Brex Cash is a cash management account that functions like a business checking account (but isn’t a bank account). The account comes with a linked credit card. The credit card works like a debit card: you can only spend up to the amount you have available in your cash account (actually, with the Brex card, your credit limit is only 80% of your available cash). Brex Cash comes with a huge welcome bonus (with transferrable points!); it’s completely fee-free; there is no hard credit inquiry involved; and signing up will not add to your 5/24 count. The only catch is that you must own a business that is registered in the United States as a C-corp, S-corp, LLC, or LLP.
Sorry, this offer isn’t currently available.
This welcome bonus offers the following:
- 75,000 point bonus for signing up through the link above and spending $1,000 on your new Brex card
- 10,000 additional points after spending $3,000 on your Brex Card in the first 3 months
- 20,000 bonus points when you deposit sales revenue or link payroll to your Brex Cash account. You can accomplish this simply by adding your Brex account to your PayPal wallet. See this post for details: How I earned 20K for depositing sales revenue.
Details about the 20K bonus:
From Brex’s website:
Deposit sales revenue or run payroll with Brex Cash to earn 20,000 points.
Payroll providers: ADP, Deel, Extensis, Gusto, Insperity, Intuit Payroll, Justworks, Paychex, Paylocity, Rippling, Sure Payroll, TriNet, WageWorks, Workday, Your People.
Ecommerce platforms or payment gateways: Amazon, BigCommerce, Braintree, PayPal, Shopify, Square, Stripe, Venmo, Wix, Xoom.
Brex reserves the right to modify the list of eligible platforms at any time.
It’s possible to earn the 20K bonus simply by adding your Brex account to your PayPal wallet. See this post for details: How I earned 20K for depositing sales revenue.
Brex Card Details
The Brex card has the following features:
- World Elite Mastercard
- No annual fee
- No foreign transaction fee
- Credit limit: 80% of your available Brex Cash balance.
Brex Card Earnings
For a fee free card, Brex offers impressive earning power for spend. Unfortunately, they confusingly offer different earning rates depending upon the path you took to sign up for the card. By signing up with the above link, the card that comes with your Brex Cash account offers the following earning rates:
- 8x on Rideshare
- 5x on Brex travel
- 4x on Restaurants
- 3x on recurring software like Salesforce, Zendesk, Twilio, and more
- 3x on eligible Apple products like Mac and iPhone, via the Brex portal
- 1x on Everything else
Earning 8x for things like Uber (probably including Uber Eats), taxis, scooters, etc. is pretty incredible. Similarly, earning 4X transferable points for dining with a fee-free card is amazing.
Brex Card Benefits
As a World Elite Mastercard, the Brex card offers the following benefits:
- MasterRental Insurance (rental car insurance)
- Mastercard ID Theft Protection
- Cellular Wireless Telephone Protection (you must pay your cell phone bill each month with the Brex card to qualify)
- Free ShopRunner membership
- Mastercard Easy Savings
- Mastercard Luxury Hotel Program
Details about the above card benefits can be found here.
Point Value and Transfer Partners
Points can be redeemed for 1 cent each or, better yet, can be transferred 1 to 1 to a number of airline transfer partners:
- Aeromexico Club Premier
- Air France/KLM Flying Blue
- Avianca Lifemiles
- Cathay Pacific Asia Miles
- Emirates Skywards
- JetBlue TrueBlue
- Qantas Frequent Flyer
- Singapore Airlines KrisFlyer
The most valuable of the above transfer partners, in my opinion, are Avianca and Cathay Pacific. Avianca is an excellent option for booking Star Alliance awards since they do not pass along fuel surcharges. Cathay Pacific is good for booking flights on Cathay Pacific itself or OneWorld partners (like AA, JAL, Qantas, Qatar, etc.). Air France is also useful for booking SkyTeam awards (Delta, for example) and select partners (such as Virgin Atlantic), but the best use is probably to fly Air France or KLM when they offer useful Promo Awards (discounted awards).
- Is the Brex card a debit card? No, but it acts a lot like one. Your credit limit is determined by the amount of cash in your Brex Cash account.
- Is the Brex Cash account FDIC Insured? Yes, Brex Cash offers FDIC insurance up to $250,000 through Brex Cash program banks.
- Is my application approval contingent upon business revenue or years in business? No. Brex is designed to support startups. Simply provide your business name, address, corporation type, and EIN during the application process.
- Why does my Brex account show “Track your progress towards 30,000 bonus points.” Shouldn’t it say “105,000 bonus points”? The website shows the components of the offer that are available to everyone, but doesn’t show the 75K portion that is specific to those who apply through our link.
- When will this offer expire? I have no idea.
- Will I be taxed on the signup bonus? Will Brex issue a 1099? I don’t know for sure, but my guess is that Brex will not issue 1099s because this bonus is more like a credit card signup bonus (a rebate on spend) rather than a bank account bonus. In my opinion, the only part that ought to be taxed is the 20K bonus for depositing sales revenue or linking payroll.
If you own a business that is registered as a C-corp, S-corp, LLC, or LLP, I can’t think of any reason not to sign up for an account. It offers a fantastic signup bonus plus very good earnings for spend. And there is no hard inquiry or count against 5/24!