Ramp Credit Card Review: Is Ramp Right For Your Business?

Pros

• A simple rewards scheme
• Valuable partner discounts
• A unique platform built to help companies cut costs
• Fee-free corporate card
• Spend management tools

Cons

• Available only to US-based non-individual liability companies
• High cash reserve requirements

What Is Ramp?

Ramp is a corporate card and expense management platform that offers more than just employee cards and spending rewards. Ramp centers itself around its stated mission of saving its customers money. This unique goal is met through algorithm-driven insights that look at where a company spends money to identify cost-cutting opportunities.

In this Ramp credit card review, we’ll be examining how well Ramp meets its stated goal of saving small business owners money. In doing so, we’ll assess Ramp’s corporate card policies, expense management, rewards, accounts payable, and eligibility requirements.

Ramp Credit Card Rewards & Perks

Ramp Cashback Rewards

When you use your Ramp corporate card, you’ll earn an unlimited 1.5% cash back on every purchase. Per an email from Ramp, these rewards are redeemable as statement credits. While that’s not the highest reward rate we’ve seen in a corporate credit card, it’s also not as complicated as the rewards programs of many Ramp competitors.

Considering the fact that you’ll find no category restrictions or annual limits on the cash back you can earn, it’s hard not to like Ramp’s base rewards package. However, as we’ll explain later, if your business spending is concentrated on such categories as rideshares or hotels, you’ll be able to earn more cash back with the corporate card programs of Brex and BILL Spend & Expense (formerly Divvy).

Other Ramp Rewards & Discounts

Additionally, Ramp offers discounts and rebates for a number of business products. These credits and discounts are worth up to $350K.

Here are a few examples of these credits and discounts:

• QuickBooks: 30% off for 12 months
• Amazon Web Services: Up to $5,000 in credits
• UPS: Save up to 50% each time you ship
• Xero: 25% off Xero Business Edition
• Slack: 25% off eligible plan upgrades
• HubSpot: 30% off your first year subscription
• Pulley: 25% off the first year

Ramp claims that when you put it all together, its customers save an average of 5% of their spending. Without independently verifying this figure, we can say that Ramp’s drive to eliminate unnecessary customer spending is unique within the greater corporate card space because most corporate card companies generate income via exchange fees.

As you’ll see in the net section, with Ramp, fees aren’t something you’ll have to worry about.

Ramp Credit Card Pricing & Fees

One of the best perks to Ramp? It’s completely free. That means you will avoid common fees, including:

• Setup fees
• Late fees
• Annual fee
• Foreign transaction fee
• Employee card fees

You’ll also encounter $0 in fees when you use Ramp’s powerful expense management software and additional features such as spend controls. It’s one of Ramp’s primary selling points.

While Ramp’s base services are still entirely free, Ramp now offers a premium subscription plan in the form of Ramp Plus. For $15 per user per month, you’ll get everything Ramp offers its free users, plus the following:

• Advanced policy & expense policy enforcement
• Advanced customizable workflows
• Issue spend limits and create spend programs in non-USD currency
• Get custom request intake forms and purchase order management as part of your accounts payable package
• Additional HRIS and accounting integrations
• Advanced accounting capabilities
• Advanced user roles & permissions
• Priority customer support
• Dedicated account management

Ramp now offers an Enterprise option as well. This plan gives you international card issuance and some other advanced perks. Pricing is quote-based, so you’ll have to contact Ramp if you’re interested.

Lastly, if you join Ramp Flex (which we’ll describe further in the Features section) to use financing to pay back vendors, you’ll see the cost of financing with the Flex option when you go to make a purchase.

Ramp Credit Card Requirements

The Ramp credit card is geared toward corporations and other non-individual limited liability companies registered in the US. Nonprofits are welcome to apply. Because Ramp serves corporations, no personal guarantee is required during the approval process. Instead, Ramp looks at your company’s cash balance, cash flows, and other financial health indicators. Ramp claims that its card offers 10-20x higher limits.

Note that if you are an individual, have a sole proprietorship, or run an otherwise unregistered business, you will not be eligible to apply for Ramp. The company says applicant companies should have most of their operations and corporate spending within the US.

On top of those basic requirements, Ramp also requires businesses to have at least $75,000 in their US bank account.

Ramp Credit Card Features

Ramp stands out due to its auto-generated savings insights tool that uses algorithms to notify you of duplicate subscriptions, redundant software purchases, lower pricing tiers, and more.

Having a corporate credit card that focuses on helping businesses spend less is certainly an interesting proposition. Because card issuers make their money through interchange fees (paid by the merchant) whenever a user charges a purchase to their card, encouraging businesses to spend less could ultimately hurt Ramp’s bottom line. However, Ramp hopes that potentially slimmer margins will be replaced by more clientele.

Now, with the introduction of paid levels of service that offer advanced features, Ramp has moved to further monetize its offerings. However, as we’ve said, the company’s pre-existing services are still free.

Before we deep dive into Ramp’s full feature set, let’s check out how it stacks up against standard corporate card features:

Ramp comes bundled with a few other notable features, including:

• Slack Integration: Ramp’s bot enables companies to request, review, and issue reimbursements, all within the comfort of Slack.
• Spend Request Tools: Employees can submit their spend requests via email, SMS, or directly through Slack.
• Out-Of-Pocket-Reimbursement: Ramp features a one-click reimbursement process for out-of-pocket requests.
• Accounting Features & Integrations: Besides a built-in account suite, Ramp integrates with QuickBooks and Xero. Ramp Plus subscribers can also integrate with NetSuite and Sage, while Enterprise subscribers can integrate with Oracle, Microsoft, and Workday.
• HRIS Integrations: Ramp bundles in integrations with a number of HR providers, including Rippling, Justworks, BambooHR, Hibob, and Gusto (Ramp Plus users can also integrate with Workday), that enable users to automate onboarding, streamline cardholders at scale, and sync employee details.
• Ramp Flex: Bringing buy now, pay later into the B2B payments space, Ramp’s newly-introduced Flex service allows businesses to use financing to pay back their vendors over a 30, 60, or 90-day period. Using Ramp Flex, Ramp pays your vendor right away, while you get extra time to compensate Ramp. You’ll also pay a fee to Ramp, the amount of which increases with the length of the financing period.

Ramp Customer Service

Based on reviews across various websites we looked at, including X/Twitter and G2, users generally find Ramp to have responsive and competent customer service. In fact, Ramp has one of the best customer service teams in the corporate card space, per our research.

You can contact Ramp by phone from 9 AM to 9 PM daily, with Ramp Plus users getting priority support and a dedicated support representative. You can also access a number of self-help resources online, or you contact Ramp support through your Ramp dashboard. We’ve also seen that Ramp is highly responsive across social media.

Ramp Credit Card Reviews & Customer Complaints

Ramp is well-reviewed by its users. The company receives 4.8/5 stars on G2 (based on over 1,700 reviews) and 4.9/5 stars on Capterra (based on 42 reviews). Ramp is also often highly recommended when people ask for corporate card/expense management recommendations on X/Twitter.

While you can find a few complaints in Ramp reviews, it’s difficult to find a consensus on what users dislike. Most Ramp users are happy, overall, with the features and services the company provides.

What Users Like About Ramp

• Solid and simple cash back rewards
• Responsive customer service
• Accounting integrations
• Easy to issue, manage, and terminate employee cards
• Receipt matching via text and email

What Users Dislike About Ramp

• Too many notifications
• Low/variable credit limit
• Cash back rate could be higher

Is Ramp Safe?

Keep in mind that Ramp is a financial services company, not a bank. While Ramp’s corporate card program may feel similar to financial services offered by banks, Ramp issues its corporate cards in partnership with Sutton Bank and Celtic Bank, both FDIC members. Additionally, while Ramp is relatively new compared to many banking institutions, the two banks that back its services are both reputable and longstanding institutions. This makes working with Ramp no less safe than working with a traditional bank.

On the day-to-day level, Ramp uses multiple security measures to protect users’ data. These include multi-factor authentication, SAML SSO account protection, encryption, tokenization, and more. Ramp operates in accordance with PCI DSS requirements and relies on penetration testing, external auditing, and an industry-leading firewall provider.

How Does Ramp Compare To Other Corporate Cards?

With flat-rate cash-back rewards, expense management, accounting, and HRIS integrations, and no credit card fees, Ramp is a great corporate credit card. But is it the one that best fits your business?

To help you determine this, let’s compare Ramp to two of its main competitors in the corporate credit card space, Brex and BILL Spend & Expense (formerly Divvy).

Open the links below for more detailed comparisons.

Final Verdict: Is A Ramp Card Worth It?

If you want a simple cash-back credit card with no fees for you and your employees, Ramp is an excellent option for most businesses. Besides its lack of fees, Ramp also includes software designed to cut costs across the board, potentially saving companies more than just the base 1.5% cash back. However, Ramp’s $75K cash requirement may be difficult for some businesses to overcome.

Again, while Ramp is not a bank, longstanding banking institutions back Ramp’s financial services. Additionally, the company has experienced a meteoric rise since its debut in 2020 to become one of the leading corporate card providers in a very short time. With a strong suite of expense management software, unique savings insights, and a solid (and universal) cash-back rate, it’s hard for us not to recommend Ramp as one of the best corporate credit card options around.

Some last thoughts:

• Our corporate vs business credit card comparison gets specific about the differences between corporate cards and conventional business credit cards, in case you were curious.
• To check out more leading corporate card options, our rundown of the best corporate credit cards is a valuable resource.
• For an in-depth look at the business credit card scene more generally, check out our list of the best business credit cards for small business.

Ramp Credit Card FAQs

The Merchant Maverick Seal of Approval 🏆

Ramp	Apply Now

After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see Ramp for yourself.

The Merchant Maverick Seal of Approval 🏆

Ramp	Apply Now

After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see Ramp for yourself.

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