Brex vs. Mercury vs. Divvy card: Which is right for your business?

Selecting the right expense card for your business is crucial for streamlining expense management, keeping accurate financial records, and simplifying payroll. With an abundance of options on the market, it's essential to choose the right one that aligns with your business's specific needs and objectives.

In this comprehensive comparison, we’ll take a closer look at three popular expense card options: Brex, Mercury, and Divvy. Each of these cards comes with its own set of features, benefits, and drawbacks. By comparing them side by side, we aim to help you make an informed decision about which card is right for your business.

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How are corporate cards different from traditional business credit cards?

Before diving into the specific features and benefits of Brex, Mercury, and Divvy, it's important to understand the differences between corporate cards and traditional business credit cards. While both types of cards are designed to help businesses manage their expenses, there are several key distinctions that set corporate cards apart.

Underwriting and credit approval process

Traditional business credit cards typically require a personal guarantee from the business owner, which means that the owner's personal credit history and score play a significant role in the approval process. Corporate cards, on the other hand, are often underwritten based on the company's financial health and revenue. This means that businesses with strong financials can qualify for higher credit limits and better terms without relying on the personal credit history of the owner.

Payment terms

Traditional business credit cards usually offer a grace period for businesses to pay their balance, allowing them to carry a balance from month to month and only pay interest on the outstanding amount. Corporate cards, like Brex and Divvy, often operate on a charge card model, requiring businesses to pay their balance in full every 30 days. This can help businesses maintain better control over their expenses and avoid accumulating debt.

Expense management features

Corporate cards often come with more advanced expense management features compared to traditional business credit cards. These features may include real-time visibility into employee spending, the ability to set custom budgets and spending rules, and automated expense categorization. These tools can help businesses streamline their expense management processes and gain valuable insights into their spending patterns.

Integrations

Corporate cards, such as Brex, Mercury, and Divvy, prioritize seamless integration with popular accounting and expense management software. This can help businesses maintain accurate financial records and simplify their bookkeeping processes. Traditional business credit cards may not offer the same level of integration, making it more challenging to keep financial records up to date.

Rewards and cashback

While both corporate cards and traditional business credit cards may offer rewards or cashback programs, corporate cards often tailor their rewards to the specific needs and spending patterns of businesses. This can result in more valuable rewards for businesses using corporate cards compared to those using traditional business credit cards.

Corporate cards like Brex, Mercury, and Divvy offer a range of features and benefits that cater specifically to the needs of businesses, setting them apart from traditional business credit cards. By understanding these differences, you can make a more informed decision when choosing the right expense card for your company.

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Brex: A comprehensive solution for startups

Brex is a corporate card designed specifically for startups and high-growth companies. It offers a range of features tailored to the unique needs of such businesses, including high credit limits, a generous rewards program, and seamless integration with popular accounting software.

Credit limits and card issuance

Brex offers high credit limits based on a company's funding, sales, and cash balance, rather than relying on the owner's personal credit score. This approach allows startups to access more substantial credit lines than they might otherwise get with traditional credit cards. Brex issues both physical and virtual cards, making it convenient for businesses to manage their expenses.

Rewards and cashback

Brex's rewards program is one of its most attractive features. Companies can earn up to 8x points on rideshares, 5x points on travel booked through Brex, 4x points on dining, and 2x points on software subscriptions. These rewards can be redeemed for statement credits, gift cards, or travel bookings, providing additional value to startups.

Expense management and integrations

Brex's platform offers a variety of expense management features, including automated receipt capture and expense categorization. It also integrates with popular accounting software like QuickBooks, Xero, and NetSuite, simplifying the process of managing and reconciling expenses.

Fees and pricing

Brex does not charge any annual fees, late fees, or foreign transaction fees, making it an affordable option for startups. However, businesses are required to pay their balance in full every 30 days, which may not suit companies that need more flexibility in their payment terms.

Customer support

Brex provides customer support via email and chat. While their support is generally helpful and responsive, it may not be as comprehensive as that offered by some competitors.

Mercury: A banking solution with expense management tools

Mercury is a banking solution designed for startups, offering a suite of financial services, including expense management tools and corporate cards. Its expense card, the Mercury card, is designed to help businesses manage their spending efficiently.

Credit limits and card issuance

Mercury offers credit limits based on a company's financial health and cash balance. Like Brex, Mercury issues both physical and virtual cards, providing flexibility and convenience for businesses.

Rewards and cashback

Mercury offers 1.5% cashback on all domestic and international purchases, but doesn’t offer many other rewards, which may be a downside for businesses looking to maximize the value they get from their expense cards.

Expense management and integrations

Mercury offers a range of expense management features, such as automated expense categorization and the ability to set custom spending rules for employees. Mercury also integrates with popular accounting software, making it easy to maintain accurate financial records.

Fees and pricing

There are no annual fees, late fees, or foreign transaction fees associated with the Mercury card. This makes it a cost-effective option for businesses looking for a comprehensive banking solution with expense management tools.

Customer support

Mercury offers customer support via email and chat. They also provide a help center with articles and guides to help users navigate the platform and troubleshoot any issues. While Mercury's customer support is generally responsive and helpful, some users may prefer more personalized support options.

Divvy Pay: A versatile expense management platform

Divvy Pay is an expense management platform that offers both physical and virtual cards to help businesses manage their spending. With a strong focus on visibility, control, and automation, Divvy Pay aims to simplify expense management for companies of all sizes.

Credit limits and card issuance

Divvy Pay offers credit limits based on a company's financial health and revenue, similar to Brex and Mercury. Businesses can issue both physical and virtual cards to their employees, providing flexibility and convenience for managing expenses.

Rewards and cashback

Divvy Pay offers a rewards program that allows businesses to earn points on every purchase made with their Divvy cards. Companies can earn up to 7x points on specific categories, such as travel and dining, and 1x points on all other purchases. These points can be redeemed for statement credits, gift cards, or travel bookings, providing additional value to companies using Divvy Pay.

Expense management and integrations

Divvy Pay offers a range of expense management features, including real-time visibility into employee spending, the ability to set custom budgets and spending rules, and automated expense categorization. Divvy Pay also integrates with popular accounting software like QuickBooks, Xero, and Expensify, making it easy to maintain accurate financial records.

Fees and pricing

Divvy Pay does not charge any annual fees, late fees, or foreign transaction fees, making it an affordable option for businesses. However, companies are required to pay their balance in full every 30 days, similar to Brex, which may not suit businesses that need more flexibility in their payment terms.

Customer support

Divvy Pay offers customer support via email, chat, and phone. With a variety of support options and a reputation for responsive and helpful service, Divvy's customer support is considered a strong selling point for the platform.

Brex vs. Mercury vs. Divvy card: Making the right choice for your business

When comparing Brex, Mercury, and Divvy, it's essential to consider the specific needs and goals of your business. Each of these expense cards offers a unique set of features and benefits, so the best choice for your company may not be the same as for another.

If your business prioritizes a generous rewards program and high credit limits, Brex may be the best option for you. For companies looking for a comprehensive banking solution with expense management tools, Mercury might be a more suitable choice. Lastly, if you value a versatile expense management platform with strong customer support, Divvy Pay could be the right fit for your business.

In any case, it's crucial to carefully evaluate each option and consider factors such as credit limits, rewards programs, expense management features, integrations, fees, and customer support before making a decision. By doing so, you can ensure that you select the right expense card for your business, enabling you to manage expenses more efficiently and focus on what matters most: growing your company.

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