Brex Rewards: The Complete Program Guide

Brex Rewards, exclusively available for businesses, offers a winning combination of earning points easily with a wide variety of redemption options ranging from travel transfers to crypto purchases. The only problem? You will need to manage your finances with Brex to gain access to the program. Let’s see if the rewards will make sense to you.

What are Brex rewards?

Brex Rewards is more of a financial solution than a loyalty program, but comes with very valuable flex points. You’ll earn rewards when you use the Brex 30 card linked to your account to pay for your purchases, often at competitive earning rates to help you accumulate points faster.

Unlike other credit card rewards programs (think Chase Ultimate Rewards), Brex is a closed ecosystem. You will need a cash management account at Brex to get a rewards account. In addition, only companies are eligible for Brex accounts and therefore Brex Rewards.

Once you’ve earned Brex rewards, you can redeem them for cash back, transfer them to travel partners and more.

How to Earn Brex Rewards

To start earning Brex Rewards, you must first apply for a Free Brex Cash Account. Only US-based businesses with an EIN (Employer Identification Number) are eligible to apply and Brex may analyze your business model and funding source, among other factors, as part of their approval process. .

If you are approved, a card will automatically be included with your account. Most new accounts will receive a card that requires automatic daily payments from your Brex Cash account. Some accounts may instead qualify for a card with monthly payments, matching more traditional credit card accounts. However, monthly cards are reserved for well-established businesses or start-ups with proof of minimum funds available.

Credit card spending

Brex issues the Brex 30 Card as a convenient way to earn rewards points with every purchase. New cardholders can earn , which is another way to quickly build up a pool of points.

For a $0 annual fee, you’ll also earn . These earning rates are for cards with automatic daily payments and Brex Cash accounts. If you only pay monthly, you will receive 1 point less per dollar spent per category. There is no cap on the number of points you can earn and no limit on category bonuses.

Business owners can issue unlimited cards for their team, each with custom spending limits. All cards will earn Brex rewards on all spend to a single, centralized account.

It should be noted that balances must be paid in full and there is no option to carry over a balance from month to month. For this reason, it will not be suitable for all businesses. For those willing and able to make payments, the card also includes built-in features including expense management software and expense tracking options.

Link payroll or e-commerce platforms

New account holders can earn Brex rewards through a one-time bonus when they link their account to select payroll, e-commerce platforms or pay gateways. Currently, the bonus offers 20,000 reward points upon successful login of a partner platform within three months of signing up for Brex.

Not all platforms will integrate for the bonus, although a wide selection of popular services are eligible:

  • Payroll providers: ADP, Extensis, Gusto, Insperity, Intuit Payroll, Justworks, Paychex, Paylocity, Rippling, Sure Payroll, TriNet, WageWorks, Workday, Your People.
  • E-commerce platforms or payment gateways: Amazon, BigCommerce, Braintree, PayPal, Shopify, Square, Stripe, Venmo, Wix, Xoom.

Book a trip directly through Brex

Brex offers a booking engine for flights and hotels, which works the same way as other online travel agencies (OTAs) you may already know. Trips booked through Brex Travel will earn 4 points per dollar spent on all bookings and there is no need to pay with your Brex card (although your card is automatically linked as a payment option for added convenience).

In addition to earning points, Brex Travel Reservations integrates with TravelBank, meaning you can manage travel policies and authorize employee reservations as needed.

Buy Brex Rewards

Currently, there are no options to purchase Brex Rewards points.

Combine Brex rewards

Brex Rewards points cannot be combined between accounts, but multiple cards issued from the same account will be automatically deposited into a single Master Rewards account.

Refer a friend

Although Brex has a referral program, incentives are issued in the form of gift cards rather than Brex Rewards bonus points. For every business you successfully refer to Brex, you and the business you referred will receive a $250 Amazon gift card. Additionally, the business you refer must be approved and spend $1,000 using their new card.

How to Redeem Brex Rewards

Like other transferable currencies, Brex Rewards offers several different redemption options so you can choose the most beneficial type of rewards for your business. Your redemption options will depend on the type of account you hold, although all accounts can redeem points for gift cards, Brex Travel reservations or transfers to airline partners.

Some accounts may additionally be eligible to redeem points for cryptocurrency purchases, nonprofit donations, statement credits, or cash deposits for even more flexibility.

The value of your points is determined by the type of redemption you make and not all rewards are equal. Before making an irreversible redemption, make sure you get a fair value for your points.

Air Transfer Partners

For anyone wanting to learn the intricacies of frequent flyer programs, transferring Brex Rewards to partner airlines can result in outsized value and maximized rewards.

You can redeem your Brex Rewards with the following airline partners at the rate of 1 Brex Reward point per 1 mile:

Although the list of transfer partners is short compared to other credit card reward programs, it represents the airlines of all three alliances.

Brex says transfers take one business day to process, although in many cases the transfer is completed instantly.

Brex travel bookings

Flight and hotel bookings made through Brex Travel can be paid for with points, at a rate of 1 cent per point. This can be a useful option for businesses that don’t want to worry about blackout dates or inventory checks when booking flights or when you need to book a hotel, as there are currently no partners from hotel transfer associated with Brex Rewards.

Gift cards

Brex rewards can also be redeemed for gift cards at a flat rate of 1 cent per point, typically with a minimum redemption amount of $25 (2,500 points). Only a limited number of brands are available, although generic Mastercard gift cards are an option, meaning you have a way that will cover almost any purchase.

Cash back

Brex Cash accounts are eligible for cashback, also at a rate of 1 cent per point. There is no minimum redemption and account and deposits are made immediately, making it an incredibly flexible reward if you qualify.

Statement Credits

If you have a Brex card where you only have to make monthly (rather than daily) payments, you also have the option of redeeming Brex rewards for credits applied to your monthly statement.

Unfortunately, this redemption option gives mediocre value – only 0.7 cents per point. If you want to use rewards to pay your bill, you can redeem cash back at 1 cent per mile and then pay your bill with the rewards.

Cryptocurrency

As another redemption option, Brex Rewards can be exchanged for cryptocurrency. Points can be used to buy Bitcoin or Ethereum, with a minimum redemption threshold of 1,000 points.

For this type of redemption, you will enter the number of points you wish to redeem and the number of shares (or fractions of shares) purchased will be calculated based on market rates. Although the number of shares may fluctuate, the value of the reward does not change: every 1,000 point trade buys $7 worth of cryptocurrency (0.7 cents per point). Again, you can use cash back to buy cryptocurrency on your own at 1 cent per point instead.

give points

The newest redemption option, Brex Rewards, currently allows you to redeem points for assistance to Ukraine. Specifically, donations are made to support hospitals in Ukraine at a rate of 1 cent per point. Currently, this is the only nonprofit included as a donation exchange option.

Conclusion

For companies looking for an all-in-one solution, Brex combines several financial services and integrations, including the flexible Brex Rewards program. The ability to earn points at a competitive rate with multiple redemption options, all at no cost, sets it apart, but it does require a certain level of commitment to participate. There’s no doubt that Brex Rewards is a valuable solution for some businesses, but the extra chains might give you a double take.

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About Irene J. O'Donnell

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