Ramp Card Review: Unleash Cash Flow, Reap Rewards

The Ramp Card is a distinctive choice for incorporated businesses prioritizing straightforward rewards and financial efficiency.

Features

• Annual Fee: $0, promoting cost-saving from the get-go.
• Rewards: Earn an unlimited 1.5% cash back on all purchases, with no caps or categories to track.
• Credit Check: None required, focusing on business revenue and cash flow instead of personal credit history.
• Application Requirements: EIN, business bank account with a minimum balance of $75,000, and incorporation documents.

Benefits

• Simple Rewards: The uncomplicated 1.5% cash back on every purchase eliminates the hassle of managing spending categories.
• No Personal Guarantee: Business owners aren't personally liable, as Ramp evaluates business financials for eligibility.
• Tool Integrations: Direct connections with leading business software like QuickBooks and Slack streamline operations.
• Spending Controls: Customize card use with spending limits and alerts, enhancing expense management.

Drawbacks

• High Eligibility Threshold: A $75,000 business bank account balance requirement may exclude smaller enterprises.
• Charge Card Nature: Full balance payment is mandatory monthly, limiting flexibility for businesses seeking credit terms.
• Limited Accessibility: Sole proprietors and unregistered businesses cannot apply, narrowing the card's reach.

Product Summary

The Ramp Card is a revolutionary tool for incorporated businesses. It offers a blend of cash-back rewards and operational conveniences without needing a personal guarantee or credit check. Its eligibility criteria centered on business financial health make it a viable option for entities with substantial cash flow yet possibly inaccessible for smaller ventures. Despite lacking a traditional credit line, its financial management features and integrations are valuable for optimizing business spending and maximizing cash-back returns.