What Ramp credit cards are and who uses them
Ramp is a corporate credit card issued by Sutton Bank, designed for small business owners and their employees to use for company spending. Unlike a personal credit card, a Ramp card connects to your business bank account and expense management software, so spending shows up categorized and ready for accounting. The card itself is free — there is no annual fee — and you can issue multiple cards to employees with individual spending limits.
The company makes money from merchant fees, not from cardholders, which is why there is no annual charge. You pay interest only if you carry a balance month to month; otherwise, you pay nothing. The card reports to business credit bureaus, not personal credit bureaus, so it does not affect your personal credit score.
Key Takeaways
- Ramp cards have no annual fee and no interest charges if you pay the full balance each month, making them free to use for businesses that pay on time.
- The card comes with built-in expense tracking and approval workflows, so employees cannot spend beyond their limits without manager sign-off.
- You need a business bank account and an EIN to open an account; Ramp does not issue cards to sole proprietors using a personal Social Security number.
- Ramp charges interest on unpaid balances and late fees if you miss the due date, so the card works best for businesses with predictable cash flow.
- The card does not earn cash back or travel rewards, so it is a tool for control and accounting rather than a rewards-earning card.
How the spending controls and approval process work
When you set up Ramp, you create spending policies that define what each employee can buy and how much. You can set limits by category — for example, $500 per month on software subscriptions, $2,000 per month on travel — or by individual transaction. If an employee tries to make a purchase that breaks the rule, the card declines at the point of sale.
You can also require approval before certain purchases go through. For instance, any single purchase over $1,000 might need manager sign-off before the card processes it. This approval happens in the Ramp app, and the employee can see the status in real time. Once approved, the transaction goes through; if denied, the card declines and the employee knows when ready.
All transactions land in your Ramp dashboard categorized by type — office supplies, meals, travel, software — so you do not have to sort receipts or code expenses yourself. The data syncs with accounting software like QuickBooks or Xero, which means your books stay current without manual entry.
Interest rates, fees, and what you pay if you carry a balance
Ramp does not publish a fixed interest rate; instead, the rate depends on your creditworthiness and business profile. Rates typically range from 9% to 27% APR, but you will see your specific rate before you accept the card. If you pay your balance in full by the due date each month, you pay no interest at all.
Late fees are $25 if you miss the due date. There is no annual fee, no foreign transaction fee, and no fee for issuing additional cards to employees. If you carry a balance, interest accrues daily on the unpaid amount.
The card has no rewards program — no cash back, no points, no travel benefits. The value proposition is operational: you save time on expense management and gain control over employee spending. If you need a card that earns rewards, Ramp is not the right fit.
Who can open a Ramp account and what you need to provide
You must have a registered business with an EIN (Employer Identification Number). Sole proprietors who operate under their personal Social Security number cannot open a Ramp account. Your business must have a business bank account; Ramp will verify it during setup.
During the process, Ramp will ask for basic business information — legal name, address, industry, annual revenue — and will pull a business credit report. They may also ask for a personal may provide, meaning you agree to pay the balance if the business cannot. The approval process usually takes one to three business days.
You do not need an existing business credit history to open an account, but Ramp does look at your business bank account activity and your personal credit score as part of the decision. If you are denied, you can reapply after addressing the reason — for example, by building business credit or increasing your bank balance.
How Ramp compares to other corporate card options
The main competitors are Brex, American Express Corporate, and traditional bank corporate cards. Brex also has no annual fee and offers similar spending controls, but Brex requires higher revenue and a longer business history, making it harder to open if you are early-stage. American Express Corporate cards often have annual fees ($95 to $450) but may offer rewards and higher credit limits.
Traditional bank cards — from Chase, Bank of America, or your local bank — usually have annual fees and less sophisticated software, but they may be easier to open if you have an existing relationship with the bank. Ramp's main advantage is the combination of no annual fee, built-in expense software, and approval workflows; its main limitation is the lack of rewards.
If your business spends less than $10,000 per month and does not need advanced approval workflows, a traditional business credit card might be simpler. If you spend more and want to automate expense tracking and control, Ramp or Brex is usually the better choice.
What happens to your data and how Ramp uses it
Ramp stores all transaction data on encrypted servers and syncs it with your connected accounting software. The company uses your data to improve its software and to assess credit risk for future decisions, but does not sell your transaction data to third parties. You own your data and can export it at any time.
Ramp is a financial institution regulated by the Consumer Financial Protection Bureau (CFPB) and must comply with data privacy laws. If you close your account, your transaction history remains available in your dashboard for a set period, and you can read it before it is deleted.
When Ramp makes sense and when it does not
Ramp works best for small businesses with multiple employees and regular, predictable spending. If you have a team of five or more people making frequent purchases, the time saved on expense management and the control over spending limits pay for themselves quickly. If you pay your balance in full each month, the card costs nothing.
Ramp does not make sense if you are a sole proprietor, if you cannot pay your balance in full each month, or if you need a card that earns rewards. It also does not work well for businesses with highly variable cash flow, because carrying a balance will cost you interest. If you are just starting out and do not have a business bank account yet, you will need to open one first.
The card is also less useful if you have only one or two employees and low monthly spending, because the overhead of setting up policies and approvals may outweigh the benefit. In that case, a straightforward business credit card from your bank might be enough.
Frequently Asked Questions
Does Ramp report to my personal credit score?
No. Ramp reports to business credit bureaus, not personal credit bureaus. Your personal credit score is not affected by opening a Ramp account or by how you use the card. However, if you personally may provide the account, a default could show up on your personal credit report.
Can I use Ramp if I am a sole proprietor?
No. Ramp requires a registered business with an EIN. If you operate as a sole proprietor under your Social Security number, you cannot open a Ramp account. You would need to form an LLC or S-Corp and obtain an EIN first.
What happens if an employee leaves and I need to cancel their card?
You can freeze or cancel a card when ready in the Ramp app. The card stops working when ready, and you can issue a new card to a replacement employee. There is no fee to cancel or reissue cards.
Does Ramp work with my accounting software?
Ramp integrates with QuickBooks Online, Xero, NetSuite, and several other platforms. If you use a different system, you can export your transaction data as a CSV file and import it manually. Check Ramp's integration list before opening an account to confirm your software is supported.
What if I cannot pay my balance in full?
You can carry a balance and pay interest on it, but this defeats the purpose of using Ramp. Interest rates range from 9% to 27% APR depending on your creditworthiness. If you expect to carry a balance regularly, a traditional business line of credit or a business loan may be cheaper.