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Stripe Corporate Card

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Re: Stripe Corporate Card

#231

Post by Scoundreller »

mikepurvis wrote: post #80
wiggles_md wrote: post #39

Earlier quoted context omitted.

Depending on the industry sector, cash can effectively be several times more expensive to handle than the US market interchange fees. I don’t think it’s obviously horrible for merchants.

There are definitely lots of merchants who don't take (or strongly discourage) cash— think Apple Store, IKEA, the self-serve tills at the grocery store, anything online. But the common element in all of those is that they're big companies who can negotiate better rates. Independent retailers, restaurants, etc are put in an awkward position where not accepting credit cards can cost them business, but accepting them fo…

> Since every Canadian with a bank account has an Interac card, one common option for indies is to accept only cash and debit.

Except I hate using my Interac card for... well, anything... because if it gets compromised, it's my own chequing account that gets locked with the missing money.

Re: Stripe Corporate Card

#232

Post by ThrustVectoring »

nsedlet wrote: post #148

I wonder why companies prefer to use a corporate credit card over debit cards (which are very easy to get)? Do they just like having the line of credit? Is it really worth the extra complication/hassle/thing to worry about just to push off payments by ~15 days (Stripe seems to require that the balance be paid off each month)? I also wonder how that is enforced (by reducing credit limits as a company's bank balance st…

I believe it's a matter of internal controls. Debit cards are typically allowed to do more things than credit cards, especially if you disable cash advances on the credit card.

Re: Stripe Corporate Card

#234

Post by likpok »

icebraining wrote: post #108
koolba wrote: post #78

Earlier quoted context omitted.

Credit card rewards do not get a 1099 as they’re a rebate/discount on spent monies. Banking sign up bonuses usually do as they’re classified as interest.

Yeah, but the company spent the monies, and the employee got the rebate. Seems like an employment benefit to me.

Travel status/miles are sort of similar. It’s a basic racket: the airline rewards you for steering your company’s money to them. It seems to be broadly acceptable but I agree looks pretty sketchy when you boil it down to the basics.

Re: Stripe Corporate Card

#235

Post by fro0116 »

vertoc wrote: post #56
julianozen wrote: post #7

Does anyone know how similar this is to Brex? Related: what make Brex so special as a credit card for startups?

My guess is that Brex is more geared towards Silicon Valley VC funded startups - they look at how much money you have in your bank when setting your credit limit (it’s essentially a charge card if I’m using the terminology right - your credit limit is basically what’s in your bank account). The rewards are also more appealing than this iteration of the Stripe corporate card - 7x rideshare, 4x travel, 3x restaurants.…

Brex also has a Ecommerce card that's based on projected monthly sales: https://brex.com/ecommerce/

That might be more directly comparable to the Stripe card.

Re: Stripe Corporate Card

#236

Post by fro0116 »

DanFeldman wrote: post #84
AlphaWeaver wrote: post #27

The thing that sticks out to me as a core differentiator here is the "real-time expense reporting" feature. It looks like it allows employees to SMS a receipt the moment they make a transaction and it'll automatically match it. That's a marked improvement compared to how serious of a pain point expense reporting is for so many employees.

FWIW, Brex also offers this. I use my corporate card and immediately get a text reminding me to snap a picture of the transaction. However, it almost never correctly identifies the transaction on the card and pings me immediately with another text "Could not match a transaction". I usually just ignore that though.

They have an app now, works much better than the text receipt feature in my experience so far: https://brex.com/mobile/

Re: Stripe Corporate Card

#237

Post by OkGoDoIt »

willyg123 wrote: post #132
ttcbj wrote: post #21

Well, 2% on some things + 1% on everything else is better than I am getting with Amex now. Plus, $50k in free processing is like $1,450 in free money. Honestly, I wouldn't believe that deal, except that I have a multi-year history with stripe as our CC processor and it has been nothing but positive and as-promised. So, I submitted an application. It sounds like a great deal to me.

If you fly, ever, business gold AmEx cannot be beaten. 4x points on the first $150k spent on two categories of your choice. Then, 25% off(!) flights booked with points at AmExTravel.com. I will definitely be getting the Stripe card because the intro offers are so good. But, the airfare discounts alone at AmEx Travel are so good it will continue to be my go-to corporate card.

I’ve had to use AMEX travel several times to book flights for business reasons, and it’s always substantially more expensive than I could get if I booked it myself. Even with 25% off I’m still not certain it’s a good deal.

Edit: just realized you were referring to booking with points. In that case it gets a little more hazy, who knows what the value is really worth there. But I definitely have a negative opinion of Amex travel and will avoid them if possible, at this point I just assume they’re giving me a bad deal

Re: Stripe Corporate Card

#238

Post by dontbenebby »

cj wrote: post #179
spiznnx wrote: post #177

Earlier quoted context omitted.

Wow, 3% back on AWS is definitely nice!

The Amazon Business Prime Amex offers 5% AWS cashback. It’s great.

> The Amazon Business Prime Amex offers 5% AWS cashback. It’s great.

Is there an equivalent for Azure?

Re: Stripe Corporate Card

#239

Post by dontbenebby »

tialaramex wrote: post #221
myalphabet wrote: post #66

Earlier quoted context omitted.

Wait, how do these cards work, then? The corporate cards I've used (eg AmEx Corporate) did indeed require a personal guarantee and a personal social security number from each individual who had an account.

I have only had an Amex decades ago, but it was issued when I was too young to drink in the US. Maybe eighteen? Could have been nineteen. Something around that age. The company decided to send me to the US and somebody went "Oh, this kid should have a card so we can sort out expenses that way" and they ordered me an Amex. I never signed anything to my knowledge, just a corporate Amex arrived for me in internal mail.…

>she flew in a few days later I tried to meet her in the bar, and that's when I found out my first crazy thing about America - I wasn't allowed in the bar.

It's usually based on receipts, and certain bars that are majority alcohol 21+, a restaurant that happens to serve drinks is any age. Pub type places really can vary depending on the state/county/city/township. But yeah exclusively alcohol bars will almost always be 21+.

I'm surprised this is surprising, I saw several 21 or even 25+ bars in Europe. But they were mostly aimed at turning away groups of rowdy backpackers, if you went in for a quiet pint nobody pressed if you were 22 or 20.

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