How to apply for PEX Credit Expense

• New customer — you don’t have a PEX account yet
• Existing customer — you already use PEX Prepaid or another PEX product

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Before you apply

• You’ll link an external corporate bank account via Plaid (or manually via micro-deposits)
• A minimum bank balance is required. Typical qualifying customers keep a three-month average business cash balance of $20,000 or more in their linked corporate bank account
• Sole proprietorships aren’t eligible
• Public email domains (like Gmail or Yahoo) aren’t eligible
• Credit Expense isn’t available in all states yet

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Path 1: apply as a new customer

1. Create your account
   • Visit the PEX sign-up site
   • Enter your email, create a password and complete the reCAPTCHA verification
2. Enter your business information
   • Company name, DBA (if applicable), federal tax ID (EIN), legal structure, address, website and phone number
3. Provide additional business details
   • Industry, annual revenue and other details we use for underwriting
4. Identify your control person
   • This is the individual with significant management responsibility for your business — provide their name, title, date of birth, SSN and address
5. Disclose beneficial owners
   • List anyone who owns 25% or more of your company
6. Verify your identity
   • We verify your identity through Alloy. If automated verification can’t be completed, you may be asked to upload a document
7. Upload supporting documentation
   • Provide any required business documents, like your EIN letter, articles of incorporation or other formation documents
8. Choose your product
   • You’ll see three options:
     • Prepaid Expense — pre-fund your account to enable and track employee spending
     • Credit Expense (labeled “Best value”) — a charge card with a line of credit for flexible cash flow management
     • Disburse — distribute funds to beneficiaries outside your organization
   • Select Credit Expense
   • Choose your anticipated monthly spend range
   • Select how many cards you need (1-15, 16-50, 51-150 or 150+)
   • Optionally, auto-order a free card shipped to your business address
9. Link your external bank account
   • Link your primary business bank account via Plaid (preferred) or Finicity. We’ll use this account to automatically repay your full statement balance via ACH direct debit
   • Recommended: Link additional checking, savings or money market accounts. The more accounts you link, the more accurately we can tailor your credit limit
   • If Plaid linking fails, you can link manually via micro-deposits and upload bank statements. Micro-deposits may take 2-3 business days to appear — Plaid is faster and typically results in a larger credit line and higher approval rate
10. Provide enhanced due diligence information (if prompted)
    • We may ask for additional information to meet regulatory compliance requirements
11. Review and submit
    • Double-check your business details, documentation, product selection and linked bank accounts. Edit any section if needed, then submit

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What happens next

• Approved — you’ll see a congratulations message with your approved credit line and statement period (weekly or monthly). Click “Get started” to begin using your account and ordering cards
• Under review — our team needs to review your application manually. We’ll email you the final decision. In the meantime, you can start ordering cards and configuring your account
• Declined — we can’t offer a line of credit at this time. You can switch to a Prepaid Expense - Base plan instead, or close the application
• Delayed — your application needs further review. We’ll email you the final decision

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Path 2: apply as an existing customer

1. Log into the PEX Dashboard
2. Click “New account” in the top navigation bar
3. Select “Credit Expense” from the dropdown menu

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Same federal tax ID

4. Eligibility check
   • We automatically check your eligibility. If you’re not eligible, you’ll see a specific message explaining why — for example, credit already exists for this EIN, a previous application was declined, a public domain email, sole proprietorship, ineligible state, no spend history or a negative prepaid balance
5. Verify your company information
   • Your company name and EIN are pre-populated from your existing account. Verify or update your company identifier if needed
6. Select your anticipated monthly spend
   • Choose your expected monthly spend range
7. Link your external bank account
   • Link your primary business bank account via Plaid. If your existing prepaid account already has a linked bank account, we may import it automatically
   • This account will be used for autopay at the end of each statement period. You can change it in Business Settings after credit approval
   • If Plaid linking fails, link manually via micro-deposits and upload your 3 most recent complete monthly statements — unmodified PDFs from your financial institution
   • Recommended: Link additional checking, savings or money market accounts (up to 10 total) to strengthen your application and potentially receive a higher credit limit
8. Complete customer verification (Know Your Business)
   • If your business information needs re-verification, we’ll ask you to review and verify your organization’s control person and beneficial owner information
   • If verification is pending our review, you’ll see a “Pending PEX review” status. Wait for it to complete before submitting
9. Accept the terms
   • Read and agree to the Credit Expense Card Program Terms of Service
10. Submit
    • Click “Submit” to send your application

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Different federal tax ID

4. Select “Different federal tax ID” in the modal
5. Click “Submit” — this opens our full onboarding site (Start) in a new browser window
6. Complete the full new customer enrollment (Path 1 above) using the new EIN

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Already have a pending application?

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Credit sub-accounts (Multi-Program Accounts)

• When you select “Same federal tax ID,” the option reads “Allocate credit line to multiple sub-accounts”
• This lets you create sub-accounts under your existing credit line
• Your total credit line must be at least $50,000 to allocate to sub-accounts
• Sub-account creation follows a simplified flow and results in a new account with an allocated portion of your existing credit line

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After you’re approved

• Your new credit account links automatically to your Dashboard
• Switch between accounts (prepaid, credit, disburse) right from the Dashboard
• Order physical or virtual cards for your team
• Your linked bank account is set up to pay your statement automatically via ACH direct debit — change it anytime in Business Settings
• Earn 1% back on all qualifying spend (see rebate terms and conditions at pexcard.com)

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Frequently asked questions