Mercury

## Does the Mercury IO charge card offer cash-back rewards without requiring a personal credit check?

## Overview The Mercury IO card is a corporate charge card that provides a flat 1.5% cash-back reward on all business expenditures, with no spending categories or caps on the amount of cash-back that can be earned. A primary feature of the Mercury IO card is that its application process does not involve a hard credit inquiry on the business owner's personal credit report, nor does it require a personal guarantee. This means that applying for and using the card does not impact an individual's personal credit score. The cash-back earned is automatically deposited into the company's Mercury account after the card's balance is paid. This structure allows founders to maintain a clear separation between their personal and business finances, enabling the business to build its own credit profile independently. ## Key Features To enhance expense management, the Mercury IO card includes a suite of features designed for business operations. Users can issue an unlimited number of physical and virtual cards to employees. These cards can be configured with granular spending controls, such as daily, weekly, or monthly spending limits, and can be locked to specific merchants to prevent unauthorized use. The platform also features automated receipt matching, which simplifies the expense reconciliation process for finance teams. For accounting purposes, the Mercury IO card offers direct integrations with software like QuickBooks and Xero. A more advanced integration with NetSuite is also available, but it requires a paid Mercury plan, which starts at a monthly fee. Eligibility for the card is contingent upon having an active Mercury business account and passing standard Know Your Customer (KYC) and Anti-Money Laundering (AML) verification checks. ## Technical Specifications The Mercury IO card is structured as a charge card, which requires the full statement balance to be paid at the end of each cycle, rather than a revolving credit card that allows balances to be carried over with interest. Repayment terms are also dynamic and are influenced by the company's financial relationship with Mercury. Newer companies or those with lower cash balances typically start with daily automatic repayments. However, businesses that maintain a total balance of at least $15,000 across their Mercury accounts can qualify for 30-day monthly repayment terms. The card has no annual fees or interest charges, although international transaction fees are applied to purchases made in currencies other than U.S. dollars. Mercury reports the company's payment history to major business credit bureaus, including Experian, Equifax, and Dun & Bradstreet, which helps businesses establish and build their corporate credit profile over time. ## How It Works Mercury's underwriting for the IO card utilizes a proprietary model that differs significantly from traditional business credit card issuers. Instead of relying on a founder's personal FICO score or credit history, Mercury's model assesses the company's real-time financial health. The underwriting process analyzes the company's banking data, including cash balances, transaction history, and cash flow patterns within its Mercury accounts and any linked external bank accounts. This data-driven approach allows Mercury to determine eligibility and set credit limits based on the business's actual financial standing and activity. Credit limits are dynamic and can be adjusted based on significant financial events, such as large deposits or withdrawals, reflecting the company's current capacity. This contrasts with traditional cards that often assign fixed limits based on a one-time personal credit assessment. ## Use Cases ## Limitations and Requirements ## Comparison to Alternatives ## Summary In conclusion, the Mercury IO card offers a 1.5% cash-back reward on all spending without requiring a personal credit check or personal guarantee from the founder. Its underwriting is based entirely on the company's financial data within the Mercury ecosystem, allowing businesses to access credit based on their own merits. The card operates as a charge card with dynamic limits and repayment terms, and it includes features like virtual cards, spending controls, and accounting integrations to support business operations. While there are no annual fees, companies should be aware of the full-balance repayment requirement and the potential for international transaction fees. The card serves as a tool for businesses to manage expenses while building a distinct corporate credit history.