Brex Card For Ecommerce Review
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- Date Established
- 2017
- Location
- San Francisco
Brex has been setting the fintech scene on fire recently with a slew of credit cards targeted at the modern corporate world. This Silicon Valley-based company, founded in just 2017, offers various cards that suit an array of company profiles, from startups to life sciences. One of its more intriguing options is the Brex Card for Ecommerce.
This corporate card was designed to be used by companies that drive their sales via the online world. It features extended payment terms and no fees of any kind, making it a great fit for those companies that need help smoothing out cash flow. Unfortunately, a lacking rewards scheme and the card’s applicant requirements may not make it a viable option for all companies.
Should your company add the Brex Card for Ecommerce as your corporate credit card? Find out by reading our in-depth look below!
Table of Contents
Eligibility
One of the most singular bits about the Brex Card for Ecommerce is how its applicant eligibility works. No personal credit scores will be affected when applying; instead, Brex will only look at what the company itself offers. You also won’t need to sign a personal guarantee with this card because Brex underwrites the company as opposed to individuals.
Brex has very specific eligibility requirements for the card: Your company must make at least $100,000 in monthly sales and have been in business for at least one year. Additionally, sole proprietorships aren’t eligible to apply.
You’ll also want to note that this card is designed for eCommerce companies. As such, companies that sell products in brick-and-mortar stores may want to look elsewhere for their corporate card.
Because the eligibility is so cut and dry with this card, Brex likes to market a speedy application process. According to Brex, you can fill out the application process in as little as five minutes and receive a virtual card instantly after being approved.
Brex Card For Ecommerce At A Glance
Brex Card for Ecommerce |
Annual Fee: $0
Purchase APR: N/A (this is a charge card) |
|---|---|
Rewards For Spending
You won’t get a traditional rewards scheme with the Brex Card for Ecommerce. However, there still are a few ways to save thanks to this card — primarily in the form of credits and discounts for various business services.
Receive Credits & Discounts For Signing Up
While you won’t be getting a traditional welcome offer, Brex does bundle in signup offers that the company claims are worth over $50,000 combined. These offers cover various credits and discounts usable with a number of popular business services, such as Amazon Web Service and Google Ads.
Brex includes several examples of these signup perks on its website:
- Amazon Web Service: $5,000 in credit over a year
- Google Ads: Up to $150 in credit
- WeWork: Up to 25% off the list price for six months for any new US office space (based on availability)
- Indeed: $500 credit towards sponsoring jobs
- Snapchat: $1,500 in credits for ads
Other services with available credits or discounts through the Brex card include Carta, Experian, Expensify, Dropbox, Postscript, Sendgrid, Zendesk, and Zoom.
No Basic Rewards Scheme
You won’t be collecting points every time an employee whips out their Brex Card and makes a purchase. Instead, Brex has focused this card on helping companies sort out cash flow problems — not saving a bit of money each time a card is used. There’s also the possibility of a very high credit limit, which may not be possible with a rewards-based card.
If you like what Brex offers, but would prefer a rewards-based card, check out the Brex Corporate Card For Startups.
Redeeming Rewards
Because the Brex eCommerce card doesn’t offer rewards for making purchases, there are no redemption options.
Card Benefits
There are several standard credit card benefits with this Brex card. However, the clear standouts are its potentially high credit line and long payment period.
Potentially High Credit Limit
With the Brex Card for Ecommerce, you can receive a credit limit equal to a maximum of 75% of your monthly sales. It’s worth noting, though, that Brex does cap the limit at a max of $5 million.
According to Brex, your projected sales will be estimated based on sales data you provide through a Shopify (or similar platform) integration. Brex isn’t clear on whether or not it reviews this data to possibly allow a higher credit limit down the line.
Net-60 Terms
Because this card is a charge card, you’ll be required to pay charges in full each time they’re due. However, Brex alleviates the pressure a bit with this card: You’ll have 60 days to pay off each charge.
That means there isn’t one big monthly bill due each month. Instead, you’ll make your payments within 60 days after charges are made. So if you were to make a purchase today, it would be due in exactly 60 days. Purchases made tomorrow would be due 61 days from today.
This type of payment model could potentially help companies that struggle with consistent cash flow month-to-month. With 60 days for paying off charges, you won’t have to worry as much should one month not bring in much money.
Can Help Build Business Credit
Responsible use of the Brex Card for Ecommerce can help your company build business credit. That’s because Brex reports your on-time payments to both Dun & Bradstreet and Experian.
Account Management Tools
Brex includes several standard account management tools. You can capture receipts via a mobile app, and they’ll automatically be added to match with your statement (submitting receipts via text or email works too). You can additionally add new users to issue cards to as well as track and set spending limits for all team members. Finally, Brex provides expense management integration with QuickBooks, NetSuite, Expensify, and Xero.
Fraud Protection
A credit card wouldn’t be a credit card without robust fraud protection. Brex promises that you’ll never be on the hook for unauthorized transactions. It protects your account with 24/7 real-time fraud monitoring as well as ID theft and purchase protection.
Rates & Fees
Hands down, the best part of the Brex Card for Ecommerce is its lack of interest rates or fees.
No APR
Because the Brex eCommerce card is a charge card (and not a traditional credit card), there is no APR to worry about because you won’t be allowed to carry a balance. Instead, you must pay off your charges in full every time they’re due.
No Fees
Brex includes absolutely no fees with this card. That means you won’t have to worry about dishing out an annual fee or incurring foreign transaction fees from employees traveling abroad.
Plus (because you’ll be required to link a company bank account to make automatic payments), you won’t need to worry about late fees, either. Note, however, that Brex does not make it publicly clear what happens if you don’t have enough money on hand to pay off your charges. (When the card launched in February 2019, Brex CEO Henrique Dubugras stated that the company might deactivate cards on delinquent accounts; it’s unclear if this still holds true today). As such, you’ll want to ensure that your company’s linked bank account always contains enough funds to pay off your Brex bill.
Is The Brex Card For Ecommerce Right For You?
The Brex Card for Ecommerce is a straightforward and simple corporate credit card. You’ll get extended time to pay off charges, but you will also have to weigh that against the fact that the card doesn’t include any sort of rewards scheme. Plus, the card’s applicant requirements will fit a very specific company profile, so smaller businesses may want to look elsewhere.
You might want to apply if…
- You have an inconsistent cash flow
- You don’t need a corporate card that offers rewards
- You want to avoid paying interest rates and fees
You might want to look for a different card if…
- You want a corporate credit card that offers rewards
- You have less than $100,000 in monthly sales
- You operate outside of the eCommerce sector
- Your business is a sole proprietorship
Jared Beilby
Jared is a writer hailing from the Pacific Northwest. Besides writing for Merchant Maverick, he has experience writing about sports and video games. He holds a Bachelor of Arts in Journalism from George Fox University.
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⭐️ Promo: Get 50,000 Bonus Points From Brex ⭐️
Brex Corporate Card for Startups  |
|---|
Brex Corporate Card For Startups has a great rating and comes with $0 in annual fees and 50,000 points as a welcome offer today. No credit check required. Apply Now At Brex.
⭐️ Promo: Get 50,000 Bonus Points From Brex ⭐️
Brex Corporate Card for Startups |
|---|
Brex Corporate Card For Startups has a great rating and comes with $0 in annual fees and 50,000 points as a welcome offer today. No credit check required. Apply Now At Brex.
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