What are the requirements for a Brex business credit card?

To be eligible for the Brex corporate card, businesses must fulfill certain requirements. 

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In this article, you’ll find information about the required qualifications, the chances of being approved, if Brex conducts a credit check, and the different payment methods for the card. 

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By understanding these details, you can determine if the Brex business credit card is the right choice for your business needs.

What are the requirements for a Brex business credit card?

Business registration and legal status

To apply for a Brex business credit card, your company must be legally registered in the United States. This includes having a valid Employer Identification Number (EIN) and being incorporated as a corporation, limited liability company (LLC), partnership, or sole proprietorship.

Financial history and creditworthiness

Brex evaluates the financial health of your business rather than relying solely on your personal credit score. This includes reviewing your business’s bank statements, financial records, and overall financial stability. Businesses with strong revenue and cash flow are more likely to be approved.

Minimum bank balance

One of the requirements for a Brex business credit card is maintaining a minimum bank balance. Brex typically looks for a certain amount of cash reserves in your business bank account. While the exact amount can vary, businesses with a higher cash balance have better approval odds.

Industry type

Brex prefers businesses in certain industries that align with their risk assessment criteria. Companies in technology, e-commerce, and other growth-oriented sectors are generally favored. Traditional brick-and-mortar businesses or those in high-risk industries might face more scrutiny.

No personal guarantee

Brex does not require a personal guarantee. This means that the business owner’s personal assets are not at risk in case of default, providing a separation between personal and business finances.

Use of business bank account

Brex requires applicants to connect their business bank account to their platform for financial analysis. This connection allows Brex to continuously monitor your business’s financial health, which can impact your credit limit and overall account status.

What are the odds of being approved for a Brex business credit card?

The odds of being approved for a Brex business credit card largely depend on the financial health and stability of your business. Companies with strong revenue, significant cash reserves, and a healthy financial history have higher chances of approval. Brex’s focus on business performance rather than personal credit scores means that startups and rapidly growing companies can also have good approval odds, provided they meet the financial criteria set by Brex.

Does Brex perform a hard pull for a business credit card?

Brex does not perform a hard pull on your personal credit when you apply for a business credit card. Instead, they evaluate the financial health of your business by analyzing your business bank account and financial records. This approach ensures that your personal credit score is not affected by the application process.

Can you pay Brex with a credit card?

Currently, Brex does not allow payments to be made with another credit card. Payments must be made directly from your business bank account. This policy helps maintain the financial integrity and cash flow management that Brex emphasizes for its clients.

Get a Ramp Corporate Card with no credit check or personal guarantee

If you're looking for a business credit card that doesn’t require a personal credit check or personal guarantee, consider the Ramp Corporate Card. 

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Ramp offers a corporate card designed to simplify expense management and streamline financial operations for businesses.

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Like Brex, Ramp focuses on your business’s financial health rather than your personal credit, making it an alternative for companies looking to avoid personal liability.

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Disclaimer: The information provided in this article has not been officially confirmed by Brex and is subject to change.