Is Brex it? For charging everyday startup expenses, like meals and travel, it just may be.
Brex touts itself as the first corporate credit card for startups. Brex works with corporations and other forms of non-individual liability companies. Brex underwrites on the basis of employer identification numbers (EINs), not social security numbers, so consumers, sole proprietors, and other unregistered businesses are ineligible. There is no personal guarantee required, no personal liability. Credit limits are based on, among other factors, the cash your company has raised and/or equity in your company.
It sounds pretty good, especially since Brex recently raised $100 million in a Series C round and is valued at $2.6 billion. It’s no flash in the pan. Brex’s services have additional benefits such as easy integrations with Quickbooks, Netsuite and Xero. There are no fees for the first four employee cards.
If you’re running a startup or small business, there is no real downside to applying. Whether your application is rejected or approved, your personal credit score will not be affected. If your company has no credit history, a rejected application is meaningless. My advice: Why not give it a try?