Brex Card Review (2026): A Corporate Charge Card Now Owned by Capital One

Brex publishes a single multiplier set with category bonuses on its rewards page, and that set does not change with your repayment cadence. This is worth stating plainly, because Brex historically differentiated its earn rates by how often you settled, and older write-ups still repeat elevated multipliers tied to daily payments. Those cadence-linked figures do not appear on the current rewards page and should not be used to model returns.

Brex also does not publish a redemption value for its points, so there is no defensible way to convert a multiplier into cents and no reason to trust anyone who does. Judge the earn structure on the categories your spend actually falls into and confirm the live multipliers on the rewards page at the moment you apply. With no annual fee, there is no hurdle to clear before the rewards are net positive, which removes most of the pressure from this decision. Rewards are not the reason companies pick this card, and the product does not really pretend otherwise.

The eligibility rules are published, which is unusual in this category. For startups, Brex requires $50,000 as a minimum cash balance if you have raised funding, or potentially lower if a partner referred you. Companies that have not raised yet or do not hold $50,000 can still apply and may qualify with daily payments instead. To reach monthly terms as a mid-market or enterprise company, Brex says you will need more than $400,000 per month in revenue, or $4.8 million per year.

The daily-payments path has its own published criteria: an equity investment of any amount from an accelerator, angel or VC, or a plan to raise in the near future; more than $500,000 a year in revenue; or a tech startup on a path to those criteria that is referred by an existing customer or partner.

Entity rules are strict. Brex accepts US-registered C-corps, S-corps, LLCs and LLPs with an EIN. Sole proprietors are not eligible, and neither are non-US companies. The card requirements page asks for a US physical address, which is stricter than the Brex business account FAQ, where a US or international address is allowed. Those are two different products under one brand, and the card is the tighter of the two.

Brex is not a bank, and the entity structure is worth reading before you apply. Brex LLC is a wholly owned subsidiary of Capital One, N.A. Brex Treasury LLC is a broker-dealer and a member of FINRA and SIPC, described as a Capital One company. Brex Payments LLC is a licensed money transmitter under NMLS #2035354. Card issuance has historically run through partner banks under the Brex program, and the footer disclosures on the product pages are the authoritative current statement of that structure.

The distinction that matters most to a treasurer is coverage. The Brex business account uses an FDIC sweep across 24 partner banks. Brex Treasury is brokerage-held and carries SIPC coverage rather than FDIC coverage, which is a different protection covering a different failure. Do not treat the two as interchangeable.

Around the card sits the software: expense management, receipt capture, bill pay, reimbursements and accounting integrations. Pricing is tiered, with a free tier and paid tiers charged per user per month. Brex does not publish a per-user price in a form that survives a fact-check, so get the current number in writing during the sales conversation rather than budgeting off a figure you read elsewhere.

The card itself has no annual fee, and there is no APR because there is no balance to carry. The penalty mechanic here is late fees rather than interest, which is a meaningful difference: missing a settlement on a charge card is an account problem, not a rate problem.

The cost that catches people is foreign spend. Brex markets the card as having no foreign transaction fees, while its own cost-of-services support article discloses an FX rate markup of up to 3%. Both statements come from Brex. If a material share of your spend is in another currency, price the markup into your comparison rather than the marketing line.

The third cost is software. The free tier exists, but the paid tiers are per user per month, and headcount is exactly what grows on a corporate card program. A twenty-seat rollout on a paid tier is a real recurring line item even though the card says zero.

A venture-backed company with $50,000 or more sitting in its operating account, an EIN and a US address is the intended buyer, and the product fits that shape well. It also fits a profitable mid-market company clearing $400,000 a month in revenue that wants monthly terms and per-employee controls without an owner signature on a guarantee. If your finance team's real problem is chasing receipts and enforcing category limits across a growing headcount, the platform is the purchase and the card is the delivery mechanism.

Skip it if you are a sole proprietor, an unregistered business or a non-US entity, because you cannot get it regardless of how strong your revenue looks. Skip it if you rely on carrying a balance through seasonal troughs, since settlement in full on a daily or monthly cadence removes that option entirely. And skip it if you were counting on net-60 float, which is discontinued outside grandfathered accounts, or if you specifically want a card that builds a documented business credit file, because Brex does not publish its bureau reporting.

**Does Brex still offer net-60 terms?**

No, except for accounts that were already on them. Net-60 has been discontinued for new accounts as of 2026, and the available cadences are daily and monthly. Any coverage that still sells 60-day float as a Brex advantage is out of date.

**Can a sole proprietor get the Brex Card?**

No. Brex requires a US-registered entity with an EIN, specifically a C-corp, S-corp, LLC or LLP. A sole proprietorship without a registered entity does not qualify no matter how much cash it holds.

**What does the Capital One acquisition mean for cardholders?**

Capital One announced the deal on January 22, 2026 at $5.15 billion, structured roughly half in cash and half in stock against a prior $12.3 billion private valuation, and completed it on April 7, 2026. The most durable evidence of the change is the legal footer on Brex product pages, which now names Brex LLC as a wholly owned subsidiary of Capital One, N.A. Those footer disclosures are the thing to re-read before you apply, since the entity structure is what the integration touches first.

**Will applying affect my personal credit score?**

No. Brex does not run a personal credit check, does not require a personal guarantee and does not report the account to your personal credit. On the business side, Brex does not publish which bureaus it reports to, so do not open the account expecting to build a business credit file with it.

This is a cash-underwritten spend platform wearing a card, and it is priced accordingly at zero. The gate is liquidity rather than a credit score: $50,000 in the bank for a funded startup, or $400,000 a month in revenue for monthly terms at scale. Clear that gate and you get controls, no owner liability and no annual fee. Fall short of it, or need to carry a balance for even one month, and no amount of revenue makes this the right product.

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