What credit score do you need for the BILL Spend & Expense card?

BILL Spend & Expense looks at a few different factors when deciding whether to approve your application. Each application gets reviewed individually. One key point is credit: both business and personal credit usually need to be in the "good-to-very-good range". We recommend giving it a shot and applying, the application is quick and you don't have anything to lose and much to gain by using their platform (P.S. grab your BILL Spend & Expense referral bonus before you apply).

What credit limit does BILL Spend & Expense give and how is it determined?

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 on 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. After you complete your application, you can choose from a few different types of credit lines depending on what makes sense for your business: A fixed credit line is exactly what it sounds like: a set amount of credit that typically won't change, similar to a traditional line of credit. A variable credit line can fluctuate based on the cash balance in the bank account(s) tied to that line. If the balance goes up, your credit line can increase, if it goes down, the line may decrease. BILL Spend & Expense will email you five days before a potential decrease and a few days before a potential increase. For decreases, the email explains the change and gives guidance on how to maintain your credit limit. Finally, a prepayment line is backed by a security deposit. If you deposit $100,000, your credit limit is $100,000. You can adjust the limit by adding or withdrawing funds from that deposit. Choosing the right type of credit line comes down to how predictable your spend is and how much flexibility you want.

Does the BILL Spend & Expense card run on the Visa network?

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 S&E actually used to use MasterCard and switched to Visa (like that of Ramp) to have more product functionality.

Can Canadian companies use BILL Spend & Expense?

As of right now, BILL Spend & Expense is only available if you use a US bank account and have a US EIN. BILL Spend & Expense cards work in Canada and other countries, meaning that you can use them for payments in those countries, but you can only create a BILL S&E account if you're a company based in the United States. Caveat to note: Companies outside of the US can sign up if at least one owner (25% ownership or more) is a US citizen or resident.