This is one of our top picks in the category so we recommend it over others (you're on the right page), read below to learn why we love and recommend it! ⤵
This is one of the better tools in its category, see below if this tool is right for you! ⤵
We believe there are better options available in this category, read below to learn what they do well, and what they could do better. ⤵
BILL Spend & Expense (Formerly Divvy) The spend management platform for teams of all sizes (customizable virtual cards, budgeting, auto-reconciling, and expense reimbursement).
I'm sure you've heard of a business credit card? Divvy is a replacement for your typical corporate card. It's totally free to use (no annual fee), you get rewards and it has a much more comprehensive feature set, giving you the ability to create virtual credit cards for each vendor with spending limits. Further, Divvy is an expense management solution. Bought a new marketing software? Categorize it and when integrated with Quickbooks Online, it will automatically reconcile your books for you.
Simply put, if you are a business owner living in the United States, you are missing out if you're not using an expense management solution + a divvy business credit card. There are other players in the market, and we've used all of the core competitors (Ramp, Brex, Expensify, and Airbase), and we're here to tell you to look no further than Divvy (newly rebranded to BILL Spend & Expense). (Did we mention it's totally free? 👀)
Divvy gives us so much control when it comes to our spending. We can easily create a virtual credit card, set a budget and Quickbooks category within seconds for each different vendor. We simply set a budget for each credit card for the exact amount that we know will be charged. If a subscription service decides to increase their pricing and charge our card, it will decline. And we like that, because we want to be the one deciding if someone should charge us more or not. 💪
Because we're able to put virtual cards down with each vendor, Divvy's allowed us (and our vendor) to actually catch a person that committed fraud by stealing and using our credit card 🤯 Of course, the employee of our vendor was fired. Catching them would have been impossible to pin down if we had a generic credit card on file. We share this story in this 1 minute video.
Have multiple employees that need their own corporate card? Create a card for them and set a spending limit, that's all you need to do. You can change the spending limit for each employee, make it $50 or $500, Divvy cards allow you to be flexible. If they leave the company, simply freeze the card (you have total control—just think of what the process is like with a typically corporate card. Issuing a new card for an employee is an annoying process, as is cancelling it). Not to mention the positive affect it has on your employees, as they get to feel empowered and like a trusted part of the team.
The rewards are pretty standard with others in the business credit card space, getting somewhere around 1–1.5% on all categories, with a bit more in certain categories (higher % when making payments weekly—less if made bi-weekly or monthly).
One customer that we recommended Divvy to started using it and quickly saw his reward balance grow. He decided to use the reward funds as Christmas bonuses for his employees. He said, "it's money that's just sitting there, and if I can give them a little extra to take home at the end of the year, it's something cool I get to do."
Travel rewards are also a perk with Divvy as they are partnered with TravelPerk. While we haven't cashed in our travel rewards yet, it's a great option for our next company retreat!
Out of all the competitors, Divvy has the best UI/UX and does a fantastic job at natively integrating with QuickBooks Online (for automating your expense reconciling process), and handles team budgeting like a dream:
Divvy allows you to create a virtual credit card and map it to the respective category + set up an email forwarding filter within your email once, and every single time the card is charged, your QuickBooks Online is already reconciled and up-to-date with a PDF of the receipt.
The Divvy eligibility requirements are way more accessible than that of Ramp and Brex (who both make their account criteria unnecessarily high). Divvy is great for startups and teams of all sizes, even if you're just getting your business started.
Divvy is the best tool in the spend management, business credit cards, budgeting, and basic accounting automation suite for most businesses of all sizes.
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Since BILL Spend & Expense is a corporate card, your personal credit score isn't taken into account and no credit check is required. Their underwriter is making the approval decision based on funds available in your company bank account (like Mercury Bank). BILL Spend & Expense has lower account requirements to start than Ramp.
BILL Spend & Expense uses an underwriter that looks at the funds you have in your corporate bank account (like Mercury Bank) and cashflow (business income) to determine your approved credit limit. They are a bit more generous on credit limit as compared to your account balance, when comparing BILL vs Ramp. If you pay off your balance in time regularly, they may automatically give you a higher credit limit as it's not as directly tied to your bank account balance as Ramp is (making it more ideal for small businesses with less cash in the bank).
You can probably expect a $5K limit starting out, but keep in mind that you can pay this off weekly or even daily, so if you pay off weekly for example, that means it resets once per week, making your effective credit limit $20K/mo. You can also make a on-off overpayment if you need to make a larger purchase that is outside of the limit they've given you.
The BILL Spend & Expense credit card uses the Visa network, which is arguably the best network to use (even over MasterCard) for these spend and expense platforms because the Visa network allows for restricting purchases based on spend category, unlike MasterCard. In-fact, BILL actually used to use MasterCard and switched to Visa (like that of Ramp) to have more product functionality.
BILL Spend & Expense is currently US only, if you ask Google or other sites, you'll hear that BILL Spend & Expense (Divvy) Cards work in Canada and other countries, meaning that you can use the in those countries, but BILL only works currently for companies based in the United States.
We've tracked and verified the above companies are using this software in their team's stack.
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