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Brex Corporate Card for Startups Review

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

If you’re the founder or owner of a startup company, you’re most likely aware of the challenges of raising funds or gaining access to credit. The Brex For Startups provides a great alternative to traditional business credit cards, since it doesn’t require a personal guarantee, credit score or security deposit from the business owner.

Instead, your credit limit will be determined either by how much cash you’ve raised or the equity in your company (or both), as well as your company’s spending patterns.

Additionally — unlike other business credit cards, which typically cap the amount of rewards you can earn in bonus spend categories — the Brex For Startups lets cardholders earn points on every dollar spent with industry-leading multipliers: 7x on rideshare, 4x on travel, 3x on restaurants, 2x on software subscriptions and 1x on all other transactions.

According to Brex’s site, the Brex For Startups uses an underwriting technology that allows applicants to be “approved in minutes.” Upon approval, and after linking your company bank account to the Brex For Startups, you (and your team) can immediately begin making charges using virtual credit card numbers. You will receive your physical card within three to five business days.

Read on for a full breakdown of Brex For Startups, including what we like and dislike about the card, and how it compares to the Bank of America® Business Advantage Cash Rewards Mastercard® credit card.

Who is eligible?

Companies that are organized and registered in the U.S., including C-corps, S-corps, LLCs and LLPs, are eligible for the Brex For Startups. Consumers, sole proprietors, unincorporated partnerships and companies registered outside of the U.S. are not permitted to apply.

Where the Brex For Startups stands out

Rewards. Cardholders earn points on every dollar spent with industry-leading multipliers: 7x on rideshare, 4x on travel, 3x on restaurants, 2x on software subscriptions and 1x on all other transactions.

Points can be redeemed for direct statement credit or travel. You can also transfer points at a rate of 1:1 to travel partners, including JetBlue TrueBlue, AirFrance KLM, Aeromexico Club Premier, Avianca Lifemiles and more.

No personal liability: Because the Brex For Startups does not require a personal guarantee, your personal credit score will not be impacted — even if you are not approved for the card.

Build business credit history: You can build your business credit history when you pay your bill on time, since the Brex For Startups reports payment information to Dun & Bradstreet and Experian.

Worldwide acceptance: The Brex For Startups is part of the World Elite Mastercard program — meaning it can be used at millions of merchants that accept Mastercard and Visa in more than 200 countries.

Foreign transaction fees:  None. This means you won’t be charged additional fees when you use the Brex For Startups outside of the U.S.

Additional benefits

  • Automatic monthly payments
  • 24/7 concierge assistance
  • Zero liability fraud protection
  • Expense management tools
  • Special discounts at partner merchants

Where the Brex For Startups falls short

Lower rewards rate for some. You can only earn the higher rewards rate if you qualify for Brex Exclusive status, which includes making the Brex For Startups the exclusive corporate card for your business. Otherwise, you will only earn 1 point per dollar on every purchase.

Cannot carry a balance. Because the Brex For Startups is a charge card, you must pay your balance in full each month. Your payments will automatically be deducted from your company’s linked bank account.

High bank account balance required. To qualify for the Brex For Startups, you must have a minimum bank balance of $100,000.

Compare it with the Bank of America® Business Advantage Cash Rewards Mastercard® credit card

If you want to earn rewards on business purchases, but you don’t qualify for the Brex For Startups’s $100,000 minimum bank account balance, you may be better off with a business credit card like the Bank of America® Business Advantage Cash Rewards Mastercard® credit card.

The card offers 3% cash back on your choice of one of the following six categories: gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services, 2% cash back on dining (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter) and 1% cash back on all other purchases. Choice category options include gas stations (default), office supply stores, travel, TV/telecom and wireless, computer services or business consulting services. You are allowed to change your choice category one time per calendar month.

Additionally, Bank of America® Business Advantage Cash Rewards Mastercard® credit card holders earn a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening.

See how the cards compare side by side in the table below.

 Brex For StartupsBank of America® Business Advantage Cash Rewards Mastercard® credit card
Sign-up bonus75,000 in Brex Rewards points upon signup and waived card fees for life (equal to $750+ value)*$300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening
RewardsEarn points on every dollar spent with industry-leading multipliers: 7x on rideshare, 4x on travel, 3x on restaurants, 2x on software subscriptions and 1x on all other transactions.3% cash back on your choice of one of the following six categories: gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services, 2% cash back on dining (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter) and 1% cash back on all other purchases.
Intro APR on purchasesN/A0% for 9 billing cycles
Regular purchase APRN/A13.74% - 23.74% Variable APR
Annual fee$0$0
Foreign transaction feeNone3% of the U.S. dollar amount of each transaction

Unlike the Brex For Startups, the Bank of America® Business Advantage Cash Rewards Mastercard® credit card limits the amount of cash back you can earn in bonus spend categories to $50,000 per year. That said, if you max out the spend cap on a choice category during the first year of card membership, you’ll earn $1,500 cash back on those purchases alone. Once you factor in the sign-up bonus, that amount becomes $1,800.

Additionally, if you plan to finance large business expenses, the Bank of America® Business Advantage Cash Rewards Mastercard® credit card will be the better choice, since it offers an introductory APR on purchases of 0% for 9 billing cycles (then 13.74% - 23.74% Variable APR). By contrast, the Brex For Startups does not allow cardholders to revolve a balance on the card.

The bottom line

If you’re in the market for a corporate charge card that offers unlimited rewards and doesn’t impact your personal credit history, the Brex For Startups could be a great option. Just keep in mind that you will be required to have a minimum bank account balance of $100,000.

But if you’re interested in a business credit card that allows you to carry a balance interest-free for close to a year, the Bank of America® Business Advantage Cash Rewards Mastercard® credit card will be a better fit.

See our top picks for Best Small Business Credit Cards.

The information related to the Bank of America® Business Advantage Cash Rewards Mastercard® credit card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Tracy Brackman
Tracy Brackman |

Tracy Brackman is a writer at MagnifyMoney. You can email Tracy here

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Credit Cards

Walmart Rewards Card and Walmart Rewards Mastercard Review

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

Walmart and Capital One have partnered to launch two new credit card products on Sept. 24, 2019: the Walmart Rewards Card and the Capital One® Walmart RewardsTM Card. Both cards offer bonus cash back at Walmart.com and come with a $0 annual fee. Plus, each card allows you to Earn 5% back in Walmart stores for the first 12 months when you use your Capital One Walmart Rewards Card with Walmart Pay - the quick and secure way to pay with your phone at Walmart.

Where the cards differ the most is that the Walmart Rewards Card is a private-label card exclusively for Walmart purchases, while the Capital One® Walmart RewardsTM Card can be used anywhere Mastercard is accepted.

If you are already an existing Walmart store cardholder, you will automatically be converted to the new version of your card beginning Oct. 11. You will be eligible to receive the introductory offer if you load your card into Walmart Pay and use the mobile app when shopping at brick-and-mortar locations. You can expect to receive an updated card in the mail some time late 2019 or early 2020.

For a full breakdown of what these card offers, read on. In addition to showing what we like and dislike about each card, we’ll show how they compare to the Discover it® Cash Back.

What we like about the Walmart Rewards Card

Sign-up bonus. The Walmart Rewards Card offers 5% back for the first 12 months when you use your card with Walmart Pay for in-store purchases, upon approval.

This is the same introductory bonus as the Capital One® Walmart RewardsTM Card.

Bonus cash back. Cardholders earn 5% back on purchases made at Walmart.com and on the Walmart app, 2% back on Walmart purchases in stores outside of the introductory offer, and 2% back at Walmart Fuel Stations.

What we don’t like about the Walmart Rewards Card

Can only use card on Walmart purchases. You can only use the Walmart Rewards Card at Walmart stores, Walmart.com and Walmart fuel centers (including Murphy gas stations).

Lower rewards rate on in-store purchases after first year. Like the Capital One® Walmart RewardsTM Card, the Walmart Rewards Card only lets you earn 5% back for the first 12 months when you use your card with Walmart Pay for in-store purchases, upon approval. After that, the rate drops to 2%.

What we like about the Capital One® Walmart RewardsTM Card

Cash back on every purchase. Cardholders earn 5% back at Walmart.com & Walmart app, Grocery Pickup and Delivery, 2% at Walmart stores, Walmart & Murphy USA Fuel Stations, Restaurants & travel, 1% Everywhere else Mastercard® is accepted.

No annual fee. Like the Walmart Rewards Card, the Capital One® Walmart RewardsTM Card comes with a $0 annual fee.

What we don’t like about the Capital One® Walmart RewardsTM Card

Walmart Pay required. Both cards require Walmart Pay to earn the introductory bonus rate: Earn 5% back in Walmart stores for the first 12 months when you use your Capital One Walmart Rewards Card with Walmart Pay - the quick and secure way to pay with your phone at Walmart.

However, unlike the Walmart Rewards Card, the Capital One® Walmart RewardsTM Card also offers bonus cash back on restaurant and travel purchases.

Compare cards to the Discover it® Cash Back

If you’d prefer to earn the 5% cashback rate on a wider variety of purchases, the Discover it® Cash Back is a good alternative. Along with a $0 annual fee, the Discover it® Cash Back offers 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate, 1% unlimited cash back on all other purchases – automatically.

Discover it® Cash Back

APPLY NOW Secured

on Discover Bank’s secure website

Rates & Fees

Discover it® Cash Back

Annual fee
$0
Intro Purchase APR
0% for 14 months
Regular APR
13.49% - 24.49% Variable
Rewards Rate
5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate, 1% unlimited cash back on all other purchases - automatically.
Credit required
good-credit
Excellent/Good

See how the cards compare side by side in the table below.

 Walmart Rewards CardCapital One® Walmart RewardsTM CardDiscover it® Cash Back
Annual fee$0$0$0
Intro APR on purchasesN/AN/A0% for 14 months
Regular purchase APR26.99% variable17.99% - 26.99% variable13.49% - 24.49% Variable
Rewards5% back on purchases made at Walmart.com and on the Walmart app, 2% back on Walmart purchases in stores outside of the introductory offer, and 2% back at Walmart Fuel Stations.5% back at Walmart.com & Walmart app, Grocery Pickup and Delivery, 2% at Walmart stores, Walmart & Murphy USA Fuel Stations, Restaurants & travel, 1% Everywhere else Mastercard® is accepted5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate, 1% unlimited cash back on all other purchases - automatically.
Sign-up bonus/Intro Offer5% back for the first 12 months when you use your card with Walmart Pay for in-store purchases, upon approval.Earn 5% back in Walmart stores for the first 12 months when you use your Capital One Walmart Rewards Card with Walmart Pay - the quick and secure way to pay with your phone at Walmart.Discover will match ALL the cash back you've earned at the end of your first year, automatically. There's no signing up. And no limit to how much is matched.
Foreign transaction feesN/ASee termsNone

Since Discover’s cash back bonus categories rotate each quarter, you have the opportunity to earn 5% cash back on a wide range of purchases throughout the year. In fact, during the fourth quarter of 2019, Discover will offer 5% cash back at Walmart.com, Amazon.com and Target. If you max out the quarterly spend requirement by charging $1,500 during the months of October, November and December, you can earn $75 cash back on those purchases by the end of the year.

See Discover’s 5% cashback calendar for 2019 here.

The bottom line

If you spend a large amount on groceries, toiletries and other household items from Walmart each year, you should consider a card that offers cash back on those purchases, like the Walmart Rewards Card or the Capital One® Walmart RewardsTM Card.

The Discover it® Cash Back is also a great option, since it will offer its bonus rate on Walmart.com purchases, Amazon.com purchases, and Target purchases throughout October – December 2019, on up to $1,500 in purchases when you activate. The Walmart Rewards Card and Capital One® Walmart RewardsTM Card, on the other hand, allow you to earn the bonus rate on in-store purchases during the first year of card membership.

The information related to Capital One® Walmart RewardsTM Card and Walmart Rewards Card has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Tracy Brackman
Tracy Brackman |

Tracy Brackman is a writer at MagnifyMoney. You can email Tracy here

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Reviews

Apple Card Review

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

woman using laptop computer
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Apple aims to redefine credit card usage with the launch of the Apple Card, which debuted in March 2019. In addition to providing a simplified application process and not charging any fees, the Apple Card encourages members to pay less interest and provides special privacy and security features. Customers also receive a percentage of every Apple Card purchase amount in the form of Daily Cash.

Earn 2% Daily Cash each time you use the Apple Card with Apple Pay. You'll also earn 3% Daily Cash on all purchases made directly with Apple, including at Apple Stores, apple.com, the App Store and the iTunes Store; for Apple services; and for using Apple Pay for Uber and Uber Eats. Cardholders will also earn 1% Daily Cash at stores and on websites and apps that don't take Apple Pay.

Daily Cash, which is automatically added to your Apple Cash card in the Wallet app on your iPhone, can be used like cash to make purchases, send money to your bank account, pay down your Apple Card balance and more.

If you have an iPhone 6 or later, you may be eligible for the Apple Card. To apply, simply update your iPhone to iOS 12.4, open the Wallet app and tap the plus (+) sign. Once approved, you can begin using your Apple Card instantly via Apple Pay.

You will also be issued a physical, titanium card to use at locations where Apple Pay is not yet accepted. Purchases made using the titanium Apple Card will earn 1% Daily Cash.

In this review, we’ll break down the pros and cons of the Apple Card as well as show how it compares to the Uber Visa Card.

Where the Apple Card stands out

Rewards rate. The Apple Card offers 2% Daily Cash each time you use the Apple Card with Apple Pay. You'll also earn 3% Daily Cash on all purchases made directly with Apple, including at Apple Stores, apple.com, the App Store and the iTunes Store; for Apple services; and for using Apple Pay for Uber and Uber Eats. Cardholders will also earn 1% Daily Cash at stores and on websites and apps that don't take Apple Pay.

No fees. You will not be charged additional fees to use the Apple Card. In addition to a $0 annual fee, the Apple Card comes with a $0 returned payment fee, a $0 late penalty fee (although you will incur interest charges) and no foreign transaction fees.

Smart payment suggestions. To help you make informed decisions when paying your card bill, the Apple Card will estimate the interest charges you will incur (in real time), based on the amount you decide to pay.

Also, the Apple Card offers smart payment suggestions to encourage you to pay down your balance more quickly.

Privacy and security. A unique card number is created on your iPhone for your Apple Card. This means that each purchase made using your iPhone is protected by Face ID or Touch ID authorization, as well as a one-time unique dynamic security code.

Additionally, the issuer of the Apple Card, Goldman Sachs Bank USA, does not share or sell your data to third parties for marketing and advertising purposes.

Additional Apple Card benefits

  • Titanium card for places that don’t accept Apple Pay
  • Ability to contact Apple Card support 24/7 by sending a text from Messages
  • Real-time views of your latest transactions and balance via the Wallet app
  • Weekly and monthly spending summaries

Where the Apple Card falls short

No sign-up bonus. The Apple Card does not come with a sign-up bonus.

Application restrictions. If you’re an Android cellphone user, you’re out of luck. The Apple Card is only available if you have an iPhone 6 or later that runs the latest version of iOS.

How it compares with the Uber Visa Card

If you want to earn bonus cash back in popular spend categories without paying an annual fee, there are other credit cards to consider. The Uber Visa Card, for example, offers 5% back in Uber Cash on Uber rides, Uber Eats, and JUMP, 3% in Uber Cash on restaurants, bars, hotels, and airfare, and 1% back in Uber Cash on all other purchases.
Additionally, the card also comes with a $0 annual fee and doesn’t require an iPhone to apply.

See how the Uber Visa Card compares to the Apple Card in the table below.

 Apple CardUber Visa Card
Annual fee$0$0
Sign-up bonusN/AEarn $100 in Uber Cash after spending $500 on purchases in the first 90 days.
Rewards
  • 2% Daily Cash each time you use the Apple Card with Apple Pay. You'll also earn 3% Daily Cash on all purchases made directly with Apple, including at Apple Stores, apple.com, the App Store and the iTunes Store; for Apple services; and for using Apple Pay for Uber and Uber Eats. Cardholders will also earn 1% Daily Cash at stores and on websites and apps that don't take Apple Pay.

  • 5% back in Uber Cash on Uber rides, Uber Eats, and JUMP, 3% in Uber Cash on restaurants, bars, hotels, and airfare, and 1% back in Uber Cash on all other purchases.

Intro APR on purchasesN/AN/A
Regular purchase APR12.74%-23.74% Variable17.24% - 27.99% Variable
Foreign transaction feesNone0% of each transaction in U.S. dollars.

Unlike the Apple Card, the Uber Visa Card allows you to earn $100 in Uber Cash after spending $500 on purchases in the first 90 days. Additionally, the Uber Visa Card offers a higher cashback rate on dining, hotels and airfare.

That said, the Uber Visa Card offers a slightly lower cashback rate on Uber purchases than the Apple Card: The Uber Visa Card offers 2% back on Uber purchases, compared with 3% with the Apple Card. The caveat is you must pay for your Uber purchases via Apple Pay to earn the 3% rate with the Apple Card.

The bottom line

If you’re an iPhone user who wants to earn cash back on every purchase and take advantage of tools that encourage responsible card usage, the Apple Card is a solid option. However, if prefer a card that comes with a sign-up bonus and a higher rewards rate on dining and travel purchases, the Uber Visa Card is the better choice.

The information related to Apple Card and Uber Visa Card has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. 

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Tracy Brackman
Tracy Brackman |

Tracy Brackman is a writer at MagnifyMoney. You can email Tracy here

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