Our Take
2.8
The bottom line:
More details from Ramp
- No annual fee or foreign transaction fees.
- No personal credit check or personal guarantee required.
- Issue unlimited virtual cards and physical cards for each employee.
- Prevent out-of-policy spending with built-in controls, including spend restrictions by category or merchant.
- Ramp is a corporate charge card powered by Visa. Businesses are required to pay the monthly balance in full by each statement period.
- Must have at least $50,000 in cash in any U.S. business bank account to qualify.
- Must have most of your operations and corporate spend in the US (although Ramp does support international transactions and will waive all related transaction fees).
- Ramp is only available to corporations, LLCs and limited partnerships. Individuals, sole proprietorships and unregistered businesses are not eligible.
Pros & Cons
Pros
- No annual fee or foreign transaction fees
- 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
- Not available to sole proprietors or unincorporated businesses
- Rewards rate varies and is determined for each customer by Ramp.
Compare to Other Cards
at Ramp | at Chase | at American Express |
Annual fee $0 | Annual fee $95 | Annual fee $0 |
Regular APR N/A | Regular APR 21.24%-26.24% Variable APR | Regular APR 17.99%-25.99% 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 300850poor - excellent | Recommended credit score 690-850good - excellent | Recommended credit score 690-850good - excellent |
Full Review
Key features
- 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.
Ramp business card requirements
- 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.
Why you might want the Ramp Card
Available without a personal guarantee, credit check
Ramp vs. Brex
Ramp Card | ||
---|---|---|
Rewards | Reward rate varies by customer and is determined by Ramp. Rewards can be redeemed for statement credits, airline or hotel loyalty points, or gift cards. | 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 $3,000 on a Brex Card within your first 3 months. |
Eligibility | Minimum bank balance of $50,000. 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 $1 million. Businesses that don't meet these requirements may qualify for Brex Card with daily payments. |
Integrations | Yes. | Yes. |
Spending controls | Yes. | Yes. |
Why you might want a different card
Requires business account balance of at least $50,000
Unable to carry a revolving balance
Sole proprietors and unincorporated businesses don’t qualify
Should you get the Ramp Card?
on Ramp's website