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1 - chase will require a personal guarantee, what that means is that you’re personally responsible for the credit card. Your ssn is on the line. With Brex, we u
by hdubugras 8y ago
1 - chase will require a personal guarantee, what that means is that you’re personally responsible for the credit card. Your ssn is on the line. With Brex, we underwrite your company.
2 - our credit algorithm is actually very different and the limit changes according to your bank balances.
3 - it’s actually a credit card (technically a charge card), so it has all the protections of a standard credit card, people dont have access directly to your balance like a debit card.
Does that make sense?
- jeffwass 8y agoOut of curiosity, what happens in the unfortunate case of a startup closing shop while still carrying a Brex balance? Ie, does Brex have some legal senior debt-holder claim against the company’s assets? And what happens to the personal credit history of the founders, does it remain untarnished since they were never personally responsible?
- hdubugras 8y agoWe don’t allow people to carry a balance, it’s technically a charge card. Personal history is never toched
- barbegal 8y agoWhat are the benefits over a prepaid credit card?