r/CreditCards

u/Panic_Attacc    

Are the Brex cards any good?    

https://www.brex.money/product/corporate-credit-card/tech/ 7X or 8X on ridesharing + $15 per month MasterCard promo on Lyft. Is the interchange fee for these mastercards really that high? Where is the money coming from? Edit: Looked at the interchange fees in another thread. Card's a world elite. >Core Value: 1.48% + $0.10 per transaction >Enhanced Value: 1.48% + $0.10 per transaction >World: 1.58% + $0.10 per transaction >World High Value: 1.90% + $0.10 per transaction >World Elite:1.90% + $0.10 per transaction Edit2: Got approved. Here's the points structure I got with a daily payments card. You're in the Small business rewards program: 8x on Rideshare 5x on Brex travel 4x on Restaurants 1.5x on Advertising 1x on Everything else    

  👍: 13

  u/[deleted]

It seems like this card is too good to be true, no fees, great cash back categories, ability to transfer to airlines. It may be that this is intentionally running at a loss to get customers and then they’ll adjust the benefits later to get a profit. Or there’s another catch I’m not seeing.

  👍: 9

  u/SoundClouder

These are corporate cards are targeted at startups/businesses. You need something like $500k in your company's bank to get a Brex card. They'll make the $ back on all the other business expenses you use the card for

  👍: 7

  u/planesurf

They're solid, but very hard to get approved for.

  👍: 4

  u/Eyetron2020

For many "real" businesses, the vast majority of card expenses will fall into the 1x category. That 8x category is so limited I doubt it makes much of a dent for most businesses.

  👍: 5

  u/Yankees2424

Can you post source for interchange amounts?

  👍: 3

  u/Late_Description3001

I’m not a fan of all of these one off cards. If you’re really interested in Lyft get the CSR includes Lyft pink and 10% back on Lyft. If you use Lyft consistently and can use the other credits it’ll be a solid card.

  👍: 3

  u/Ok-Nefariousness-703

We have their cards for two businesses, HOWEVER recently we had fraud committed on our card. 500 transactions over a period of two days for $29.95. Their fraud detection did not catch it and they said it's because the amounts were too small--which is absurd. Additionally, they do not credit the fraud back to you immediately like any other reputable card and they say you have to wait 90 days for their investigation to get it credited. I would not recommend.

  👍: 1

   r/CreditCards

u/Panic_Attacc    

Got my Brex card, pretty cool looking    

[Posted about this card last week](https://reddit.com/r/CreditCards/comments/jv4c5y/are_the_brex_cards_any_good/) https://www.brex.money/product/corporate-credit-card/tech/ There's basically no pictures of this card on the internet so I'll post mine for anyone doing research. On the front of the card, the stuff left of the gold trim is matte. The stuff right of the trim is glossy. The entire back of the card is matte. Unfortunately I don't think this card has much metal if any. I've also heard of a gold-colored one made of metal but I don't think I was high class enough to get one. [https://imgur.com/a/kEVco5c](https://imgur.com/a/kEVco5c) Edit: Card weighs about 4.9 grams. First red square on the bottom has your name and business name. Rectangle contains the card number in really tiny print. Edit2: u/Davidram24 asked me about signing up for it. They are super unclear about the joining requirements which is really unfortunate. Maybe they do it deliberately while they're building up their products. A company I worked with referred me to them and I think it helped. I actually had their $50k/$100k cash requirement for the startup tier but they didn't have that information yet, they decided to start me off in the small business tier. Pretty straightforward, just filled out some forms about my business. Filling out the forms and doing some additional verification only took about an hour. After I was done I could technically start using the checking in Brex Cash and our virtual cards. But I had to wait to wire balance before I could do anything productive. Still, I think it's amazing turnaround time compared to conventional banks. There's an option to whitelist-only mode ACH debits which our conventional bank never offered. Here's most of their tiers explained as far as I can tell. **Brex Daily/Brex 1/Brex Cash + Brex Card/small business tier:** This is something small businesses can easily get. You just need to be a legit business with revenue and preferably have a company that uses the card vouch for you. I'm in this category. You get a small business rewards category that's slightly different compared to the tech category. Instead of 3x on recurring software you get 1.5x on advertising. Your card's balance is automatically paid off daily from your Brex Cash account. Paying daily gets you better points multipliers. The card limit is 80% of your Brex Cash USD balance. **Brex 30/60 Startup Tier:** You need $50k/$100k in a bank account and get underwritten variable credit limits depending on your finances. Your card must be paid off in 30 or 60 days, or you can choose to pay off daily for better points multipliers. The rewards category is tech or life science. **Ecommerce tier:** You need $50k revenue per month. Maybe this is a tier they scrapped idk. **Corporate tier:** I think this is the tier with the gold colored metal card. **Brex Cash:** Don't think you can get this as a standalone product, every tier seems to have it. They give you a business checking account with Radius Bank (FDIC insured) that has pretty fast ACH transfers, free wires domestically/internationally, and some fee waivers. You can choose to use this to autopay your cards daily if you have to or choose to. There's no foreign transaction fees anywhere as far as I can tell. Note that the cards you get are actually credit cards set up like a charge card, they're not directly connected to the bank account. [Various MasterCard World Elite benefits](https://support.brex.money/world-elite-mastercard-benefits-for-brex/) You can choose to allocate percentages of your balance in a money market fund called [Dreyfus Government Cash Management](https://im.bnymellon.com/us/en/cash-management/funds/262006406) (DAGXX). They seem to have fee waivers. The recent yield and the one Brex reports is 0.1% (low due to the economy, used to be over 1%). You'd actually lose money to fees if Brex didn't have a fee waiver, so I assume they do. Points are exactly 1 cent when exchanged for cash back and it's super easy to do. Edit3: I found a small downside to the card that isn't mentioned anywhere. There's no contactless payments! The EMVCo logo isn't on the card and none of our cards reacted to NFC readers when we tried to verify this. Emigrant Bank, might want to consider including this feature!    

  👍: 62

  u/olemiss18

Not gonna lie, I totally thought you cut that card in half.

  👍: 53

  u/letsplaysomegolf

Can you post a pic of the back too? I’d like to see what your credit card number, exp. date and cvv look like.

  👍: 9

  u/flipthescriptttt

I love the new MasterCard logos.

  👍: 7

  u/Davidram24

I got an offer for my business for Brex card since I’m a new business but I saw you need like 100,000 in revenue to get approved which I don’t have. How did you get approved?

  👍: 6

  u/[deleted]

What’s a Brex card?

  👍: 4

  u/Sweetnessoverload98

Congrats!!

  👍: 3

  u/[deleted]

Was this hard to get? I remember the post about it last week and it seemed to be targeted for businesses, but I know it's not that hard to get the business cards from Chase and AmEx.

  👍: 2

  u/planesurf

AWESOME! How was the approval process? Do you have any of the numbers you put on the app?

  👍: 1

  u/ConsistentStandard67

I just got this card in the mail yesterday and now that I am reading about it, the vision I have in my head is of a couple of rich guys with names like Riley or Blake who wear skinny jeans to work sitting in a high rise somewhere still laughing at my application which, has obviously been sent around the office in an email chain because jokes like that are too good not to share. 😂 I have absolutely no clue how I was approved. I'm just starting a very small 3D laser printing business from scratch that I certainly hope will be much bigger someday, as I have gone into debt purchasing equipment and inventory. No one referred me to this card, and clearly I knew nothing about it when I applied. I just needed a bank account for business and it popped up in the search. It took around a week to get the approval notice and from there, I had a virtual card instantly and the physical card in around 3 days... Here's the best part.. As of now I'm literally sitting on around $700.00 in liquid assets. I wish I was kidding. 😂😂 I'm probably just going to frame this deal and put it on the wall somewhere because it looks swanky enough to give my potential customers a false sense of security in the financial stability of my business (and it gives me a false sense of being special), but I would be too embarrassed to actually deposit any money into the account and ever use it. 😂😂😂

  👍: 1

  u/lazyusain

What about a sole proprietor with a dba do you think they’ll take that as a legit business for the small business tier

  👍: 1

  u/Ok-Nefariousness-703

We have their cards for two businesses, HOWEVER recently we had fraud committed on our card. 500 transactions over a period of two days for $29.95. Their fraud detection did not catch it and they said it's because the amounts were too small--which is absurd. Additionally, they do not credit the fraud back to you immediately like any other reputable card and they say you have to wait 90 days for their investigation to get it credited. I would not recommend.

  👍: 1