Brex Credit Card Review 2023

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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.

Brex Credit Card Review: Is the Brex Card the Best Credit Card for You?

When you think of the best rewards business 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 packs a generous reward structure, which can be tailored to pay out more based on the type of business you run. For instance, you can earn 7x points on rideshare, 4x on travel booked through the Brex portal, 3x points at restaurants, and more.

There are also plenty of opportunities to redeem your rewards, including cash, statement credits, or transfers to Brex's airline and hotel partners.

However, there are some caveats to be aware of before you apply for the Brex Card. Here's what to know to help you decide if it's the best small business credit card for you.

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.

Brex Credit Card Rewards

Brex Credit Card welcome bonus

If you qualify for the Brex Card - Product Name Only, you can earn a welcome bonus of Brex Card - Intro Bonus. Your points are worth 1 cent each when you redeem for Brex travel bookings, cash back, and gift cards, making this bonus worth $300 to $500 depending on the minimum spending requirement you meet.

You could potentially get much more value from your welcome bonus by transferring your points to Brex's airline partners to book award flights (more on that below).

How to earn points with the Brex Card

Here's a look at a standard rundown of earning potential with the Brex Card - Product Name Only:

• 7 points per dollar on rideshare spending
• 4 points per dollar on travel booked through the Brex portal
• 3 points per dollar at restaurants
• 2 points per dollar on software
• 1 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:

• Aeromexico
• Air France-KLM Flying Blue
• Emirates
• Avianca
• Asia Miles (Cathay Pacific)
• Singapore Airlines
• Qantas

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 allows redemption conversions in Bitcoin and Ethereum, which sets it apart from just about every other business credit card offer you'll find right now. If you're looking to dabble in crypto, this is a low-risk way to do it.

Brex Credit 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 cell phone 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. 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 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. 

Brex Card Annual Fee and Other 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.

How the Brex Credit Card Compares

Compare 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 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.

Brex Credit Card vs other 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.

Brex Credit 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 no annual fee business credit card, you'll have to choose from other issuers like American Express, Chase, Citi, etc.

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 Brex

You 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.

Methodology: How we reviewed the Brex Credit Card

We evaluated the Brex Card - Product Name Only and compared it to similar rewards business cards. We looked at several factors, including:

• Ease of use — Is the card's earning and redemption program easy to navigate? Are there lots of options for using rewards? Is it hard to qualify for the card?
• Rewards earning potential — Are the card's bonus categories broadly useful for business owners, and are any of them capped?
• Benefits — How do the card's benefits, especially for business owners, compare to competing cards?

Here's Insider's guide to how we rate credit cards for a closer look at our methodology.