Key takeaways
- No personal guarantee on any of the three cards.
- Mercury IO: flat 1.5% cash back on all spend; free account, paid plans from about $35 a month.
- Ramp: up to 1.5% cash back (reported as variable); free plan, Ramp Plus $15 per user a month.
- Brex: category points; Essentials free, Premium $12 per user a month billed annually; owned by Capital One since April 2026.
- Foreign spending matters: Mercury is reported to charge 3% on non-USD purchases.
How we compared Ramp, Brex and Mercury
Treasi compared the three corporate cards most often considered by US startups using each provider’s published card and pricing pages and recent independent pricing reviews, checked in November 2026. We looked at rewards, software plans and fees, personal liability, eligibility, foreign spending and bill-pay costs. Where providers don’t publish a figure, such as exact eligibility thresholds, we say so. Terms change, so confirm with each provider before you apply.
Ramp vs Brex vs Mercury at a glance
| Ramp | Brex | Mercury IO | |
|---|---|---|---|
| Card type | Corporate charge card | Corporate charge card | Corporate charge card |
| Personal guarantee | Not required | Not required (company is liable) | Not required, no personal credit check |
| Rewards | Up to 1.5% cash back (reported as variable, 0%–1.5%) | Points by category, about 1x base and higher on categories like rideshare and travel | Flat 1.5% cash back on all spend |
| Annual card fee | $0 | $0 | $0 |
| Software plans | Free; Ramp Plus $15 per user a month ($12 billed annually) plus a platform fee | Essentials free; Premium $12 per user a month billed annually ($15 monthly); Enterprise custom | Free account; Plus about $35 a month, Pro about $350 a month (discounts on annual billing) |
| Eligibility | Corporations, LLCs and LPs with $25,000+ in a US business bank account | Set by company type, finances and growth; reported minimum balances vary | Mercury business account required |
| Foreign spending | $0 foreign transaction fee (reported) | Check terms; reviews report a markup on non-USD spend | 3% on non-USD card purchases (reported) |
| Bill pay | Standard ACH $0.59 and checks $1.99 since June 2026 | No Brex platform fee on bill pay (intermediary bank fees may apply) | Bill pay included |
| Ownership | Independent | Part of Capital One since 7 April 2026 | Independent; card issued by Patriot Bank |
What a startup would actually pay and earn
Take a US startup spending $40,000 a month on cards with 10 people using expense software, plus $5,000 a month of that spend in foreign currencies.
| Ramp | Brex | Mercury | |
|---|---|---|---|
| Rewards on $480,000 a year | Up to about $7,200 at 1.5% | Depends on category mix and redemption | About $7,200 at 1.5% |
| Software on the free plan | $0 | $0 | $0 |
| Software on the main paid plan | About $1,800 a year (10 × $15, plus a platform fee) | About $1,440 a year (10 × $12, annual billing) | About $420 a year (Plus) |
| Foreign spending ($60,000 a year) | No foreign transaction fee reported | Check terms | About $1,800 in conversion fees vs $900 cash back earned on it |
The free plans are enough for many early-stage teams. Paid plans pay off when you need advanced approval workflows, ERP integrations or more reimbursement users.
Ramp: best for free spend-management software
Ramp’s free plan includes unlimited cards, expense management, receipt matching and bill pay, which is why many startups choose it as their default. Its cash back is up to 1.5%; Ramp’s terms describe rewards at a rate it determines, and independent reviews report a range of 0% to 1.5%, so check the rate you’ll earn. You need a corporation, LLC or LP with at least $25,000 in a linked US bank account. Ramp introduced small bill-pay fees in June 2026, including $0.59 per standard ACH payment.
Brex: best for points and global teams
Brex pays points by category rather than flat cash back, which can be worth more for businesses that spend heavily on travel, rideshare or software and redeem through its travel portal. Essentials is free, and Premium adds custom policies, automated approvals and travel booking for $12 per user a month on annual billing. Brex doesn’t require a personal guarantee or a hard personal credit pull; the company is liable for the card. Brex became part of Capital One on 7 April 2026; pricing was reported unchanged after the deal.
Mercury IO: best for simple cash back with your bank account
Mercury’s IO card pays an unlimited 1.5% cash back on all spend, deposited automatically when you pay your balance, with no points to manage. It sits inside a free Mercury business account, which makes it simple for startups that bank with Mercury. Paid plans add recurring invoicing, more reimbursements and a relationship manager. Watch foreign spending: Mercury is reported to charge 3% on non-USD card purchases, which outweighs the 1.5% cash back on those transactions.
Which should you choose?
Choose Mercury if you want one account for banking and cards, simple flat cash back, and you mostly spend in US dollars.
Choose Ramp if you want the most capable free spend-management software and you hold at least $25,000 in the bank.
Choose Brex if your spending is concentrated in categories where its points earn more, or you need global spend features, and you’re comfortable with points rather than cash back.
What to check before you apply
- Your real rewards rate: Ramp’s rate is variable and Brex’s depends on categories.
- Seat costs: paid plans are priced per user or per month.
- Foreign spending: compare conversion fees if your team spends outside the US.
- Eligibility: minimum balances and entity types.
- The card agreement: confirm the company, not you, is liable.
Common mistakes
- Comparing headline cash back without checking whether the rate is guaranteed.
- Paying for a premium plan before you need its features.
- Running foreign ad spend through a card with a conversion fee higher than its rewards.
- Assuming every corporate card skips the personal guarantee; bank business cards usually require one.
Providers that can help
Compare these providers, then request a free, no-obligation quote.
Flat 1.5% cash back with a free business account
1.5% Cashback
Free spend-management software, up to 1.5% back
Up to 1.5% Cashback
FAQs
Which is better for startups: Ramp, Brex or Mercury?
It depends on your needs. Mercury suits startups wanting simple 1.5% cash back with their bank account; Ramp suits teams wanting strong free spend-management software with $25,000+ in the bank; Brex suits teams whose spending earns more as category points.
Do Ramp, Brex and Mercury require a personal guarantee?
No. All three state that no personal guarantee is required. Brex’s card terms make the company liable, and Mercury’s IO card involves no personal credit check.
How much cash back does Ramp pay?
Up to 1.5%. Ramp’s terms describe rewards at a rate it determines, and independent reviews report a range of 0% to 1.5%, so check the rate for your account.
How much does Brex cost?
Brex Essentials is free. Premium is $12 per user a month on annual billing, or $15 month to month, and Enterprise is custom-priced. The card has no annual fee.
Does Mercury charge foreign transaction fees?
Independent reviews report a 3% conversion fee on non-USD card purchases, which is more than the 1.5% cash back on those purchases. Check Mercury’s current terms if your team spends abroad.
What do I need to qualify for Ramp?
A US corporation, LLC or LP with at least $25,000 in a linked US business bank account.
Who owns Brex?
Brex became part of Capital One on 7 April 2026. Pricing was reported unchanged after the acquisition.
Sources: Ramp, Brex and Mercury published card and pricing pages; mercury.com IO card page; independent pricing reviews (November 2026); Treasi card database.