Brex Card Review for 2023
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Nancy Fernandez is a Credit Card and Insurance Expert at Fit Small Business, specializing in business credit cards and business insurance.
This article is part of a larger series on Best Small Business Credit Cards.
Brex Card can be used either as a business prepaid card or a charge card. It’s best for startup businesses in the tech and life sciences industries with the ability to pay bills daily or monthly. It doesn’t charge annual fees, although it lacks an interest-free financing scheme. Payments to your card will be deducted directly from your Brex Cash account balance for those who pay daily or from an account of your choice if you pay monthly.
The Brex Card is issued by Emigrant Bank and Fifth Third Bank, NA, and Brex is backed by 10 partner banks, which are Federal Deposit Insurance Corporation (FDIC)-insured.
How We Evaluate Business Prepaid Cards (Brex Card Paid Daily)
When evaluating business prepaid cards, such as the Brex Card, we first consider the features included in their expense management systems, then we look at their fees and rewards. Note that this evaluation covers those who make daily payments.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Features (Expense Management System) | 50 | 60 |
Fees | 20 | 20 |
Rewards | 20 | 20 |
Total Score | 90 | 100 |
How We Evaluate Business Charge Cards (Brex Card Paid Monthly)
When evaluating business charge cards, such as the Brex Card, we first consider the features included in their expense management systems, then we look at their fees and rewards. Note that this evaluation covers those who make monthly payments on the Brex Card.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Introductory Rewards | 15 | 20 |
Ongoing Rewards | 15 | 20 |
Annual Fee | 10 | 10 |
Late Payment Fee | 30 | 30 |
Other Fees | 10 | 10 |
Features | 5 | 10 |
Total Score | 85 | 100 |
Who the Brex Card Is Best For
- Those who want to pay daily or monthly: Those whose budget is laid out on such a basis would want to consider getting the Brex Card as it lets you pay your bills daily or monthly.
- Startup IT and tech or life science businesses: Startup businesses in the tech or life sciences industry will find the card helpful as it offers comprehensive perks for both types (discussed in our rewards section below).
- Those with a Brex Cash Management Account (CMA): If you have an existing CMA, then it’ll be advantageous to manage all of your financial transactions with one provider.
Check out our recommended alternatives below if this card doesn’t fit the bill.
Brex Card Paid Daily vs Monthly
Brex Card is one of the few cards that offer daily or monthly payments. Below, we highlight the differences between paying your daily or monthly in terms of qualifications, credits, limits, rewards, and costs.
Paid Daily | Paid Monthly | |
|---|---|---|
Qualification | Comes with every Brex Cash account | Companies that meet certain size and revenue requirements; requires application |
Limits | 100% of Brex Cash account’s available balance | Qualify for 10x to 20x higher limits than traditional corporate cards |
Rewards | Earn up to 8x rewards points on all card spend | Earn up to 7x rewards points on all card spend |
How Card Is Paid | Paid daily from Brex Cash account balance | Billed monthly and can be paid from any account |
Fees | None | None |
Personal Guarantee | None | None |
Brex Card Fees
This is one of the few business cards that doesn’t have annual percentage rates (APRs) for new and existing business cardholders and fees when you pay your bills at a later time. It should be noted that while Brex and its partner banks don’t charge fees to send or receive international wires, third-party banks may have costs.
Brex Card Rewards
- 10,000 points after spending $3,000 within the first three months
Here are the specific rewards that you can get for daily and monthly payments:
Type of Payment | Specific Rewards |
|---|---|
Paid Daily | Brex Cash Rewards
Tech Rewards
Life Sciences Rewards
|
Paid Monthly | Tech Rewards
Life Sciences Rewards
|
Brex doesn’t put a cap on how many points cardholders can earn—when your business grows, so does your Brex Business Card. This is unlike other card programs that cut off the multipliers after hitting a certain spending limit.
You can redeem your points:
- As a statement credit
- For gift cards
- For flights and hotels booked via Brex Travel
- For miles with a partner, such as Oneworld, SkyTeam, Star Alliance, and Skywards—you’ll need to have an account with one of the partner programs before transferring your points to miles
- For mental health resources, where admins can book six-month packages and one-year access for 15,000 points
Note that the points redemption rate is 1 cent per point ($1 per 100 points).
How To Make Payments on the Brex Card
- Daily: Payment will be made directly from your Brex Cash account balance
- Monthly: Payment will be billed monthly and can be paid with your chosen account
Brex Card Features
Mastercard benefits
- MasterRental insurance: You may be covered for physical damage and theft to a rental vehicle with your Brex Card. You may find more details on filing a claim here.
- Car rental discounts and upgrades: You can save on car rentals, certain flights, cruises, chauffeured cars, private jets, and vacation packages. Contact Mastercard at (855) 802-1387 for more details.
Account protection and discounts
- Protection against fraudulent transactions: Brex allows you to file a dispute for fraudulent transactions through its mobile app, letting you terminate the card automatically. You’ll receive an email regarding your dispute’s status anywhere from one to two business days, though sometimes resolutions take 90 days. Requesting a new card takes anywhere from five to seven business days.
- Software discounts: You can save money on software that can help scale your business faster
- Discount on a TurboTax solution that best fits your small business needs
- 40% off on QuickBooks Online or 50% on QuickBooks Self-Employed for 12 months, plus a 30-day free trial
- Can get Salesforce Essentials to build stronger customer relationships, costs $9.99 per user, per month, for the first year
- First four months free on a one-year Microsoft 365 subscription
- Unlimited free two-day shipping and free return shipping with a complimentary ShopRunner membership ($79 value per year)
- Access to Mastercard Easy Savings® program—which provides rebates on gas, car rentals, hotels, dining, business services, and more
Expense tracking
Aside from offering unlimited virtual cards to your employees, Brex has a powerful expense-tracking system. It tracks expenses, matches receipts automatically, and roots out excess spending.
Brex’s expense management system can be accessed on PC, Apple, and Android devices. The Brex app is rated 4.9 out of 5 on AppStore, and many have noted its smooth interface, nice color scheme, and functional menu. Meanwhile, Brex received 4.6 out of 5 on Play Store, with users having mentioned issues with attaching receipts on transactions and how the features are severely limited on the mobile app compared to its web counterpart.
Pros & Cons of the Brex Card
| PROS | CONS |
|---|---|
| No additional fees. It’s one of the few business cards that doesn’t charge interest rates, annual fees, and late payment fees. | Requires a Brex Cash account. A Brex Card is best if you have an existing Brex Cash account as most transactions made are charged to the account. |
| Sign-up bonus. You can get 10,000 points after spending $3,000 within the first three months | Bonus rewards aren’t as extensive compared to others. While it offers many rewards suitable for tech and life sciences businesses, it isn’t as noteworthy compared to others, such as Chase, Capital One, and American Express. |
| Won’t let you help improve business credit: As a business prepaid card, Brex Card won’t be able to help you bring up your credit scores and qualify for an unsecured business credit card. | |
Brex Card Alternatives
Bento for Business Visa® Debit Card
- Bento for Business Visa® Debit Card is a viable option if you’re in need of a high maximum spend limit
- Lets you send a maximum of $25,000 per day
- Charges fees depending on the number of cards that you need
- Doesn’t offer any rewards for new and existing users
- Is our best business prepaid card and one of our recommended business credit cards without personal guarantee, business credit cards for fair credit, and business credit cards for bad credit
Bank of America® Business Advantage Unlimited Cash Rewards Secured Credit Card
Business Advantage Unlimited Cash Rewards Secured Credit Card
BEST FOR:
Those who cannot qualify for unsecured business credit cards
Intro APR
None
Regular APR
26.49%
Annual Fee
None
Credit Needed
Poor
- Earn unlimited 1.5% cash back on all purchases
Pros
- Doesn’t charge annual and foreign transaction fees
- Lets you earn unlimited rewards
- Can help you build your business credit score
Cons
- Minimum $1,000 security deposit is required
- Has no 0% introductory APR on purchases and balance transfers
- No sign-up bonus
- Overdraft protection: An optional service available to cardholders who have a Bank of America® business checking account. If you opt-in, link your credit card to your checking account (done through Balance Connect®, their overdraft protection service).
- Free access to your business credit score: You can view and monitor your Dun & Bradstreet business credit score free via Business Advantage 360, Bank of America®’s Small Business Online Banking.
- Travel and emergency services: Offers travel benefits, including $100,000 in travel accident insurance. You’ll also have access to additional services, such as auto rental insurance, emergency ticket replacement, lost-luggage assistance, and legal and medical referrals when traveling.
- Cash flow management tools: Bank of America® offers a suite of online services to help you manage your business.
- Zero liability protection: Protects you against unauthorized transactions. You’ll have additional protection for certain purchases against loss, damage, theft, and fire, and you can enjoy extended warranty coverage.
Intro APR
None
Regular APR
26.49%
Annual Fee
None
Credit Needed
Poor
- Earn unlimited 1.5% cash back on all purchases
Pros
- Doesn’t charge annual and foreign transaction fees
- Lets you earn unlimited rewards
- Can help you build your business credit score
Cons
- Minimum $1,000 security deposit is required
- Has no 0% introductory APR on purchases and balance transfers
- No sign-up bonus
- Overdraft protection: An optional service available to cardholders who have a Bank of America® business checking account. If you opt-in, link your credit card to your checking account (done through Balance Connect®, their overdraft protection service).
- Free access to your business credit score: You can view and monitor your Dun & Bradstreet business credit score free via Business Advantage 360, Bank of America®’s Small Business Online Banking.
- Travel and emergency services: Offers travel benefits, including $100,000 in travel accident insurance. You’ll also have access to additional services, such as auto rental insurance, emergency ticket replacement, lost-luggage assistance, and legal and medical referrals when traveling.
- Cash flow management tools: Bank of America® offers a suite of online services to help you manage your business.
- Zero liability protection: Protects you against unauthorized transactions. You’ll have additional protection for certain purchases against loss, damage, theft, and fire, and you can enjoy extended warranty coverage.
- Bank of America® Business Advantage Unlimited Cash Rewards Secured Credit Card is an excellent choice if you want a secured business credit card with rewards
- Lets you earn unlimited 1.5% cash back on all purchases
- Can help you build or improve your business credit
- Requires a security deposit of at least $1,000
- Doesn’t charge annual fees
- Is our leading secured business credit card and one of our best business credit cards for nonprofits
One Card from Capital One®
- One Card from Capital One® is best if you want a corporate charge card that lets you earn rewards
- Lets you unlock market-leading rewards with no maximum limit on the amount of cash back you can earn
- Doesn’t charge annual and foreign transaction fees
- Charges a cardholder fee of $35 per card and a late fee of 1.5% of the past-due amount
- Is one of our best purchasing cards
See our guide on the leading small business credit cards for additional options.
Bottom Line
Brex Card is one of the few cards that can be either a business prepaid card or a business charge card, depending on whether you wish to pay in full daily or monthly. It’s a great card for those in a startup tech or life sciences industry, as it offers rewards that can help jump-start your business. Note, however, that other cards can offer a higher maximum spend limit, a fixed rewards system, and a card that can help improve your business credit score.
