Does Brex Report to Credit Bureaus

Does Brex Report to Credit Bureaus?

Brex reports your account activity to commercial credit bureaus like Dun & Bradstreet and Experian, helping you build business credit. Personal credit reporting is generally avoided unless your account enters default. For the most precise details on what is shared, it's best to contact Brex support directly.

Several key events trigger reporting to these bureaus:

• Monthly Statements: Your balance and payment status are reported to commercial bureaus after each monthly statement closes.
• Late Payments: Payments more than 30 days overdue are reported, potentially harming your business credit score.
• Account Opening: A new tradeline is established on your business credit report when you open an account.
• Account Default: Brex may report to personal credit bureaus if your account enters default as per its terms.

Who Does Brex Report Credit Information to?

Brex reports your company's financial activity to the following credit bureaus:

• Dun & Bradstreet
• Experian
• Personal credit bureaus (in cases of account default)

When does Brex Report to Credit Bureaus?

Brex doesn't adhere to a fixed schedule for reporting to credit bureaus. Instead of a set monthly date, reporting is initiated based on a variety of individual factors and specific account triggers. Consequently, there's no one-size-fits-all answer for when your activity will be reported; it depends entirely on your unique account usage and other determining elements.

How Reporting Can Affect Your Credit Score

Positive impact

• Consistent, on-time payments build a strong payment history, the most heavily weighted factor in both FICO and VantageScore credit scoring models.
• For new businesses, this reporting establishes a credit file with major bureaus, creating a foundational credit history where none existed before.

Potential negatives

• Any late or missed payments are reported to credit bureaus, which can quickly and significantly damage your business's credit score.
• Carrying a high balance could negatively affect your credit utilization ratio, a key component that scoring models use to assess risk.
• Defaulting on your account will result in a severe negative mark on your credit report, impacting your ability to secure future financing.

Tips for Managing Credit with Brex

Effectively managing your Brex account is key to maintaining financial health. Here are several actionable tips to help you stay on top of your business credit.

• Monitor spending closely: Regularly check your Brex dashboard to track expenses in real-time. This helps you stay within budget and prevent any unexpected overspending on your account.
• Pay your balance on time: Brex requires daily or monthly payments. Ensure you have sufficient funds in your linked account to cover your balance and maintain a positive history.
• Set employee spending limits: Utilize Brex’s features to set custom spending limits for employee cards. This is a simple way to control company-wide expenses and prevent unauthorized purchases.
• Categorize your expenses: Use Brex's automatic expense categorization and receipt matching to streamline your bookkeeping. This simple step makes tax season significantly less of a headache for your business.
• Leverage rewards and perks: Take full advantage of the points and partner discounts offered by Brex to maximize the value you get from your company's everyday business spending.

‍

Get More From Your Credit Cards

To maximize the rewards from your credit cards, Kudos stands out as the premier free shopping assistant for your online purchases. We're also giving you $20 back after your first qualifying transaction when you sign-up for free with the code "GET20" and buy from a Boost merchant.