- Variable Rate
A variable rate is an interest rate that fluctuates over the loan term. Unlike fixed rates, which remain the same for the life of the loan, variable rates change based on an index or underlying benchmark interest rate that changes periodically. Variable rates can be beneficial for borrowers, as their interest rates fall when the index or underlying interest rate declines. However, if these rise, then the interest rates will increase.
- Virtual Card
A virtual card is an online credit card linked to a customer's credit account. The virtual card randomly generates a one-time-use card number, which may expire after a specific period. The user can enter these details at online checkouts to make purchases instead of inputting their physical credit card number. Card issuers tend to offer virtual cards as free services to their customers. This helps to reduce the risk of credit card fraud, as each virtual card number is only valid for one transaction, rendering them useless to fraudsters.
©2020 Brex Inc. “Brex” and the Brex logo are registered trademarks.The Brex Mastercard® Corporate Credit Card is issued by Emigrant Bank, Member FDIC. Terms and conditions apply. See the Brex Platform Agreement for details.Brex Inc. provides a corporate card. Brex Treasury LLC is an affiliated SEC-registered broker-dealer and member of FINRA and SIPC that provides Brex Cash, a program that allows customers to sweep uninvested cash balances into certain money market mutual funds. Investing in securities products involves risk, including possible loss of principal. Neither Brex Inc. nor any of its affiliates is a bank. Please see brex.com/cash for important legal disclosures.