Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.
The no-annual-fee Brex Card is lauded as an extremely user-friendly bank for startup companies. The definition of “startup,” however, isn’t nearly as lenient as you’ll find with other banks, such as Chase and American Express. Sole proprietors aren’t eligible for the card — nor are small and medium businesses, for that matter.
If you do qualify, however, Brex offers generous rewards and valuable airline transfer partners such as Avianca, Singapore Airlines, Emirates, and more.
Review: Is the Brex Card the best credit card for you?
Let’s get the most important bit out of the way first: Brex does not entertain the application of any businesses but the following:
Venture-backed startups: Professionally funded, non-traditionally funded, and pre-funded companies. If you’re the company’s startup founder or final financial decision maker, you are a good fit for this card.Mid-market company: Professionally invested companies of at least 20 employees — or companies that are not invested with at least 50 employees. If you’re a CFO, financial leader, or decision-maker of a large company like this, you are a good fit for this card.
That precludes the vast majority from qualifying for a Brex Card. If you do qualify, however, there are plenty of reasons why you might want to give it a shot.
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.
How to earn points with the Brex Card
When you think of the most rewarding business credit cards, you might assume that you’ll need to shell out a sizable fee each year for the ability to rack up bonus points. The Brex Card, however, proves that assumption incorrect.
The Brex Card doesn’t charge an annual fee. And new cardholders can earn Brex Card.
The Brex Card still packs a generous reward structure, which can be tailored to pay out more based on the type of business you run. Here’s a look at a standard rundown of earning potential:
7 points per dollar on rideshare spending4 points per dollar on travel booked through the Brex portal3 points per dollar at restaurants2 points per dollar on software1 point per dollar on all other purchases
Here are a few curveballs that change the above earning rates:
If you’ve got a Brex Cash account and pay your card daily instead of monthly, you’ll earn 8x points on rideshare, 5x points via Brex Travel, 4x points at restaurants, 3x points on eligible Apple purchases, 1.5x points on ads, and 1x points on everything else.If your company identifies as a Tech company, you’ll earn 8x points on rideshare, 5x points via Brex Travel, 4x points at restaurants, 3x points on eligible Apple purchases, 3x points on recurring software, and 1x points on everything else.If your company identifies as life sciences, you’ll earn 8x points on conference tickets, 5x points via Brex Travel, 3x points on eligible Apple purchases, 2x points on lab supplies, and 1x points on everything else.
There’s a big caveat to the rewards structure. Let’s start with the most important piece of the puzzle: You have to use the Brex Card exclusively to get in on all those bonus opportunities. Brex looks at the bank details you provide them and third-party sources to “ensure card exclusivity.” If they find you’re using other cards for your spending, you’ll earn 1 point per dollar on everything. This card is only for business owners who aren’t afraid of a serious commitment and who are willing to break up with their other cards.
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:
AeromexicoAir France-KLMEmiratesAviancaAsia Miles (Cathay Pacific)Singapore AirlinesQantas
Depending on how you use your points, you could easily receive a value greater than 2 cents per point in airfare.
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.
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.
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.
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 growth40% off your first year of QuickBooks to help manage your finances50% off on UPS shipping services50% off the first year of Gusto, a payroll and HR benefits platform25% off a year of Slack paid plans$150 of Google Ads creditsUp 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.
Brex Card fees and costs
With so much to share about the potential value that Brex can deliver for business owners, there is one area where the isn’t much to say: the fees and costs add up to zero.
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.
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:
Brex Credit Card, paid daily
Brex Credit Card, paid monthly
Best for
Companies of any size, no minimum balance
Certain companies that meet size and revenue requirements in an application process
Credit limit
up to 100% of Brex Cash account balance
10x to 20x that of typical corporate cards
Rewards
8x on ride-sharing spending
5x on travel booked through the Brex portal
4x at restaurants
3x on eligible Apple purchases made through the Brex portal
1.5x on advertising
1x on all other purchases
7x on ride-sharing spending
4x on travel booked through the Brex portal
3x at restaurants
3x on eligible Apple purchases made through the Brex portal
2x on recurring software like Salesforce, Zendesk, Twilio, and more
1x on all other purchases
Paying your balance
Daily via your Brex Cash balance
A monthly bill
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.
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 business credit cards
Brex Card
The Blue Business® Plus Credit Card from American Express
Ink Business Cash® Credit Card
Annual fee
$0
The Blue Business® Plus Credit Card from American Express
Ink Business Cash® Credit Card
Rewards rate
Up to:
8x on ride-sharing
5x on travel
4x on restaurants
3x on eligible Apple purchases
1.5x on advertising
1x on everything else
2x Amex Membership Rewards points on first $50,000 per year (then 1 point per dollar)
5% cash back (5x points) at office supply stores and on internet, cable, and phone services*
2% cash back (2x points) at gas stations and restaurants*
1% cash back (1x points) on all other purchases
Welcome bonus offer
Brex Card
The Blue Business® Plus Credit Card from American Express
Ink Business Cash® Credit Card
Card benefits
Secondary car rental insurance
Cell phone protection
Exclusive hotel perks via Mastercard’s Luxury Hotel Program
Discounts on QuickBooks, Gusto, and other software
Extended warranty
Purchase protection
Secondary car rental insurance
Global Assist Hotline
Targeted discounts and bonuses through Amex Offers
Car rental insurance (primary when renting for business purposes)
Extended warranty
Purchase protection
Travel and emergency assistance services
Roadside dispatch
Review
Amex Blue Business Plus card review
Chase Ink Business Cash card review
*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.
Brex Card frequently asked questions (FAQ)
What are the Brex credit card requirements?
Not just any small business can open the Brex Card. You’ll need to be either a venture-backed startup or a mid-market company. In other words, small and midsize businesses don’t qualify. If you’re a sole proprietor looking for a small business credit card, you’ll have to choose from other issuers like American Express, Chase, Citi, etc.
There are some excellent small business cards from these issuers. Read Insider’s guide to the best small business credit cards for all the guidance you need.
Is the Brex credit card worth it?
With no annual fee and high-octane earning rates, this card is absolutely worthwhile on two conditions:
Your business meets the (comparatively stringent) requirements enforced by BrexYou can commit to putting all business expenses on the Brex Card — otherwise, you won’t receive the points multipliers on your spending.
What will my Brex credit card limit be?
By paying your Brex Card daily, your credit limit will be up to 100% of your Brex Cash account balance. Depending on how much you’ve got in your account, this could be significantly higher than other corporate business cards.
If you pay your Brex Card monthly, you’re also guaranteed a high account balance. Brex states that you’ll get up to 20x the average corporate card’s credit line.