AwardWallet receives compensation from advertising partners for links on the blog. Terms Apply to the offers listed on this page. The opinions expressed here are our own and have not been reviewed, provided, or approved by any bank advertiser. Here's our complete list of Advertisers.
This promotion has ended; please review current/active promotions.
Update 2/26/2021: One Mile At A Time shared that the 110,000-point bonus on the Brex Cash and Card is likely ending soon. If you own a business and haven't taken advantage of this offer, you'll want to do so ASAP.
It's an exciting time to be in the world of travel rewards. New companies enter the field all the time, bringing along exciting innovations to help customers make the most of their finances. Perhaps the most exciting newcomer to the rewards game is the Brex Cash and Card.
While not exactly a credit card, it functions much like one and—more importantly—offers rewarding benefits just like one. In fact, for a limited time, small business owners can sign up (with no credit inquiry) and receive a bonus of up to 110,000 transferrable points—worth at least $1,100—with zero annual fee!
An Introduction to Brex Cash
Brex Cash and Card is a business cash management system similar to a business checking account that comes with a linked “credit card”. However, Brex Cash and Card is not a bank account, and its linked card is not actually a credit card. Let me explain.
Brex Cash Account
After opening a Brex Cash and Card account, members start by linking their business checking account. Once linked, Brex customers can transfer funds to conduct everyday business transactions, including:
- process payroll
- initiate bill pays
- wire money domestically
- wire money internationally
The best part? There are NO FEES for any of it. Zero. And that even includes international wires.
The idea is to give business owners access to the most intuitive, cohesive business account possible—with none of the normally-associated fees.
Brex Cash Card
Every Brex Cash Account comes with a linked Brex Cash and Card. This card is unique, delivering attributes of both a credit card and a debit card—even though it's neither.
The Brex Cash and Card is a World Elite Mastercard and carries no annual fee and no foreign transaction fees. In this way, it functions like any credit card, allowing cardholders to make transactions (virtually and in-person) and earn rewards as normal. However, Brex limits your “credit line” to 80% of your Brex Cash account balance, with every purchase drawn from there automatically. In this way, it's like a very-rewarding debit card.
Brex Cash Card Signup Bonus and Earning Scheme
If you've made it this far, I've got good news: I haven't even covered the best part yet.
The most exciting aspect of the Brex Cash Account and linked Brex Cash and Card is the signup bonus and earning potential. Cardholders can earn up to 110,000 bonus points as part of the welcome offer and earn up to 8X points on regular purchases.
Combine this with no annual fee and no credit inquiry, and the Brex Cash and Card becomes a no-brainer.
110,000 Points or $1,100 Signup Bonus
Business owners who signup for a Brex Cash Account through One Mile at a Time can receive up to 110,000 bonus points as a welcome bonus after completing specific activity:
- Apply through OMAAT's link and receive 80,000 bonus points after spending $1,000 on your new Brex Card.
- Spend $3,000 on your new card within the first three months and receive another 10,000 bonus points.
- Deposit sales revenue or link payroll to your new Brex Cash Account and receive another 20,000 bonus points.
If you complete all three steps, you'll leave with at least 110,000 points total.
Which Businesses are Eligible for the Brex Cash Card
The application process is somewhat unique. So, here are a few things to keep in mind:
- This product is only available to small businesses registered in the United States.
- Businesses must be registered as an LLC, C-Corp, S-Corp, or LLP to qualify. (Sole Proprietorships aren't currently eligible.)
- The application does not involve a “hard-pull” on your personal credit report. However, applicants still need to provide their Social Security number for federal data collection requirements.
- If you're approved, your credit limit for your Brex Cash and Card will be equal to 80% of your Brex Cash Account balance.
- There is no minimum funding amount.
- If you're offered multiple account options in the application process, we recommend the ‘Brex Cash' option. This is the great deal that we've covered here.
- You must have a business checking account to fund a Brex Cash Account. It is not possible to link a personal checking account.
- All deposits stored at program banks are FDIC-insured up to $250,000.
Another interesting facet to recognize is that since there is no credit inquiry, this account/card won't appear on any personal credit reports. Consequently, Brex Cash accounts won't affect your Chase 5/24 status.
Brex Cash Card Earning Structure
While the Brex Cash and Card resembles a debit card and carries no annual fee, it provides surprisingly great returns for your spending. On regular purchases, Brex Cash and Card cardholders will earn:
- 8X points on rideshare
- 5X points on Brex Travel
- 4X points at restaurants
- 3X points on Apple products through Brex Portal
- 3X points on recurring software
- 1X points on everything else
Keep in mind that Brex may offer different earning structures depending on your application path. If you signup through OMAAT's link as discussed and select the daily payment method, you should receive the above rates.
What are “Brex Points” worth?
If you're like me, when you saw these lucrative earning rates and a six-figure welcome bonus, you probably assumed that Brex Points must carry little value—especially considering that the card charges no annual fee.
But I was wrong. Brex Points are actually quite valuable.
Cash Back at 1¢ Each
For one, they're worth a minimum of 1¢ each if redeemed for cash back. This establishes the minimum value of the card's 110,000-point signup bonus as a whopping $1,100. Again, considering the card's no annual fee and no credit inquiry, that's unheard of.
Even better, members can transfer Brex Points 1:1 to eight different airline loyalty programs! We expect this list will grow with time, but current travel partners include:
- Aeromexico Club Premier
- Air France-KLM Flying Blue
- Avianca LifeMiles
- Cathay Pacific Asia Miles
- Emirates Skywards
- JetBlue TrueBlue
- Qantas Frequent Flyer
- Singapore KrisFlyer
You may recognize some of these partners as mainstays in the award-travel community. Flying Blue miles, Avianca Lifemiles, and Emirates Skywards are particularly valuable to me. These programs have the ability to deliver much better than 1¢ per mile value.
Other Redemption Options
Additionally, Brex cardholders can redeem Brex Points for select gift cards and travel (via Brex Travel) for 1¢ each.
However, I'll likely steer clear of these options, personally. Since the redemption rate for gift cards is the same as redeeming for cash, I'd almost always prefer cash. Likewise, instead of redeeming towards travel, Brex customers can redeem for cash and use the money to book travel through Brex Travel themself. In this way, they'd receive the same value while simultaneously earning 5X points for the purchase.
As a newcomer to the award travel community, the Brex Cash Account and Brex Cash and Card almost seem too good to be true. With no credit inquiry, zero annual fees, and as little as $3,000 in spend, new cardholders can walk away with a signup bonus worth $1,100 at minimum.
I'm not currently aware of how long Brex intends to provide this offer, but I'll report back if we get a firm deadline. If you operate an LLC, LLP, C-Corp, or S-Corp registered in the U.S., this could represent the easiest 110,000 points you'll ever earn.
What do you think of the Brex Cash and Card?
The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.