Help with your credit limit
Overview
We want to help you maintain your credit limit so your business activities aren’t interrupted. If you notice that your account’s spending limit has recently changed but aren’t sure why, it might be due to one of these common reasons.
Your credit limit was lowered
Brex changes credit limits when account activity suggests that you may become unable to repay the balance. Additionally, Brex can change your credit limit at our sole discretion based on violations of our platform agreement, a Terms of Service violation, or our determination of risk. Below are examples of scenarios that might result in a decrease in credit limit.
Incomplete/ Stale Financial Information
Connected Bank Account
If you don't have connected external bank accounts, we won’t be able to underwrite a limit for you. You can fix this by either connecting a bank account or switching to statement underwriting.
Bank data staleness
Even if you have connected a bank account, it might be out of date or has lost connectivity. We can’t issue you a credit limit during long periods of staleness because we need visibility into your company's cash balance. Please reconnect your bank account as soon as possible.
Missing statements
We’ll proactively email you when we require you to submit bank statements. To ensure accurate credit assessment and account management, we require you to periodically submit bank statements. The frequency of submission depends on your credit profile.
Be sure to submit your most recent bank statements as soon as you can.
You can also check if we require you to submit statements by clicking your name in the top right corner of your dashboard > Statements and Documents.
Failed payments
If your automatic statement payment fails or is reversed, we'll email you with a prompt to correct the issue. If you don’t arrange an alternate payment, your account limit may be lowered.
First find out why your payment might have failed, so it doesn’t impact you again. You can then make a new payment to Brex to settle your statement.
Maintaining your company credit limit
Depending on your situation, there are a few different actions you can take to maintain your Brex credit limit and avoid interruptions.
Navigate to Accounts > Credit to view potential errors:
- Payment overdue: To make a one-time payment, see instructions in this help article.
- Credit limit exceeded: To resolve, please read Your credit limit is negative below.
- Credit limit reached: If you need additional spending room, please read this help article for more information.
- Bank statement overdue: To resolve, please read Uploading bank statement below.
Giving us visibility to another external account
If you’re using our Brex card with monthly payments product, your limit is typically determined by the cash balances in your connected bank accounts. Giving us visibility into more of your funds by connecting an additional external bank account is one way to positively impact your credit limit.
Uploading bank statements
Providing additional bank statements with visibility into more of your funds can be an alternative option to maintain your credit limit if you cannot connect your bank account. For more information on uploading statements for underwriting purposes, refer to this article.
Adding funds to your connected accounts
If you have accounts connected to Brex already, adding funds to your external account can help maintain your credit limit. If you give us visibility into your external account via a direct connection, we should see your updated balance shortly. If you’re giving us visibility by uploading statements, you may need to upload an up-to-date statement, even if your upload date hasn’t come due yet.
Let us know in advance
If you plan to add funds or are expecting additional fundraising, please contact Brex Support to let us know.
Your credit limit is negative
Though uncommon, your available spend could end up in the negative if your credit limit is lowered to below that of your used balance. The best way to address this is to determine why your limit was dropped or zeroed. Something may require your attention.
You can also make an early payment to free up spending room. Early payments will clear in 3-5 business days.
Credit limits are calculated in part by Brex’s ongoing account-specific determination of risk. These credit limits are subject to change at any time at our sole discretion in accordance with our rights outlined in the Platform Agreement.