Ramp Card review: Earn rewards and save time

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Pros Cons
Integrations and built-in features could save time and money Not all businesses can qualify
Receive partner rewards and earn cash back on all purchases It’s a charge card that doesn’t let you revolve a balance
Fee-free option available Card limits depend on amount of cash in your linked business bank accounts
No personal guarantee required

What to know about the Ramp Corporate Card

It isn’t a small-business credit card

The Ramp Corporate Card and its platform are designed for small- to medium-sized businesses, but it’s not a traditional small-business credit card. To qualify for an account, you must have the following:

  • A corporation or limited liability company (LLC) that’s registered in the U.S.
  • At least $250,000 in a U.S. business bank account
  • If you are an international company, most of your operations and corporate spending must be in the U.S., and you need to have a physical presence in the U.S.

As a charge card, the Ramp Corporate Card doesn’t allow you to revolve a balance — you must pay your balance in full each month. That means you won’t be able to use the card as a way to finance your business expenses.

But unlike many small-business credit cards, the Ramp Corporate Card doesn’t require a credit check or a personal guarantee. As a result, your personal credit and finances likely won’t be affected by using the card for your business.

You can earn rewards and save money

There are several ways that Ramp could help your business save money.

  • 1.5% cash back on all eligible purchases — The flat-rate cash back rewards are easy to understand and use, though other corporate cards that offer bonus rates in certain categories may be more rewarding. Cash back can currently be redeemed as a statement credit.
  • Partner rewards — Ramp partners with popular business service providers for discounts, credits and sign-up offers.
  • Ramp Savings Insights — The Ramp platform automatically analyzes your business’s transactions to recommend ways to save money. For example, it may find duplicate subscription payments from different employees or lower-cost options for your SaaS services.

No card fees, but three subscription tiers

Many small-business cards come with a variety of fees to consider, like annual fees or extra costs for adding multiple employee cards to the same account. But Ramp has no card-related fees.

That doesn’t mean the Ramp Corporate Card is always free to use, though. In addition to being a corporate card with a cash back rewards program, Ramp aims to differentiate itself from competitors as a “spend management platform.”

When you use the Ramp platform, you’ll have access to three subscription options and one add-on feature.

  • Essential plan (free) — The base-level plan includes the Ramp card and most of the platform’s features, like rewards and savings insights.
  • Platform plan ($7 per user per month) — Upgrading to the Platform level unlocks category-specific spending controls, multi-step spending request approvals, Slack integration, vendor management and an audit trail.
  • Enterprise (custom pricing) — The Enterprise plan adds a dedicated account manager, quarterly spending audits and a Ramp negotiator who will try to get you better deals with vendors.
  • Add-on reimbursement feature ($5 per user per month) — Though not yet available to all users, this feature lets you manage employee reimbursements for expenses within the Ramp platform. The feature will eventually cost $5 per user in a billing period.

More details about the Ramp Corporate Card

Here’s some more info that could help you decide if the Ramp Corporate Card is right for your business.

  • You get unlimited users and virtual cards. You can get up to one physical card per user for free, and an unlimited number of virtual cards.
  • Your bank balance can affect card limits. Ramp considers your business’s liquid assets, debts, spending patterns and monthly needs to determine your overall spending limit. Based on that data, the limit might even change daily.
  • The card has a 30-day billing cycle. As a charge card, you can’t revolve your Ramp Corporate Card’s account balance. Your account’s 30-day billing cycle begins with your first transaction, and then your balance is due in full every 30 days.

Who this card is good for

The Ramp Corporate Card and platform may be a good fit for small- and medium-sized companies that are looking for simple cash back or a handy way to improve their expense tracking and reimbursement systems.

It may be especially good if your business only needs the Essential tier of the Ramp platform, which can help you earn rewards and get unlimited employee cards without paying any fees. Switching to a higher subscription tier may make more sense as your business grows or becomes more complicated, but even the free plan includes many features meant to save your business time and money.

Not sure this is the card for you? Consider these alternatives.

If you’re looking for an alternative corporate card or a small-business credit card, here are some other cards you might want to consider.


About the author: Louis DeNicola is a personal finance writer and has written for American Express, Discover and Nova Credit. In addition to being a contributing writer at Credit Karma, you can find his w… Read more.