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Well, 2% on some things + 1% on everything else is better than I am getting with Amex now. Plus, $50k in free processing is like $1,450 in free money. Honest
by ttcbj 7y ago
Well, 2% on some things + 1% on everything else is better than I am getting with Amex now. Plus, $50k in free processing is like $1,450 in free money.
Honestly, I wouldn't believe that deal, except that I have a multi-year history with stripe as our CC processor and it has been nothing but positive and as-promised.
So, I submitted an application. It sounds like a great deal to me.
- kuu 7y agoYour message couldn't look more as a PR comment. Maybe it's true, but it feels like an ad.
- ttul 7y agoI’d say the same thing. I’m not a shill. Have processed millions with Stripe and there has never been a glitch.
- gzer0 7y agoI kind of have to agree. Not saying it is false or denying the actual premise of the OP. Just saying it feels personally to ME, very PR like and included for those reasons alone as a top comment here on HN.
- anthonybsd 7y agoUghh, almost every card for individuals with good credit is better than that [1]. Unless you mean strictly among corporate cards? [1] https://www.nerdwallet.com/best/credit-cards/cash-back https://www.nerdwallet.com/best/credit-cards/cash-back
- privateSFacct 7y agoDo these cards require a personal guarantee? Do they require personal social security number? Can they be ordered in bulk (ie, 5-10 at a time when onboarding folks). Not to be rude, but the corporate card market is different than the personal card market in a number of ways.
- myalphabet 7y agoWait, how do these cards work, then? The corporate cards I've used (eg AmEx Corporate) did indeed require a personal guarantee and a personal social security number from each individual who had an account.
- ceejayoz 7y agohttps://stripe.com/docs/corporate-card/faqs https://stripe.com/docs/corporate-card/faqs > Am I personally liable for purchases made on the card? > No. Only your business is liable for purchases made on the card.
- sudhirj 7y agoThat seems really odd. The employees who have these cards are often expected to spend multiple times their yearly salary on company business. Personal guarantees simply wouldn’t work.
- Aeolun 7y agoIt’s certainly the case for my company card. I wouldn’t be able to pay off the cost faster than I add new expenses.
- nirvdrum 7y agoThe last place I was at did it that way. I imagine it was to incentive early expense reports, otherwise you were stuck paying the bill. Also protects the employer if the expense isn't legitimate. But, it was pretty stressful as an employee.
- tempsy 7y agoAmerican Express has both "Business" and "Corporate Business Cards." The "Business" ones require a personal guarantee. For some color, I've signed up for multiple Amex Business cards in the past as a "sole proprietor" even though I was really just churning the cards for the rewards. You just input your SSN for the EIN. The Corporate Amex cards don't require a personal guarantee.
- astura 7y agoUm the GP is talking about credit card purchases for their business, not their personal expenses.
- jdlyga 7y agoUber Visa gets you 4% on dining, 3% on hotels and airfare, 2% for online purchases, and 1% on everything else. It's not a corporate card, but it's hard to beat those rates.
- ianhawes 7y agoThe Uber Visa card also includes up to $50 in credits for popular recurring services, including Netflix, Hulu, Apple Music, Sirius, and others.
- rurounijones 7y ago> It's not a corporate card So invalid as a comparison to a corporate card.
- koolba 7y agoThat’s a pretty good rewards rate and there’s no annual fee. Reading up a bit, you don’t have to spend it as Uber fun bucks either. You can claim the rewards as cash.
- astura 7y agoThe Uber card has almost nothing to do with Uber (the company) and their services, they are just the co-brand partner on the card. (So they get a kickback on card activities). I mean, you get a higher cash back rate from taking the flight than you do from the Uber ride to the airport. Usually company cobranded cards (ex. airlines, hotels) are tightly tied with that company's services, Uber seemed to just want to make a good credit card that people would like to use often, which is unique. However, it's a personal card, completely different market than corporate cards, so not comparable.
- cullenking 7y agoI push all our spending through a 2% cash back capitalone business visa. Can't find a better cashback rate, though you could run multiple cards through different vendors with their own credit cards, but you get diminishing returns. If you are a big amazon spender (products, not AWS), it makes sense to do an amazon visa, and then the capital one for everything else. It's really easy to believe the deal when you look at your interchange rates. The Capital One that I mention above has 2.3% interchange rate, so the merchants who take it get hit much harder than other cards. Capital One, stripe, amex etc are all still making a killing on these cards, they just do it on the backs of the merchants who accept them. Based off our business spending on our card, which isn't extreme by any measures (18 employees, bootstrapped and cash flow positive, doing fairly decent), it probably beats that stripe card even with the processing fee bump.
- lastofus 7y agoA warning for using the Amazon visa: their record retention is horrible. I had to call in and talk to someone for them to send me a paper statement for charges from the previous year when doing taxes. Their export for current records is also terrible last I checked. It's basically terrible for any sort of accounting. As a small business owner, it wasted hours of my life for no good reason.
- peternicky 7y agoNot sure which card you are referring to. I’ve had the amazon chase visa for over 10 years and have no problem pulling up my records.
- brogrammernot 7y agoThere’s literally no risk for them. It’s yet another vertical business that isn’t addicted to the fees and they know you’re going to continue to use them for payment processing so the CAC for a corporate customer at ~$1500 or so is dirt cheap for the LTV that they(you) provide.
- nimish 7y agoThe entire cc industry is addicted to the processing fees and everyone else pays for it with higher prices.
- jasonsync 7y agoAs long as they don't renege later. Every single cash back card I have jumped on board with started with 2% ... changed the terms a year in to 1% ... then went down to 0.5% even later. And increased fees later as well. Maybe just bad luck on my part. For example: https://www.reddit.com/r/PersonalFinanceCanada/comments/616482/fyi_tangerine_credit_card_changes_increase_fees/ https://www.reddit.com/r/PersonalFinanceCanada/comments/6164...
- ceejayoz 7y agoCanada has been capping interchange fees. 1.5% in 2015, 1.4% last year. They're the main way the card issuers pay for the rewards, so it makes sense that as they get limited the rewards go away.
- graeme 7y agoOh. Why do stores still refuse amex then? Are visa and mastercard going below the cap on their high end cards?
- ceejayoz 7y agoThe agreement was apparently just with Visa/MasterCard, and Amex works differently there, it seems. https://www.bloomberg.com/news/articles/2018-08-09/visa-mastercard-amex-agree-to-trim-interchange-fees-in-canada https://www.bloomberg.com/news/articles/2018-08-09/visa-mast... > Visa Inc. and Mastercard Inc. agreed to cut Canadian credit-card transaction fees in a move that could save smaller businesses C$250 million ($192 million) a year and crimp revenue for Canadian lenders. > American Express Co. agreed separately to support “objectives of greater fairness and transparency," the government said. AmEx doesn’t operate on an interchange model for its fees. The New York-based company remains “committed to improving the fairness of the Canadian credit card ecosystem,” company spokesman David Barnes said in an email.
- willyg123 7y agoIf you fly, ever, business gold AmEx cannot be beaten. 4x points on the first $150k spent on two categories of your choice. Then, 25% off(!) flights booked with points at AmExTravel.com. I will definitely be getting the Stripe card because the intro offers are so good. But, the airfare discounts alone at AmEx Travel are so good it will continue to be my go-to corporate card.
- tempsy 7y agoThe major difference between Brex/Stripe card and typical business cards on the market whether or not there's a personal guarantee.
- graeme 7y agoDoes that apply on the corporate version, here? https://www.americanexpress.com/us/credit-cards/business/corporate-credit-cards/american-express-corporate-gold-card-amex https://www.americanexpress.com/us/credit-cards/business/cor... I'm not super clear on the difference between business cards and corporate cards.
- OkGoDoIt 7y agoI’ve had to use AMEX travel several times to book flights for business reasons, and it’s always substantially more expensive than I could get if I booked it myself. Even with 25% off I’m still not certain it’s a good deal. Edit: just realized you were referring to booking with points. In that case it gets a little more hazy, who knows what the value is really worth there. But I definitely have a negative opinion of Amex travel and will avoid them if possible, at this point I just assume they’re giving me a bad deal
- Qworg 7y agoWe're a happy Brex customer, but we'll definitely run the numbers. I think it really depends on what kind of startup you are.
- TAForObvReasons 7y agoAs paranoid as it sounds, it's a bad idea to pin so much of your business to one vendor / service provider. If they decide to ban you, you aren't just locked out of payment processing but also the other services. For the same reason, I wouldn't use Stripe Atlas (their company formation solution) or other services.
- newhotelowner 7y agoCapital one Spark has 2% cashback on everything. Combine that with Chase Ink which gives you 3% cashback on office supply, cable/internet bills.