Costs & Pricing

Metric	Brex Card	Capital One Venture Business
Annual fee	$0 published for the card. Software is separate: Essentials $0/user/mo; Premium $12/user/mo; Enterprise/Smart Card custom. Do not treat Premium as a card AF unless the company elects that plan.	$95 (no first-year waiver on Venture Business). Legacy Spark Miles was $0 intro year 1, then $95 — do not use that waiver in a 2026 new-applicant calculator.
Employee card fee	$0; unlimited physical + virtual cards advertised	$0
Purchase APR	N/A — charge card, pay in full. Marketing “0%” is charge-card float (daily ~1 business day after clear, or ~30-day monthly statement), not an intro APR.	24.49% variable (marketing page shows a single rate, not a range). Review-captured terms: Prime + 17.74%; updates quarterly. Confirm whether 24.49% is universal or representative.
Intro APR (purchases)	Not offered	Not offered
Foreign transaction fee	Marketing: no FTF. Official: FX rate markup of up to 3% on conversions (Mastercard wholesale, adjusted daily). Local-currency cards can avoid conversion on local spend.	$0
Late payment fee	2.99% of delinquent balance or $38, whichever is higher, assessed once per statement that is 30 days past due (Card Program Terms, Apr 7, 2026)	Up to $39 (captured Capital One account-terms / review Schumer boxes)

Rewards & Value

Metric	Brex Card	Capital One Venture Business
Base earn rate	1x on everything else under Exclusive (1 point per $1 USD spend with a U.S.-based merchant). All customers enrolled in Exclusive unless the contract says otherwise. No published category caps. Non-Exclusive / second-card path may be flat 1x — source conflict with 2026 reviews; confirm on the live contract.	Unlimited 2 miles per $1 on every purchase. No category tracking, no published annual cap. Same earn structure on legacy Spark Miles and live Venture Business.
Welcome bonus	$1,000 USD statement credit after ≥$4,000 Qualifying Spend within 30 days of activation. Apply, be approved, and activate (first purchase) Sep 1–30, 2026 (legal offer revised Aug 10, 2026). Re-check Oct 1. Review sites still print 10,000 points after $3,000 in 3 months — not found as a current dated legal page.	Live Venture Business (Sept. 3, 2026): 100,000 miles after $10,000 in first 3 months. Product-page footnote: may not be available for existing or previous Capital One Business card holders. Offer expiration date not dated on the live product page.
Redemption value	Brex Travel portal: 1 point = 1¢. Cash to Brex business account or statement credit: 1 point = 0.6¢ (admin must claim). Headline 7x rideshare is 4.2% cash only if Exclusive + cash path. Do not use 1¢ for cash.	Issuer marketing treats miles as 1¢ each for Capital One Business Travel and cover-travel redemptions (request within 90 days). Cash/gift-card value is lower and varies / subject to change (business FAQ). Do not assume 1¢ for cash. Transfers not assumed unless the user picks a partner.
Transfer partners	Emirates Skywards, Avianca LifeMiles, Singapore KrisFlyer, Air France-KLM Flying Blue, Aeromexico Club Premier, Cathay Asia Miles, Qantas Frequent Flyer at ~1,500:1,000. Crypto (BTC/ETH) appeared in older guides at 0.6¢ — not on the current official redeem page.	Official partner article (Jan. 29, 2026) — 1:1 airlines: Aeromexico Rewards, Air Canada Aeroplan, Avianca LifeMiles, British Airways Club, Cathay Pacific Asia Miles, Etihad Guest, Finnair Plus, Flying Blue (Air France-KLM), Qantas Frequent Flyer, Qatar Privilege Club, Singapore KrisFlyer, TAP Miles&Go, Turkish Miles&Smiles, Virgin Red. 2:1.5: Emirates Skywards, EVA Air, Japan Airlines Mileage Bank. 5:3: JetBlue. Hotels: Choice Privileges 1:1, Wyndham Rewards 1:1, I Prefer 1:2, Accor Live Limitless 2:1. Miles do not expire while the account is open; may be lost if closed. Minimum transfer not disclosed on that article (third parties often cite 1,000-mile increments).

Credit & Eligibility

Metric	Brex Card	Capital One Venture Business
Personal guarantee	Not required in Brex marketing. Card Program Terms assign liability to the Company. Confirm the live issuer agreement at approval (Emigrant vs Fifth Third vs other).	Required in ordinary Capital One small-business underwriting. Card-specific agreement sentence not disclosed in a public PDF located this run. Application collects SSNs of all business owners.
Credit check	Brex states SSN is for identity verification and is not used to underwrite or pull personal credit. No advertised personal hard pull.	Hard pull on apply is the industry-standard Capital One path; pre-approval tool is marketed as no impact on personal score. Whose credit: owners whose SSNs are submitted.
Employee cards	One employee card (physical or virtual) per user plus unlimited purchasing/virtual cards. Spend limits, merchant locks, policies, Apple/Google/Samsung Pay. Company liable. Auto-reissue on expiry.	Free; individual limits; receipts/notes in Expense Management; same 2X earn per marketing.
Product type	Corporate / commercial charge card plus spend-management platform (pay-in-full daily or monthly; not revolving; no published purchase APR)	Revolving business credit card with a fixed credit line (not NPSL; not a charge card). Capital One contrasts this with Venture X Business and Spark Cash Plus (pay-in-full / NPSL).

Pros & Cons

Brex Card

Pros

• No personal guarantee and no advertised personal credit pull; company is the obligor
• $0 card annual fee and unlimited employee/virtual cards on Essentials
• Exclusive category points with no published earn cap; Brex Travel portal at 1¢/pt
• Native expense controls, virtual/vendor cards, and accounting integrations
• Local-currency cards in 50+ countries (plan-dependent); business-bureau reporting without personal-credit reporting (per Brex)

Cons

• Charge card: no revolving APR, no 0% working-capital window; late fee 2.99% or $38 after 30 days past due, plus possible 10% workout fee
• Sole props ineligible; funded startups commonly ~$50k cash; commercial revenue floors are messy
• “No FTF” marketing vs up to 3% FX markup
• Cash redemption 0.6¢/pt; airline transfers 1,500:1,000; Exclusive/contract multipliers are easy to misread
• Dynamic limits can fall with cash; Capital One ownership may change terms

Capital One Venture Business

Pros

• Unlimited 2X miles with no category caps, plus 5X on Capital One Business Travel hotels/cars and 15+ transfer partners
• $0 FTF and free employee cards
• $50 travel + $50 ads/software credits can offset the $95 fee if used
• Global Entry/TSA PreCheck up to $120 every 4 years
• Live 100,000 / $10,000 / 3-month bonus is richer than the last Spark Miles 50k / $4,500 offer

Cons

• $95 fee with no year-1 waiver on the live SKU
• No 0% intro APR; BTs not available; purchase APR 24.49% variable
• No lounge access; 5X travel is portal hotels/cars only — not flights, not direct bookings
• Ads/software credit is MCC-fragile
• Spark Miles closed; existing holders must re-apply (no product change) to get new credits and may lose the bonus

Verdict

Brex Card

Brex is a charge-card ops platform owned by Capital One as of April 7, 2026 — not Spark, not Ramp’s Visa SKU, and not a revolving bank card. Pick it for no-PG underwriting and policy tooling. Do not assume 1¢ cash, a guaranteed 7x, or true $0 FX. Sole props, revolvers, and simple 1.5–2% cash shoppers should use a traditional PG card or Ramp if the cash bar fits. The Sep 2026 $1,000 / $4,000 / 30-day credit expires Sep 30 — re-check Oct 1.

Capital One Venture Business

New applicants see Venture Business, not Spark Miles. Existing Spark Miles accounts stay on the old product ($0 year-1 then $95; GE/PreCheck only among this pair’s credits; no $50 travel or ads/software unless they separately apply). Do not mix with VentureOne (1.5X, $0) or Venture X Business ($395, NPSL, lounges). Skip it for 0% float, no-PG underwriting, or anyone who will revolve at 24.49%.