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Divvy Credit Card Review
December 11, 2024
The Divvy card is considered a smart corporate credit card that helps businesses manage expenses and budgets. The Divvy card is a charge card, where the balance is due in full by the due date. You can elect to pay your balance weekly, semi-weekly, or monthly — which also determines the rewards you earn — the more frequently you pay, the higher the rewards.
Divvy's card and expense platform are all free, with no fees. You can also get free physical and virtual cards for all employees; no credit check (hard pull) or personal guarantee is required. The rewards offering is unique, but the real value lies in its expense management features.
Is the Divvy credit card for me?
The Divvy card is meant for small businesses. It's labeled a "smart credit card," which is meant to help companies of all sizes manage expenses and the budgeting process. The card has certain requirements for annual revenues and bank balances (typically $20,000).
If you're interested in rewards, sign-up bonuses, and premium perks, you'll likely be better off with a different business card. If you spend a lot of money at restaurants and hotels and want to improve your business' budgeting — control spending, automate expense reporting, and create budgets — Divvy's worth a closer look.
What makes this credit card different?
The Divvy card is a bit different from a conventional business credit card. It's a business line of credit that allows you to get cards for employees — physical and virtual — and set up different cards for each vendor. You can also set a monthly spending limit on each virtual card and freeze cards as necessary. It is, however, a charge card with the balance due in full by your due date.
It's app-based, which means you can use your phone for paying bills, managing expenses, and budgeting. With its software and app, you can see real-time spending. It also integrates with accounting software, such as QuickBooks, streamlining the bookkeeping process.
<figure id="" class="w-richtext-figure-type-image w-richtext-align-fullwidth" style="max-width:1500px" data-rt-type="image" data-rt-align="fullwidth" data-rt-max-width="1500px"><div id=""><img src="https://cdn.prod.website-files.com/618a364b9817c1a1f466ca8b/66ce4ea4712dc0a6effc9c77 6319988e624575c1a23abdf6 Divvy%2520Card%2520Budgeting%2520Tools.png" alt="Tools for budgeting provided with Divvy Card" width="auto" height="auto" loading="auto" id=""/></div></figure>
The budgeting and spending management tools are the highlight of this card. You can create one-time or recurring budgets based on various categories — e.g., project, event, team, location, or vendor.
Each cardholder can have individual spending limits that are adjustable in real-time. Approval for reimbursement expenses and funding requests is done in real-time via mobile notifications.
The Divvy card also offers integrated bill pay, which allows you to pay bills and invoices in the app.
What are my chances of getting approved?
There's no minimum credit score required as Divvy doesn't require a personal guarantee or do a hard credit check. However, if unapproved, you can still opt into their secured card program.
The criteria that Divvy considers include:
- Annual revenues
- Business transaction history
- Cash balances (typically at least $20,000)
- Location (must be US based)
If you don't qualify for Divvy's standard card, Divvy also offers a Credit Builder product. The Credit Builder program is a secured line of credit where you pre-fund your credit line before spending. The amount you pre-fund is your credit line. With this program, you still get access to all of Divvy's features for its standard program, including rewards and budgeting software.
All the details of the Divvy card
Here's a detailed breakdown of what to expect from the Divvy card.
1. Rates and fees
The Divvy card charges no fees for its card or its expense management platform. There are no annual, monthly, initiation, or hidden fees. Since it's considered a charge card due in full on the payment date, there are no interest charges. You can ask for an unlimited number of employee cards for free.
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2. Perks and rewards
There are three reward-earning tiers for the Divvy card. Rewards can be redeemed for Divvy Travel, cashback, gift cards, or statement credit. The rewards you earn are based on your payment schedule — the more often you pay, the more rewards you get.
<figure id="" class="w-richtext-figure-type-image w-richtext-align-fullwidth" style="max-width:1500px" data-rt-type="image" data-rt-align="fullwidth" data-rt-max-width="1500px"><div id=""><img src="https://cdn.prod.website-files.com/618a364b9817c1a1f466ca8b/66ce4ea4712dc0a6effc9c7c 63199c4be7e3432fe0300cad Perks%2520and%2520Rewards.png" alt="Perks and rewards of Divvy credit card" width="auto" height="auto" loading="auto" id=""/></div></figure>
There are three reward-earning tiers for the Divvy card. Reward redemptions are available for Divvy Travel, cashback, gift cards, or statement credit. The rewards you earn are based on your payment schedule — the more often you pay, the more rewards you get.
The value of the Divvy card reviews is as follows:
- $0.01 per point if redeemed for Divvy Travel,
- $0.0052 per point for cashback
- $0.0051 per point for gift cards
- $0.0049 per point for statement credit
For example, if you accumulate 100,000 points, you can redeem $1,000 in Divvy Travel, $520 in cash back, $510 in gift cards, or $490 in statement credit.
Note that businesses must spend at least 30% of their credit line each month to qualify for points.
Rewards example
Here's exactly what the table above means regarding how much value you'll get based on where you spend and redeem your rewards. The best case scenario is that you spend a lot of money on restaurants and hotels, choose to pay your balance weekly and redeem points via Divvy Travel. If you do that, you'll effectively get 7% in rewards for restaurant spend and 5% on hotels.
What about cashback? Assuming you go the cashback route and assuming you'll pay your balance weekly, then your cashback rate is roughly 3.6% for restaurants, 2.5% for hotels, 1% for recurring software subscriptions, and just 0.8% for everything else.
Those numbers get worse if you decide to pay your balance once a month versus once a week — dropping to 1% for restaurants and hotels, 0.8% on recurring software subscriptions, and 0.5% on everything else. Compare that to a lot of other business credit cards that offer at least 1.5% cashback on all purchases and up to 5% on certain transactions.
If the bulk of your business spending is on anything but restaurants, you can find better rewards cards out there — granted; they may come with an annual fee. If you have a high spend on restaurants, can pay your balance off weekly, and get value from redeeming points for business travel, the Divvy card could be enticing purely from a rewards standpoint.
<figure id="" class="w-richtext-figure-type-image w-richtext-align-fullwidth" style="max-width:1500px" data-rt-type="image" data-rt-align="fullwidth" data-rt-max-width="1500px"><div id=""><img src="https://cdn.prod.website-files.com/618a364b9817c1a1f466ca8b/66ce4ea4712dc0a6effc9c63 63199cd302300d13593d3eef Divvy%2520Card%2520Rewards.png" alt="Divvy Card key rewards categories" width="auto" height="auto" loading="auto" id=""/></div></figure>
Perks
The Divvy card does offer other perks, such as $25,000 in Amazon Web Services credit spread over two years. They also have rotating discounts with corporate partners, such as Google Ads, FedEx, Costco, Verizon, Lyft, Avis, Vistaprint, Gusto, Uber Eats, and GrubHub.
Build business credit
The Divvy card can also help you build business credit. Divvy reports your card balances and payments to the Small Business Financial Exchange (SBFE), which makes the information available to commercial credit reporting bureaus, such as Dun & Bradstreet and Equifax.
3. How to apply
The application process is fairly straightforward — start by going to the Divvy application homepage and walking through the steps.
To start, you'll need key information about your business, such as a legal business name, physical address, entity type, and business EIN or tax ID number. You'll need personal information, such as date of birth and social security number, for everyone who owns 25% or more of the company.
Divvy also requires financial information for your application, including annual business revenue and ideal credit line amount. You'll also need to connect your business bank account to Divvy, which allows the company to verify your bank balance and transactions. Divvy will use the connection to that account for monthly verification to see if you still qualify for services.
Applying for the Divvy card doesn't require a personal guarantee or a credit check. Divvy's approval and offered credit limit are based on your business's financial well-being.
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4. Contact info
The phone number for Divvy customer service is (855) 229-3111. You can also find answers to common questions on the card's help website.
Other methods of contacting the Divvy customer service department include mail:
13707 S 200 W Ste 100
Draper, UT 84020
The Divvy card is a Visa card issued by Cross River Bank.
5. Other stuff you should know
Divvy Travel is the platform used to book and manage travel. Redeeming via Divvy Travel is also the best way to get the most value from your rewards. Divvy Travel can manage travel expenses, allowing you to reward employees that choose more cost-effective hotels.
Alternative credit cards to the Divvy card
- Airbase: not necessarily free, but similar expense management tools; 1.6% cashback on charge cards and 2.2% on prepaid
- Ramp: has expense management tools, due monthly in full, 1.5% cash back across the board (larger cash balance requirement - $75K)
- Brex: for funded companies, complicated funding tier
- Destiny card: great for poor or bad credit
- Self card: secured card for building credit
Or you can check out our guide to high-limit credit cards suitable for businesses.
Final recommendation
The Divvy card is unique for its budgeting and expense management tools. Although lacking for many businesses, its rewards structure is unique and can offer value to those with a lot of spending in certain categories. To maximize the value of your rewards, you have to pay your bill in full each week, which can be a big turnoff for many growing businesses.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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