Every day there are more and more credit cards that banks are releasing, with greater benefits, either for personal or commercial use. Today we have one that is exclusively for commercial use, which is the Brex credit card.
This card has become very popular over time due to all its benefits, and today, we have come to tell you a little about it.
How do Brex credit cards work?
Brex is a credit card, so they work the same way as most credit cards and must be paid every 30 days. These cards have many benefits and are intended for use by new businesses.
One of the benefits of the Brex credit card is that the credit limits vary according to the company’s cash flow and do not require a personal guarantee. In addition, there are no annual fees.
On the other hand, they offer multiple rewards to users who only use Brex through discounts on services and products and access to the rewards program called Brex Exclusive.
What benefits can I get when I get a Brex credit card?
Among the benefits of this credit card are the lack of annual fees, no personal guarantee required, no foreign transaction fees, and rewards for exclusive users.
In addition, businesses can qualify for virtual cards and integrated expense reporting.
By acquiring a Brex card, you can enjoy discounts on purchases through Amazon Web service, slack, Apple, UPS, Gusto, Bono, Experian QuickBooks, Google Ads, and Freshworks.
In Amazon Web Services, you can get up to $25,000 credit, and in AWS Activate, that amount increases up to $100,000. In Google Ads, the credits can be up to $150. In the other companies, the discounts are between 25%, 40%, and 50%.
Do I have to have a minimum balance to maintain the credit limit of my Brex credit card?
The answer is yes. Brex requires its customers to have a minimum cash balance of $25,000. This amount is the same for all credit limits. However, this can vary as the company sees fit.
How can I earn rewards when using the Brex credit card?
Points vary depending on the company where the card is used. The maximum number of points that can be earned is 8 points per dollar, which are earned through ridesharing through Uber or Taxis.
Flights and hotels paid through Brex allow earning 5 points per dollar. On the other hand, restaurant purchases would be 4 points per dollar.
Purchases of Apple products and recurring software subscriptions earn 3 points per dollar. On advertisements, 1.5 points per dollar and 1 point per dollar on all other purchases.
It is important to note that users who are not exclusive to Brex can also earn points. However, they will only earn 1 point per dollar on all purchases.
How can I redeem rewards?
There are several ways to redeem points. You can redeem them for cryptocurrencies, transfer them to airlines or Brex travel partners, or the most used by travel lovers, which would be to pay for flights.
For points to be redeemed for travel, flights must be booked through Brex Travel; otherwise, the terms would not apply.
Some Brex Travel partners that apply to transfer scores are Avianca, Singapore Airlines, Air France, Qantas, Aeromexico, Emirates, and Cathay Pacific.
I want to increase my Brex credit card limit. How do I apply?
As mentioned above, the limit is adjusted according to the company’s expense, cash flow, and sales numbers. However, you can increase it by doing the following three options.
Add a new bank account to Brex
One way to increase the funds in your account is to link it to a new bank account. This will bring an increase to your credit limit immediately.
You can add a new account through the app or the Brex dashboard. Through the dashboard, log into your account, click in the top-right corner and select “Settings“.
Choose the “banking connections” section and click “add banking connection”. After that, follow the steps to add a new account.
If you add the account through the application, there is a “$” icon in the bottom corner. Touch it. Once inside, select “Add more funds” and “Add new account”. Proceed to find the bank and enter your account information.
Update your bank account details
This is arguably the quickest and easiest option. You can opt-in regardless of whether you have a banking connection with Brex.
If you have a banking connection, you need to log in again. If you have problems connecting, it may be because you are not in the United States, and in this case, you can try logging in through a VPN.
It may also happen that you are not the account holder; in this case, you cannot link it to your bank account.
If you do not have a banking connection with Brex, you can also opt to send the most recent bank statements. To get a verified, secure link, please go to the support section.
Connect your company’s sales platforms to Brex
This option applies to e-commerce only. Link the platform to Brex and allow read-only access for 30 days. In this way, they will be able to modify the credit limit.
References
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“How Can I Connect an Additional Bank Account to Brex? | Brex.” Brex, https://www.brex.com/support/how-can-i-connect-an-additional-bank-account-to-brex.
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“How Can I Request a Higher Credit Limit? | Brex.” Brex, https://www.brex.com/support/how-can-i-request-a-higher-credit-limit.