Ramp Card: Straightforward Rewards, No Personal Guarantee

You can earn unlimited cash back but you need a big bank account and can’t carry a balance.
Apr 28, 2022

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Our Take

4.1

NerdWallet rating 

The bottom line:

Look to the Ramp corporate card if you have strong (and growing) cash flow but limited credit history. Businesses with established credit can find better perks and flexibility elsewhere.

Ramp
Annual fee
$0
Regular APR
N/A
Intro APR
N/A
Rec. credit score
300-850 (Poor - Excellent)
Apply now

on Ramp's website

Quick Facts

Pros & Cons

Pros

  • No annual fee or foreign transaction fees.

  • Simple, straightforward rewards.

  • No personal guarantee or credit check.

  • Direct integrations with popular tools and card-level spending controls and alerts.

Cons

  • Balance must be paid in full each month.

  • Customer service via Ramp dashboard only. No live phone support.

Compare to Other Cards

NerdWallet rating 
NerdWallet rating 
NerdWallet rating 
Annual fee

$0

Annual fee

$95

Annual fee

$0

Regular APR

N/A

Regular APR

16.74%-21.74% Variable APR

Regular APR

14.74%-22.74% Variable APR

Intro APR

N/A

Intro APR

N/A

Intro APR

0% intro APR on purchases for 12 months from the date of account opening

Recommended Credit Score
Recommended Credit Score
Recommended Credit Score

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Full Review

Ramp Card is a corporate charge card available to incorporated businesses (corporations, LLCs and limited partnerships) in the U.S. The card comes with no annual fee, unlimited 1.5% cash back, card-level spending controls and direct integrations with top business tools.

You can get a Ramp Card without a personal guarantee or credit check, provided your business has strong revenue and at least $75,000 in a business bank account.

To apply for a Ramp Card, you need to provide the following:

  • A business email address on a company domain.

  • Login credentials to link your business bank account.

  • Employer identification number, or EIN, and business formation documents (articles of incorporation, etc.).

  • Personal address and Social Security number (last four digits). Business owners without an SSN can use a foreign passport and proof of address.

  • Estimated monthly spend on all business credit cards.

Once approved, business owners get a virtual card and can start using it immediately. Businesses that apply for a physical card will receive one in seven to 10 business days.

Ramp account holders can order additional cards (physical and virtual) through the Ramp dashboard and set spending controls and alerts. You can also assign roles for admins, bookkeepers, employees and card managers, and set up integrations with QuickBooks, Xero, Slack and other business applications.

Customer support is also handled through your Ramp dashboard. There is currently no option for live support by phone or chat. The dashboard is available only via a web browser; Ramp doesn't have a mobile app.

Key features

Card type: Small business.

Annual fee: $0.

Sign-up bonus: None.

Rewards: Earn unlimited 1.5% cash back on all purchases. Rewards can be redeemed as a statement credit.

APR: N/A.

Foreign transaction fee: None.

Other benefits:

  • Automatic receipt matching and expense categorization help streamline accounting functions.

  • Spending controls and automatic approval flows allow you to dictate when, where and how company cards are used.

  • Expense management and forecasting tools help identify cost-savings opportunities.

  • Access to discounted pricing with partner vendors and free contract negotiation.

Why you might want the Ramp Card

Simple, straightforward rewards

There are no bonus categories or complicated qualifiers to remember with Ramp. None. Redemption is easy, too. Simply apply cash back to your card balance via the payments tab on your Ramp dashboard.

Available without a personal guarantee, credit check

Ramp looks at your business’s revenue and cash flow — rather than your personal credit history — to determine eligibility and set your credit limit. So business owners with bad credit can qualify as long as their company is thriving. And Ramp doesn’t require a personal guarantee, so business owners aren’t personally liable for any outstanding balance if the business fails.

Ramp vs. Brex

Ramp and Brex are two of the leading corporate credit cards on the market. Both are charge cards, meaning balances need to be paid in full each month, and neither requires a personal guarantee or credit check. There are a few key differences between the Brex Card and the Ramp Card, such as the rewards rate and eligibility threshold.

Ramp Card

Rewards

Earn unlimited 1.5% cash back on all purchases.

Rewards can be redeemed as a statement credit.

Earn 1 point per $1, or up to 7x points when you use the Brex card exclusively. Multiple ways to redeem, including travel, gift cards and statement credit. Rewards values vary by redemption type.

Sign-up bonus

None.

Get 10,000 points when you spend your first $1,000 on your Brex card, another 10,000 when you spend $3,000 in 3 months on your card, and 20,000 more when you link payroll to your Brex account.

Eligibility

Minimum bank balance of $75,000. You must connect a business bank account to your Ramp card.

With professional investors: Minimum bank balance of $50,000. You must connect a business account to your Brex card.

Self-funded: Minimum balance of $100,000.

Integrations

Yes.

Yes.

Spending controls

Yes.

Yes.

Why you might want a different card

Requires business account balance of at least $75,000

You need at least $75,000 in a business bank account to qualify for a Ramp corporate card. That’s a high bar for companies to clear, especially startups without outside funding. Unlike the Brex Card, which requires professional investors unless you have at least $100,000 in the bank, Ramp does not require professional investors to qualify.

Unable to carry a revolving balance

Ramp is a charge card, so your balance must be paid in full each month. To ensure this, companies connect a business bank account during the application process. Your card balance is automatically debited from your business account on the same day each month.

Are you looking to finance a larger purchase? Consider a business credit card with a 0% APR intro period, so you can pay it off over 12 to 15 months without incurring interest charges.

Sole proprietors and unincorporated businesses don’t qualify

The Ramp Card is available only to registered, incorporated businesses: corporations, LLCs and limited partnerships. Individuals, sole proprietors and unregistered businesses cannot apply, making Ramp inaccessible to the vast majority of small-business owners in the United States.

Should you get the Ramp Card?

Ramp is worth a look if your business has strong financials and you can’t (or don’t want to) get a business credit card on the merits of your personal credit history. While Ramp’s simple rewards structure is appealing, the Brex Card offers more opportunities to earn and redeem points, if you opt to use it exclusively.

Business owners with strong personal credit can access more perks with some traditional business credit cards. See our roundup of the best small-business credit cards for more potential options.

on Ramp's website