Disclaimer: Rho is a fintech company, not a bank. Checking and card services provided by Webster Bank, N.A., member FDIC; savings account services provided by American Deposit Management Co. and its partner banks.
The Rho Corporate Card is a flexible business credit card with robust rewards. Built for corporations, limited liability companies (LLCs), or limited partnerships (LPs), the Rho Corporate Card is ideal for venture capital-backed businesses experiencing or expecting rapid growth. What’s more? There’s no annual fee.
Is the Rho Credit Card right for your startup? Read on to learn about Rho’s business credit card requirements, its features, and how it compares to another small business credit card: the BILL Divvy Corporate Card
Streamline Corporate Spending
Unlock powerful cash management tools and credit benefits with the fee-free Rho business credit card.
Apply NowWhat Is the Rho Corporate Card?
The Rho Corporate Card is a standalone charge card that offers 1.25% cash back on all purchases along with comprehensive expense management features and seamless receipt capture. For businesses seeking a more integrated financial solution, the Rho Platinum Card is available when combining the Rho Corporate Card with the company’s banking services. The Rho Platinum Card maintains the same charge card structure, but with 2% cash back on all purchases and 24/7 customer support. Both cards enable automated expense categorization and real-time transaction tracking although specific feature availability may vary between the two offerings.
Rho Corporate Card at a Glance
| Annual Fee | None |
| Regular APR | None |
| Cash Back | Up to 1.25% (2% with the Rho Platinum Card) |
| Best For | Small business and early stage startups |
Rho Eligibility Requirements
To be eligible for a Rho account, a business must have been formed in the United States as a corporation, LLC, or LP (i.e., no sole proprietorships or unincorporated businesses).
An application for a Rho Account will require:
- Formation documents
- Business and industry information
- A tax ID
- Beneficial owner information and control person information
The approval process for the Rho Card doesn’t require a personal credit check or personal guarantee.
Pros and Cons of Rho Business Credit Card
Pros of Rho Business Credit Card
- Requires no personal guarantee to qualify
- Attractive rewards program with cash back of up to 1.25% (2% with the Rho Platinum Card)
- No minimum deposit requirements
- Flexible credit terms
- Comes with a suite of banking services
Cons of Rho Business Credit Card
- No physical bank branches
- No ATM withdrawals
Take Control of Business Spending With Rho
The Rho Corporate Card offers robust expense management features, cash back rewards, and easy reconciliation process — all with no annual or monthly fees.
Get StartedRho Corporate Card Fees & Features
The Rho Corporate Card is a charge card, not a credit card, so businesses must pay the balance outstanding on the due date in full. Delinquent payments incur a 3% fee. Additional fees include a 1% foreign currency transfer fee and a $30 wire recall fee.
However, Rho doesn’t impose same-day ACH, wire, subscription, or check fees to use the company’s corporate card. Additionally, there are no checking account minimum fees for customers using Rho’s banking services.
The Rho Corporate Card comes with an associated suite of commercial banking services that include FDIC-insured commercial checking and treasury accounts at partner banks as well as automated, no-fee accounts payable.
Rewards and Benefits
- Cash back of up to 1.25% (2% with the Rho Platinum Card)
- Associated banking services
- Fee-free banking and global payments
Interest Rates
- 0% APR
The Rho Corporate Card is a charge card. Generally, that means businesses can’t carry a balance forward so there are no interest charges. There’s an option to carry forward a balance, however, under which businesses must pay off their balance no later than 60 days after they incur the expenditure. There’s no interest charge for the extended repayment period.
Fees
- No annual fees
- No minimum account balance
- Foreign currency exchange fee: 1%
- Wire recall fee: $30
- Delinquent payment fee: 3%
How Does Rho Compare?
Rho may be a great card for a startup — particularly one that intends to tap external equity financing. But, there are several competitors that offer business credit cards and enticing rewards to consider before choosing your corporate card. Three of the most notable competitors are BILL Divvy, Mercury, and Brex. Here’s how they compared to Rho’s offerings:
BILL Divvy vs. Rho
BILL Divvy offers an attractive rewards program with up to 7x points on restaurant purchases, 5x points on hotels, 2x points on recurring software subscriptions, and 1.5x points on everything else. BILL is available to sole proprietors, LLCs, and corporations. That being said, the Rho Corporate Card is open to LLCs — just not sole proprietorships.
In addition, while Rho has a good rewards program, BILL’s rewards program is matchless. Cardholders can earn up to 7x points on some expenses if they pay off the balance more than once a month. The BILL Divvy Corporate Card may be the card for you if you plan to retain control of your business or expect it to scale over a longer period.
Mercury vs. Rho
Mercury offers a straightforward 1.5% cash back on all purchases while Rho offers slightly less at 1.25% cash back. Mercury welcomes startups, tech companies, and ecommerce businesses with cards available to C corporations (C corps), S corporations (S corps), LLCs, and even sole proprietors. Rho focuses on more established businesses and is open to LLCs, but not sole proprietorships.
The Mercury business credit card could be the better choice if you’re running a tech startup or need a more flexible card that accepts sole proprietorships. On the other hand, Rho might edge ahead for established LLCs looking to maximize cash back through strategic payment timing.
Brex vs. Rho
Brex and Rho take different approaches to corporate card programs. Brex offers points-based rewards with multipliers in various spending categories: 7x on rideshare, 4x on travel booked through Brex, 3x on restaurants, 2x on recurring software subscriptions, and 1x on everything else. Rho, in contrast, keeps it straightforward with a flat 1.25% cash back on all purchases through the company’s charge card.
While Brex requires businesses to maintain a minimum cash balance and focuses primarily on startups and tech companies, Rho caters to a broader range of established businesses. Rho’s model is particularly attractive for companies seeking an integrated finance platform because the company offers enhanced benefits through the Rho Platinum Card when combined with Rho’s banking services.
Features Comparison
| Card | Annual Fee | Regular APR | Rewards | Minimum Balance |
| Rho Corporate Card | $0 | None | 1.25%-2% cash back | None |
| Mercury IO | $0 | None | 1.5% cash back | $25,000 |
| Brex Card | $0 | None | 1%-7% cash back | $50,000 |
| BILL Divvy | $0 | None | 1.5%-7% cash back | $20,000 |
Is the Rho Corporate Card Right for Your Startup?
The Rho Corporate Card is a charge card meant mainly for venture capital (VC)-backed businesses that are at least six months old. It comes bundled with a suite of banking services that include zero-fee foreign payments, automated accounts payable, robust budgeting and reporting, and a dedicated Rho business banking specialist to provide expert support seven days a week.
It’s particularly well-suited for:
- Small businesses formed as an LLC or corporation
- Early stage startups with VC backing
- Businesses looking to combine banking and credit services for optimal rewards
However, it may not be the best fit if:
- You’re operating a sole proprietorship
- You’re looking for maximum rewards on a corporate card alone
The bottom line? The Rho Corporate Card offers an easy way to smooth out cash flow. The company’s expense management and simple reconciliation features make managing business spending easier. Plus, businesses looking to maximize potential rewards can take advantage of the Rho Platinum Card by combining banking and corporate cards to access 2% cash back as well as additional features.
Frequently Asked Questions
What are the requirements for the Rho Corporate Card?
To be eligible, your business must be incorporated in the United States. It also must be a business entity that requires registration with state authorities, such as a corporation, limited liability company (LLC), or limited partnership (LP).
Is Rho a bank?
No. Rho isn’t a bank. Rho is a financial technology (fintech) company that provides a range of banking and accounting services through a network of commercial banks. Banking partners include Evolve Bank & Trust, Webster Bank, N.A., and other financial institutions.
Is Rho secure?
Checking accounts and treasury accounts provided through Rho are protected by deposit insurance with the Federal Insurance Deposit Corporation (FDIC). Checking account balances up to $250,000 and Rho Treasury account balances up to $75 million are covered.
Do I have to provide a personal guarantee to get a Rho Card?
No. The credit facility provided to your business is determined solely by the business’s financial strength.
How will my business’s credit limit be determined?
Rho determines your credit limit by considering a wide range of key performance indicators (KPIs), such as revenue growth, spending patterns, and balance sheet liquidity. This is in contrast to established financial institutions that lend only to businesses with a lengthy history or substantial cash balances.
