If you run an ecommerce business and have a monthly cash flow of $500,000 or more, the Brex Corporate Card for Ecommerce might be a perfect fit for you. This unique card gives you 60 days to pay back purchases, which can ease cash flow strains, and offers fantastic rewards on common business expense categories. Plus, the card doesn’t charge fees or interest.
What we like about the Brex Corporate Card for Ecommerce
- 60-day payoff schedule: Get an extra 30 days to pay off your expenses. The additional time gives online businesses more flexibility with their cash flow schedule.
- No interest: The card is a charge card rather than a credit card, so it doesn’t come with an APR. Rather, after the 60-day time period is up, the payment is automatically withdrawn from your account.
- No personal guarantee: You sign up with the Brex card through your business rather than your personal information.
- High rewards potential: Earn 7x points for rideshare expenses, 4x points on travel booked through Brex, 3x points on restaurant purchases and 2x points on software subscriptions. Plus, receive 1x points on everything else.
- Fast approval: Brex could approve you in just a few minutes and give you access to a virtual card you can use immediately.
- Free employee cards: Up to five employees can receive free cards. After that, each additional card costs $5.
Things to consider
- Charge card vs. credit card: This card isn’t a credit card. Therefore, you must pay your balance off in full by the due date. For anyone looking to maintain a rolling balance, this card may not work well for them.
- Specific reward categories: The rewards rate on this card is fantastic for specific business categories, like rideshare and dining. However, if you don’t spend a lot in the reward categories offered by this card, you might be able to find a better option elsewhere.
Brex Corporate Card for Ecommerce details
With the Brex Corporate Card for Ecommerce, you apply as a business rather than as an individual. Therefore, your personal credit score isn’t impacted, and you don’t have anything on the line if your business loses money or gets charged with fraud. Instead, Brex underwrites you.
You can start building up your business credit by using this card, as well as secure a higher spending limit. Your spending limit is determined by the amount of cash or sales your business brings in. As long as your business makes over $500,000 each month and has been in operation for over a year, you’ll likely be approved.
This card seeks out online businesses with larger cash flows, so the issuer won’t work with sole proprietors or smaller shops. If you qualify, it could be a good option for earning rewards with your regular spending.
This card carries no annual fee, no foreign transaction fees and no late fee. How is this possible? The company charges a small fee to each merchant you swipe your card at. Rather than making you pay to use the card, Brex puts the onus on anyone selling products to you.
Furthermore, it’s a charge card rather than a credit card. Charge cards require you to pay off the full balance at the end of the term rather than charging interest. In this case, you have 60 days from when you make a purchase to pay off the card completely, or Brex will automatically withdraw the money from your account. Even if your credit limit is high, you must be sure you have funds available two months later.
How does it compare to other corporate cards?
If you’re looking for a charge card for your online sales business that won’t charge you fees but offers various perks, the Brex Corporate Card for Ecommerce could be perfect for you. However, if you want a more standard business credit card, there are many other options out there, such as the American Express® Business Gold Card and the Chase Ink Business Unlimited℠ Credit Card.
|Card||Ongoing Purchase APR||Annual Fee||Intro Bonus||Credit Needed||Key features|
|Brex Corporate Card for Ecommerce||N/A||$0||30,000 in Brex Rewards points upon signup and waived card fees for life ($300+ value in the first year)||None||
|American Express® Business Gold Card||14.24% - 22.24% Variable See Rates & Fees||$295 See Rates & Fees||35,000 Membership Rewards® points after you spend $5,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership. Terms Apply.||Excellent||
|Ink Business Unlimited℠ Credit Card||13.24% - 19.24% Variable||$0||$500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening||Excellent||
The bottom line
The Brex Corporate Card for Ecommerce isn’t for everyone, especially since the company is strict about who qualifies for the card. You must earn over $500,000 per month in ecommerce business to get this card. If you do qualify, the excellent rewards and other benefits make this card a must-have for growing your business. The 60-day payoff term and the ability to grow your business credit while not being personally liable are fantastic features. With no fees, applying for this card may be worth your time. However, anyone who doesn’t meet the card’s qualifications or wants a more traditional business credit card will need to look elsewhere.
For rates and fees of the American Express® Business Gold Card, please click here
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