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50,000 signup bonus factors after spending $9,000+ within the first 30 days
Review: Is the Brex Card one of the best bank card for you?
When you consider probably the most rewarding small-business bank cards, you may assume that you’re going to must shell out a large price every year for the flexibility to rack up bonus factors. The Brex Card, nevertheless, proves that assumption incorrect.
The Brex Card would not cost an annual price, and no private ensures or credit score checks are required to be permitted. Plus, new cardholders can earn 50,000 signup bonus factors after spending $9,000+ within the first 30 days.
The Brex Card nonetheless packs a beneficiant reward construction, which may be tailor-made to pay out extra based mostly on the kind of enterprise you run. Here’s a take a look at an ordinary rundown of incomes potential:
- 8x on ride-sharing spending
- 5x on journey booked by the Brex portal
- 4x at eating places
- 3x on eligible Apple purchases made by the Brex portal
- 1.5x on promoting
- 1x on all different purchases
There are just a few key caveats to the rewards construction. Let’s begin with an important piece of the puzzle: You have to make use of the Brex Card solely to get in on all these bonus alternatives. After two months, you need to “ensure card exclusivity,” which I assume you do by linking your different financial institution accounts.
If you are utilizing different small-business bank cards, your rewards dip to a measly 1 level per greenback, plus 3x for eligible Apple purchases — a rewards construction not value celebrating. So, this bank card is just for enterprise house owners who aren’t afraid of a critical dedication and who’re prepared to interrupt up with their different playing cards.
Read extra: The greatest small-business bank cards in 2021
Now, if you may make it your unique card, Brex presents some extra choices to make the cardboard extra rewarding based mostly in your spending routine. For instance, if your organization calls itself a tech firm, you may earn 3x on recurring software program purchases. If your organization works within the life sciences, your highest payout — 8x — comes on convention tickets. So, if 5 of your staff are registering for that massive annual assembly on biomedicine with a price of $2,000 per ticket, that payout can turn out to be useful. You’ll additionally study 2x on lab provides.
Choosing a bank card that earns bonus factors within the classes the place you spend probably the most can help you maximize rewards — read Insider’s guide to the best rewards credit cards for our top picks.
Another big differentiator is that Brex rewards you more if you pay your bill on a daily basis, similar to a debit card. To do that, you deposit money into a Brex cash account, and each day, your bill is automatically paid from those funds. If you pay your bill on a monthly basis, your rewards are a bit less: The highest payout is 7x.
And finally, Brex can claim a first in the business credit card space: You can redeem your rewards in cryptocurrency. The company recently announced that cardholders can enjoy redemption conversions in Bitcoin and Ethereum, which sets it apart from every other business credit card offer you’ll find right now. If you’re looking to dabble in crypto (and you aren’t afraid of Elon Musk’s Twitter account impacting the value of your points), this is a low-risk way to do it.
Read more: Any good business credit card will have these 5 benefits — from a high sign-up bonus to purchase protection
Bottom line: The no-annual-fee Brex Card doesn’t require a credit check or personal guarantee to get approved, and it offers generous rewards — including 50,000 signup bonus points after spending $9,000+ in the first 30 days — for business owners who are willing to make it their exclusive credit card.
We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.
Comparison: Brex Cards paid monthly and daily
Brex credit cards come in two flavors: one geared toward smaller companies and another geared toward companies that meet certain size and revenue requirements. Here’s a rundown of how they stack up and which one might be a fit for your company:
For smaller companies, the credit limit based on your cash seems like a strong guardrail for ensuring smart financial management. It’s important to note, though, that Brex’s operating model means that if your cash flow looks iffy, the company might reduce your credit limit to $0.
Read more: Who can qualify for a small-business credit card?
It seems that the company aims to have customers have a balance of at least $25,000 to feel confident enough to extend them credit, too, so this isn’t for small sole proprietors who simply identify as self-employed. As long as your company is big enough, Brex can be a great card for your wallet. The company’s lack of an annual fee and any interest charges add up to feeling confident that you won’t be racking up additional expenses.
Comparison: Brex Card vs other small-business credit cards
*5% cash back and 2% cash back on the Ink Business Cash® Credit Card on up to $25,000 in combined purchases each year, then 1% cash back.
How to use points from the Brex Card
You can redeem Brex Card points for cash, gift cards, or statement credits with Brex. Like many other credit card programs, you can also enjoy a 1:1 transfer ratio at a range of airlines including:
- Air France-KLM
- Asia Miles (Cathay Pacific)
- Singapore Airlines
The Brex crypto redemption feature is perhaps the biggest headline of its rewards offering. If you’re completely new to Bitcoin and Ethereum, the company has a fairly comprehensive outline of how to get started and how to turn some of your points into these digital currencies. You can pick and choose your payouts, too, such as using some points for crypto, some for cash, and some for airline miles.
Brex Card benefits and features
The Brex Card comes with all the standard World Elite Mastercard benefits and protections.
Cell phone protection
If you’re paying for cell phone insurance on your mobile device, you can skip that bill. This coverage is $1,000 in annual protection with a maximum payout of $800 per claim and two claims per year.
Read more: The best credit cards with cell phone protection
Luxury hotel benefits
The Mastercard World Elite luxury hotel and resorts portfolio includes over 3,000 properties, and your Brex card will make staying there feel more elite with complimentary breakfast for two, room upgrades, and a lowest hotel rate guarantee.
Read more: Hotel programs from Amex, Chase, and more can get you freebies like room upgrades and on-property credits — here’s how
If you want to feel really elite, the World Elite Mastercard also comes with access to the Mastercard concierge who can help you book private jet service and private car services at exclusive discounts.
ID Theft and Zero Liability Protection
The World Elite Mastercard comes with the kind of top-tier identity and fraud protection you would expect from a premium credit card. Basically, you won’t have to worry if anyone else gets ahold of your card, and you’ll also have a monitoring service for any suspicious activity around your identification.
In addition to those benefits, Brex has a range of partner deals that can make a difference for your business’ operations and your bottom line, including:
- $5,000 credit and up to $100,000 on AWS Activate — Amazon Web Services’ program for startup growth
- 40% off your first year of QuickBooks to help manage your finances
- 50% off on UPS shipping services
- 50% off the first year of Gusto, a payroll and HR benefits platform
- 25% off a year of Slack paid plans
- $150 of Google Ads credits
- Up to 25% off business insurance through Vouch
- $10,000 credits on Freshworks products
Brex says that all those additional perks add up to north of $150,000, which is an impressive figure. However, you should take a complete inventory to see which services would work for your company.
50,000 signup bonus points after spending $9,000+ in the first 30 days
Brex Card fees and costs
With so much to share about the potential value that Brex can deliver for small-business owners, there is one area where the isn’t much to say: the fees and costs add up to zero.
Read more: The best no-annual-fee credit cards of 2021
There is no annual fee, and there is no interest charged on the Brex Card. Instead, Brex indicates they make money via small fees from merchants instead of cardholders.
David McMillin has written about credit cards, mortgages, banking, taxes, and travel for the past 10 years. His goal is simple: help readers figure out how to minimize fees and maximize rewards.