7 ms·

Okay. We don’t have a credit card right now, only debit. For small businesses doing high reward credit cards is not a sustainable business. Which is why Brex i

by immad 4y ago

Okay. We don’t have a credit card right now, only debit. For small businesses doing high reward credit cards is not a sustainable business. Which is why Brex is shutting them down.

eins1234 4y ago
That's totally understandable, for the small business segment. I was just saying that for a VC-backed tech startup, the lack of rewards is a huge turn-off, compared to some of the other options for spending available to us.
- sebmellen 4y ago
  I don’t know of many banks that offer high reward debit cards. IMO Mercury has almost perfected the banking experience, and I am perfectly happy with that. If I want a high-reward card I’ll get an Amex Platinum (a credit/charge card) and stick with Mercury as my bank.
  - eins1234 4y ago
    That's a perfectly valid choice! FWIW, I actually do like Mercury's UX marginally better than Brex. I would just prefer to have my banking and spending in 1 place, and if I did that with Mercury, I'd be sacrificing 1%+ rewards, which I would not consider a financially responsible option when Brex exists and has a good enough banking experience. Wouldn't it be nicer for everybody if there were more options that had both a great banking experience and credit-level rewards that all competed for our business? That's all I was trying to encourage with my feedback, but the fanboyism in this thread has proved to be too strong for that message to get through.
    - sebmellen 4y ago
      Personally I would much prefer to keep my banking (cash storage) separate from my credit. To me, it is nice to have a barrier between the two. This way, your credit provider won't randomly decide to shut you out of your bank because you're too small! I see your point, but I am not of that opinion.
- immad 4y ago
  Agreed. We would need a credit card to target that spend. Appreciate the feedback.

7 ms·

Okay. We don’t have a credit card right now, only debit. For small businesses doing high reward credit cards is not a sustainable business. Which is why Brex i

by immad 4y ago

Okay. We don’t have a credit card right now, only debit. For small businesses doing high reward credit cards is not a sustainable business. Which is why Brex is shutting them down.

eins1234 4y ago
That's totally understandable, for the small business segment. I was just saying that for a VC-backed tech startup, the lack of rewards is a huge turn-off, compared to some of the other options for spending available to us.
- sebmellen 4y ago
  I don’t know of many banks that offer high reward debit cards. IMO Mercury has almost perfected the banking experience, and I am perfectly happy with that. If I want a high-reward card I’ll get an Amex Platinum (a credit/charge card) and stick with Mercury as my bank.
  - eins1234 4y ago
    That's a perfectly valid choice! FWIW, I actually do like Mercury's UX marginally better than Brex. I would just prefer to have my banking and spending in 1 place, and if I did that with Mercury, I'd be sacrificing 1%+ rewards, which I would not consider a financially responsible option when Brex exists and has a good enough banking experience. Wouldn't it be nicer for everybody if there were more options that had both a great banking experience and credit-level rewards that all competed for our business? That's all I was trying to encourage with my feedback, but the fanboyism in this thread has proved to be too strong for that message to get through.
    - sebmellen 4y ago
      Personally I would much prefer to keep my banking (cash storage) separate from my credit. To me, it is nice to have a barrier between the two. This way, your credit provider won't randomly decide to shut you out of your bank because you're too small! I see your point, but I am not of that opinion.
- immad 4y ago
  Agreed. We would need a credit card to target that spend. Appreciate the feedback.