Brex first launched a credit card designed for start ups, earlier this year they also launched Brex Cash as a replacement for business bank accounts. Brex is now offering 80,000 points when you sign up for Brex Cash (although you need to use the OMaaT link. Something similar happened with the credit card and TPG). To receive the 80,000 points you just need to be approved and fund your account and then spend $1,000 on the Brex card. You can also get an additional 30,000 points broken down as follows:
- You’ll earn 20,000 bonus points when you link payroll to your Brex Cash account
- You’ll earn an additional 10,000 points after spending $3,000 on your Brex Card in the first 3 months
You can transfer points to travel partners at a 1:1 rate, in addition you can also redeem 100 points for $1 to your Brex Cash account. Existing Brex for Startups (credit card) are not eligible for this sign up bonus unfortunately. You’ll need a real business to be approved, “businesses” will be denied.
DP – Bonus-earning and account-closing data points:
– 2/4/2021 – Account (Card and Cash) opened online
– 8/3/2021 – $1,000+ charged to Brex card
– 8/4/2021 – 80K point bonus deposited into account
– 6/20/2022 – Redeemed 81,570 points for $857.35
– 8/12/2022 – Requested that account be closed (via web)
– 8/14/2022 – Verified closed
Denied with the “Your application did not pass our internal screening process” message after applying with a newly created LLC.
Anyone know if they have a recon line or email address?
🚨 Brex has been ATROCIOUS to deal with 🚨. The waiting game was insane. Then they rejected the application saying we’re a sole proprietor — even though I correctly filled out my app with our legitimate EIN, our non-prof has been around for almost a decade. They they couldn’t pull up our 990’s and wanted copies. I sent them the direct link to the IRS website. Then they claimed they couldn’t pull up our website. It seemed like excuse after excuse just to get us to give up — but I didn’t. Ultimately, they finally rejected our app because our non-profit is technically filed as a religious corporation. It’s a C-Corp like any other C-Corp and makes exactly ZERO difference in underwriting. We’ve had our 501(c)3 status for years. I couldn’t believe it. I’m considering filing a discrimination complaint with the DA because they jerked me around for so many months only to finally tell me they don’t do business with “religious” corps. 🙄 (our non-profit is founded on the basis of empathy and brotherhood, not any particular denomination.)
Hello, is this like a secured credit card? If I fund $1000, that will be my credit limit?
Yes, it looks like they let you spend 80% of your limit. So $1000 in the account allows $800 spend.
Any DPs if this is a hard pull?
No. You enter in your EIN instead of SS.
joe
Got turned down.
“Your application did not pass our internal screening process”
Went pending, let’s see. I signed up for a Dun/Bradstreet earlier this year and used the physical addy listed there (one of places I work as 1099 contractor) as the address, there wasn’t a place for phys addy vs mailing. I got an EIN then in order to get the Duns listing.
nope. word on the street is you need an S-corp these days
Applied with my Sole Proprietor business registered with the State and EIN. Applied and went pending. Doubt I’ll get accepted, but worth the try.
Am I understanding this correctly?
Open an account, deposit $1000, spend the $1000, and get 80,000 points, redeemable for $800? Then close?
Or is it not that simple?
I have the same question?
I searched a bit and never found how much cash you have to deposit to qualify for the Brex Cash card. If it’s just the $1000 required to cover the $1000 minimum spending requirement to qualify for the bonus then it seems like a pretty great deal for some fairly minimal risk (if you cycle the deal quickly).