apply for an account, and it won’t require that you sign a personal guarantee.
Brex Card Features
|Cards||Issue physical and virtual Brex to your employees at no cost|
|Card Controls||Tailor employee cards with custom limits for each subscription, vendor, and employee|
|Card Benefits||The Brex card comes with the World Elite Mastercard benefits package|
|Transfers & Deposits||Add funds via ACH, wire transfer, and mobile check deposit; no cash deposit|
|Spend Tracking||Track spending in real-time|
|Bill Payment||Automated bill pay via email forwarding|
|Mobile App||Deposit checks, approve payments, and manage cards on both iOS and Android devices|
|Savings||Brex doesn’t have a savings account, but it offers access to a government money market mutual fund via Brex Cash|
|Access To Credit||Venture debt program for startups|
|Merchant Services||Integrations with Amazon, PayPal, Shopify, Square, and Stripe|
Brex is a full financial stack that aims to deliver an all-in-one solution for startups and growing businesses. Brex’s feature set is built around its corporate card and cash management account products. These tools enable businesses to track where and how employees are spending money more easily.
Even better, most features are built-in and won’t cost a cent to use.
Let’s take a deeper look at some additional features Brex bundles in:
- Brex Instant Payouts: Brex users who also sell on Amazon may be able to use the Instant Payouts option to receive revenue from Amazon instantly instead of waiting out Amazon’s payout period. Successful applicants will already use Brex Cash. A 1.5% fee will apply to each payout.
- eCommerce Connections: Connect your Brex account to your eCommerce sales platform or POS. Supported platforms include Amazon, BigCommerce, Braintree, PayPal, Shopify, Square, Stripe, Venmo, Wix, and Xoom.
- Flexible Credit Limit: Your company’s credit limit for the Brex Card is flexible and linked to the amount of money in your Brex Cash account plus external accounts. That means your credit limit will fluctuate automatically as your business grows. It also depends on your repayment rate: Pay daily, and your Brex card limit can be up to 100% of your balance.
- Receipt Matching: Upload receipts to the Brex mobile app, and they will be automatically matched to your company’s statement. Receipts can also be submitted via text and email.
- Fraud Coverage & Alerts: Brex keeps your account secure with 24/7 fraud monitoring.
- Travel Perks: Brex users have access to Brex Travel, a portal powered by TravelBank that uses real-time data to predict travel costs and build travel budgets. The app features curated travel bookings with special corporate rates, a rewards program that incentivizes cost-effective options, and 24/7 support. Brex also offers a travel concierge service 24/7.
- Software Integrations: Make reconciliation easier and avoid accounting errors when you integrate accounting tools with your Brex account. With thousands of available integrations, you’ll find many of your favorites, including QuickBooks, ADP, Xero, NetSuite, Expensify, Concur, Gusto, Sage Intacct, SAP Concur, Oracle Netsuite, Rippling, Zoom, and many more.
- Pay Invoices Automatically: Forward bills and invoices to Brex via email to pay vendors without additional data entry.
- Spend Controls: Set custom expense policies and manage employee spending with approvals for out-of-policy spending and limit increases, and alerts for unusual spending, duplicate subscriptions, or price increases.
Finally, you can add money to your Brex Cash account via a number of different methods. Let’s take a look at the typical processing times for each method:
|Incoming Payment Method||Processing Time|
|ACH||3-5 business days|
|International ACH||7-10 business days|
|Domestic Wire||1-2 business days|
|International Wire||3-5 business days|
|Check Deposit||5-7 business days|
Other Services Offered By Brex Corporate Card
Brex is a corporate card and so much more. Especially if you use Brex Empower, you will have access to what’s essentially a complete financial services provider. Here are some functions you won’t want to miss:
- Brex Cash: Brex is one of the only cards to offer a cash storage option. Brex Cash allows you to store money via Brex’s partner banks (eligible for FDIC insurance up to the legal limits) and/or a government money market mutual fund. The money market mutual fund currently offers a 4.92% yield, but rates are based on current rates and subject to change.
- Expense Tracking: Brex includes expense-management tools that help you sync expenses across systems and automate reconciliations. You’ll be able to issue cards, search transactions, approve expenses, follow up on them, and more, all from your Brex dashboard. You can set custom limits and give users approval to spend for specific items. Custom spend reports help reveal cost-saving opportunities. Employees can email or text receipts and have them matched automatically to the right expenses.
- Empower: Brex customers can choose to use Empower, a separate linked software platform with enhanced spend management tools. You can access Empower through your Brex dashboard, where Empower lets you use a Your Wallet tab and a Budgets tab. Empower includes a Lyft receipt integration and customizable accounting fields that connect to your existing ERP integration. You can also use Universal CSV. If you manage employees overseas, Empower allows you to see both reimbursements and expenses in the original currency purchases were made. Autogenerated receipts attach to transactions and allow you to track spending and ensure compliance. You can access multiple budgets and toggle them, so transactions instantly show as spent from the appropriate budget.
- Financial Modeling: Brex offers cardholders access to a platform called Pry that enables accurate forecasting, scenario planning, and KPI dashboards.
Brex Customer Service
|Dedicated Support Representative|
|Knowledge Base or Help Center|
|Videos & Tutorials|
After studying various review websites for user experiences, we can say that Brex generally has well-received customer service. In fact, several users suggest that Brex’s customer service is better than that of traditional banks. Users appreciate Brex for having customer service that is quick, friendly, and helpful. A typical comment about Brex customer service is, “They listen to what you say” and even make adjustments to products and features.
We’ve also noticed that Brex is responsive across its social media channels, including Twitter, Facebook, LinkedIn, and Instagram.
Brex Reviews & Customer Complaints
Brex scores highly across user reviews. Brex receives an average of 4.5/5 stars (based on 1,125 reviews) on G2 and 4.5/5 stars (based on 128 reviews) on Capterra.
In a previous Brex review, we noted a bit of a misstep when looking at the Brex mobile app. However, users’ ratings have shown improvement, with an average of 4.5/5 stars (based on 966 reviews) on the Google Play Store and 4.9/5 stars (based on 3,200+ reviews) on the Apple App Store.
Brex has consistently been considered one of the top fintech startups. Brex credit card reviews reflect that Brex is a solid company that offers a quality product.
Negative Brex Credit Card Reviews
- Uploading receipts and adding details can be difficult
- Expense tracking is limited
- Credit limits being tied to a bank balance can create uncertainty about funds availability
- It can be hard to reach customer service
Positive Brex Credit Card Reviews
- Generous rewards
- Excellent for international use
- Smooth and easy onboarding
- Intuitive user interface
- Virtual cards
- Excellent customer support
Is Brex Safe?
Brex’s corporate card operates on the Visa card network, issued by Emigrant Bank, Member FDIC. That means customers will have access to all the security features available from the bank and the Visa network, including zero liability and ID theft protection to help minimize fraud.
Brex also protects users with fraud monitoring and protection; secure browsing, authorization, and authentication; data privacy; and full PCI-DSS certifications where available. These factors mean that Brex should be generally safe to work with.
How Does Brex Compare To Other Cards?
Brex is a solid corporate card with above-average rewards, free cards for employees, valuable partner perks, and strong tools for expense tracking and spending controls. But is Brex the best corporate card for your business?
To help you answer that question, let’s see how Brex stacks up against a couple of other strong contenders, Ramp and Divvy.
|Rewards Rate||1x-8x rewards points||1.5x-7x rewards points||1.5% cash back on all purchases|
|Business Type||C-corp, S-corp, LLC, & LLP||Sole proprietors, corporations, & LLCs||Corporations & LLCs|
|Minimum Bank Balance||Depends on business type & repayment schedule||$20K||$75K+|
|Credit Score||None||Good or very good||None|
The table above gives you an overview. Open the links below for more information about some key comparisons.
Final Verdict: Is Brex Worth It?
|Business Size||Corporations only|
|Rewards Rate||1x-8x points|
|Choose If You Need||
Brex is well on its way to becoming a one-stop shop for business financial solutions. Between its cash management account and its corporate card, Brex is suitable for qualified businesses that need to store cash using the attached Brex Cash account and facilitate employee spending. Plus, the company offers solid expense tracking and receipt matching tools, ultimately helping businesses understand where and how money is spent.
Whether Brex is worth it to your business will depend on individual factors. That said, Brex will be a solid choice for qualifying businesses (corporations, LLCs, and LLPs only) that need a corporate card, a cash management account, or both.
Brex Credit Card FAQs
The Merchant Maverick Seal of Approval 🏆
After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see Brex for yourself.
The Merchant Maverick Seal of Approval 🏆
After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see Brex for yourself.