Brex Review: Corporate Cards, Banking, and Rewards for Startups
Brex built its reputation as the corporate card for startups. No personal guarantee, credit limits based on cash balance instead of credit score, and a rewards program designed for tech companies. Trusted by one in three venture-backed startups in the US, Brex has become synonymous with startup finance.
But Brex isn’t for everyone. Recent strategic shifts narrowed their focus to venture-backed startups and mid-market companies, dropping small businesses. This review covers what Brex offers, who qualifies, and whether it’s the right choice for your company.
What Is Brex?
Brex is a financial platform combining corporate cards, expense management, business banking, and travel booking. Founded in 2017 by two Brazilian founders who previously built a payments company, Brex reached unicorn status by 2018 and has raised over $1 billion.
Core Products:
- Brex Corporate Cards: Physical and virtual cards with no personal guarantee
- Brex Business Account: Banking with checking, treasury, and expanded FDIC insurance
- Brex Empower: Expense management and spend controls
- Brex Travel: Corporate travel booking with integrated policies
Unlike traditional corporate cards, Brex evaluates companies based on cash balance and business fundamentals rather than personal credit scores. This model serves funded startups well—companies with capital but limited credit history.
Brex Eligibility Requirements
Brex has specific requirements that exclude many small businesses:
Must Have:
- US-based business entity (C-Corp, S-Corp, LLC, or LLP)
- Employer Identification Number (EIN)
- At least $50,000 in a business bank account
- Formal business structure (no sole proprietors)
Target Customers:
- Venture-backed startups (Seed through Series D)
- Mid-market companies
- E-commerce businesses with strong revenue
Not Eligible:
- Sole proprietors
- Traditional small businesses without funding
- Companies with less than $50,000 cash
Brex explicitly pivoted away from small and mid-sized businesses in 2022, focusing resources on their core startup and enterprise markets. If you’re a bootstrapped small business, consider alternatives like Ramp.
Brex Corporate Cards
Key Features
No Personal Guarantee: Qualified businesses don’t put founders’ personal assets at risk. Credit decisions are based entirely on business financials.
Higher Credit Limits: Brex offers limits typically 10-20x higher than traditional cards. Limits are based on your cash balance and revenue, not personal credit scores.
Unlimited Cards: Issue as many physical and virtual cards as needed. Virtual cards are instant—useful for subscriptions and one-time purchases.
Spending Controls: Set limits by card, employee, category, or vendor. Restrict spending to specific merchants or categories.
Credit Limit Determination
Brex evaluates:
- Cash balance in connected bank accounts
- Monthly revenue and burn rate
- Funding status and runway
- Business fundamentals
Early-stage companies often receive lower limits initially. As you build transaction history and maintain cash balances, limits increase. Maintaining at least $25,000 cash is generally required to keep any credit limit.
Brex Business Account (Banking)
Brex offers integrated banking through their business account (formerly called Brex Cash):
Account Types
Business Checking: Standard checking provided by Column N.A., member FDIC. Standard $250,000 FDIC insurance.
Treasury Account: Invested in money market funds (Dreyfus Government Cash Management). Earns current yield (~4%+) with SIPC insurance up to $500,000.
Brex Vault: Expanded FDIC coverage up to $6 million through partner bank network. Funds are swept across multiple banks for maximum protection.
Banking Features
- No monthly fees: No maintenance, overdraft, or wire fees
- Unlimited transactions: No caps on ACH, wires, or checks
- Same-day ACH: Move money quickly without extra cost
- Global payments: Wire transfers in 40+ currencies
- Integrated invoicing: Send branded invoices directly from Brex
Banking Limitations
- No cash access: Cannot deposit or withdraw physical cash
- Digital-first: Designed for online businesses, not retail
- No physical branches: Entirely digital platform
If your business handles cash regularly, Brex isn’t suitable as a primary bank.
Brex Rewards Program
Brex’s rewards program is one of its strongest features—particularly for travel-heavy teams.
Earning Rates
| Category | Points per Dollar |
|---|---|
| Rideshare (Uber, Lyft) | 7x |
| Travel (via Brex Travel) | 4x |
| Restaurants | 3x |
| Recurring software | 2x |
| Everything else | 1x |
No caps on bonus rewards. Unlike traditional business cards that cap rewards at $150,000 annually, Brex has no limits.
Exclusivity Requirement
To earn the full rewards rates above, Brex must be your exclusive corporate card. If you use multiple corporate cards, you earn only 1x on all purchases.
This is a significant consideration. The rewards advantage disappears if you’re splitting spend across cards.
Welcome Bonus
10,000 points when you spend $3,000 on Brex within your first three months.
Redemption Options
| Redemption | Value per Point |
|---|---|
| Travel via Brex Travel | Best value (varies) |
| Statement credit | $0.007 |
| Gift cards | $0.007 |
| Airline/hotel transfers | $0.01 |
| Crypto (Bitcoin, Ethereum) | $0.007 |
| Charity donations | Varies |
Travel redemptions through Brex typically offer the best value. Statement credits are straightforward but lower value.
Rewards Math
For a startup spending $50,000/month:
- $5,000 travel (4x): 20,000 points
- $3,000 restaurants (3x): 9,000 points
- $10,000 software (2x): 20,000 points
- $32,000 other (1x): 32,000 points
- Monthly total: 81,000 points
At $0.007/point for statement credit: $567/month or $6,804/year
Compare to Ramp’s flat 1.5% cashback on same spend: $750/month or $9,000/year
Brex wins if you redeem for travel. Ramp wins on simplicity and cash-back focused companies.
Brex Expense Management (Empower)
Beyond cards, Brex includes expense management:
Features
- Receipt matching: AI matches receipts to transactions
- Approval workflows: Route expenses for approval based on rules
- Policy enforcement: Automatically flag out-of-policy spending
- Reimbursements: Process employee expense reimbursements
- Accounting integration: Sync with QuickBooks, Xero, NetSuite
- Real-time tracking: See spending as it happens
Compared to Ramp
Brex expense management is solid but generally considered less automated than Ramp. Ramp focuses heavily on expense automation and cost savings; Brex focuses more on rewards and travel. Both work—priorities differ.
Brex Travel
Brex includes corporate travel booking:
Features
- Flight and hotel booking: Search and book within Brex
- Travel policies: Set rules for booking classes, budgets
- Expense integration: Travel charges automatically categorized
- Group travel: Manage team travel in one place
Travel Rewards Synergy
Booking through Brex Travel earns 4x points—the highest category for most companies. If your team travels frequently, this integration adds significant value.
Brex Pricing
Essentials (Free)
- Corporate cards (unlimited)
- Basic expense management
- Bill pay
- Brex business account
- Travel booking
- Rewards program
- Accounting integrations
- Spend controls
No setup fees. No monthly fees. Genuinely free for core features.
Premium ($12/user/month)
Everything in Essentials plus:
- Advanced approval workflows
- Customizable expense policies
- Compliance audit detection
- Multi-entity support
- Dynamic spend limits
- Advanced integrations (ERP, HRIS)
- Group travel management
- Priority support
Premium pricing is $12/user with annual billing, $15/user monthly.
Enterprise (Custom)
Everything in Premium plus:
- Unlimited entities (US and global)
- Offline booking support
- Dedicated account management
- Custom implementation
- SLA guarantees
Contact sales for Enterprise pricing.
Which Tier?
Most startups operate comfortably on Essentials until they need advanced approval workflows or multi-entity support. Premium makes sense as you scale and compliance requirements increase.
Brex Pros and Cons
Pros
No personal guarantee: Founders’ personal assets protected for qualified businesses.
Higher credit limits: Cash-based underwriting provides limits 10-20x traditional cards.
Strong rewards program: Up to 7x on rideshare, 4x on travel. No caps.
Integrated banking: Business account with up to $6M FDIC coverage and yield on treasury.
Startup ecosystem: Trusted by 1 in 3 venture-backed startups. Perks with AWS, Google Cloud, etc.
International support: Global cards, multi-currency payments.
Free tier: Core features genuinely free.
Cons
Eligibility restrictions: Requires funding or strong revenue. No sole proprietors. $50K cash minimum.
Exclusivity for best rewards: Must be your only corporate card for category multipliers.
Dropped small businesses: Strategic pivot excluded many customers.
Less expense automation focus: Ramp generally superior for pure expense management.
Credit limits vary: Early-stage companies may receive lower limits.
No cash access: Digital-only banking—no cash deposits or withdrawals.
Brex vs Ramp
The most common comparison for startup corporate cards:
| Feature | Brex | Ramp |
|---|---|---|
| Rewards | Points (1-7x) | 1.5% cashback |
| Best rewards category | Rideshare (7x) | All categories equal |
| Banking | Included | Not included |
| Expense automation | Good | Excellent |
| Cost focus | Rewards | Spend reduction |
| Free tier | Yes | Yes |
| Eligibility | VC-backed or $400K+ revenue | Broader |
| International | Yes | No |
Choose Brex if: You’re venture-backed, travel frequently, want integrated banking, and will use Brex exclusively to maximize rewards.
Choose Ramp if: You prioritize cost savings, want simpler cashback, value expense automation, or don’t qualify for Brex.
Brex vs Traditional Corporate Cards (Amex)
| Feature | Brex | Amex Business Gold |
|---|---|---|
| Personal guarantee | No | Yes |
| Expense software | Included | Separate cost |
| Annual fee | $0 | $375 |
| Rewards | Points (variable) | Points (variable) |
| Credit basis | Cash balance | Personal credit |
| Startup focus | Yes | No |
Brex advantages are clear for startups: no personal guarantee, no annual fee, expense management included. Traditional cards require founders to personally guarantee debt.
Who Should Use Brex
Ideal For
- Venture-backed startups: Brex’s core market. Credit limits based on funding.
- Travel-heavy teams: 4-7x rewards on travel categories add up.
- Companies wanting integrated banking: Business account included.
- Startups needing higher limits: Cash-based underwriting provides larger lines.
- International operations: Global cards and multi-currency support.
Not Ideal For
- Bootstrapped small businesses: May not qualify; better options exist.
- Cost-focused companies: Ramp’s expense focus provides better savings.
- Companies using multiple cards: Exclusivity requirement limits rewards.
- Cash-heavy businesses: No physical cash deposit capability.
- Sole proprietors: Not eligible.
Getting Started with Brex
Application Process
- Apply online: Basic business information, EIN, ownership details
- Connect bank accounts: Brex verifies cash balance via Plaid
- Business evaluation: Funding, revenue, and fundamentals reviewed
- Approval: Often same-day for qualified businesses
- Set up banking: Open Brex business account
- Receive cards: Virtual cards immediately; physical cards ship in 5-7 days
First Month Setup
Week 1:
- Connect accounting software (QuickBooks, Xero)
- Set up basic spend controls
- Issue cards to team members
Week 2:
- Configure approval workflows
- Create expense categories
- Test submission and approval flow
Week 3-4:
- Review first batch of expenses
- Adjust policies as needed
- Explore Brex Travel for upcoming trips
Common Questions
What credit limit will I receive?
Depends on your cash balance and business fundamentals. Funded startups typically receive limits of $50,000-$500,000+. Limits increase as you build history and maintain cash.
Can I use Brex with other corporate cards?
Yes, but you’ll only earn 1x on all purchases instead of category multipliers. For full rewards, Brex must be your exclusive corporate card.
Does Brex report to personal credit?
No. Brex doesn’t require personal credit checks and doesn’t report to personal credit bureaus. Your credit limit is based entirely on business financials.
What happens if our cash balance drops?
Brex may reduce your credit limit. Maintaining at least $25,000 is generally required to keep any credit limit active.
Is Brex Cash FDIC insured?
Yes. Standard checking has $250,000 FDIC insurance. Brex Vault expands coverage up to $6 million through partner banks.
Verdict: Is Brex Worth It?
For venture-backed startups with travel expenses, Brex delivers significant value. The combination of no personal guarantee, higher credit limits, integrated banking, and travel-focused rewards creates a compelling package that traditional cards can’t match.
The bottom line:
- Worth it if: You’re venture-backed, travel frequently, want integrated banking, and will use Brex exclusively
- Consider alternatives if: You’re bootstrapped, focused on cost savings over rewards, or need simpler cashback
The exclusivity requirement is the key decision point. If you’ll commit to Brex as your only corporate card, the rewards are strong. If you want flexibility to use multiple cards, Ramp’s flat cashback may be better.
For funded startups building toward scale, Brex remains one of the best options in the market.
Related Articles
- Ramp vs Brex vs Expensify: Best Corporate Cards for Startups
- Ramp Review: Corporate Card and Spend Management
- Solopreneur Financial Platforms Comparison
Pricing, rewards, and eligibility requirements verified January 2025. Brex offerings change—verify current terms on their website before applying.