Prepaid business credit cards are designed for small business owners who can’t qualify for or don’t want a typical business credit card. They require fewer qualifications than business cards while also limiting the owner’s risk. We compared business prepaid cards to identify the six that can best help a small business owner manage employee expenses.
Best Business Prepaid Card: Bento for Business
Bento for Business is the best business prepaid card option. You can load funds, set spending restrictions by day or by expense category, and turn employee cards on or off with one click. Bento will sync with your accounting software so you can track expenses easily. Best of all, the first two cards are free.
6 Top Business Prepaid Debit Cards May 2019
How We Evaluated Prepaid Cards for Business Expenses
Your business is unlike any other. That’s why we searched for a variety of business debit cards that cater to different types of firms. There are four key criteria we focused on choosing the best prepaid business credit cards: Price, features, scalability, and liability. All of the cards on our list require no credit check.
We considered the following factors based on what owners should look for in a business prepaid card:
- Costs: The monthly charge for using the prepaid debit card. The best prepaid business debit cards are less than $5 per card.
- Number of cards: The minimum and maximum number of cards allowed. The best prepaid business debit cards offer unlimited cards.
- Daily limits: How much you can load and spend daily per account. The best prepaid cards for business expenses have daily limits from $0 to $25,000.
- How to load: The options for depositing more money into the card’s account. Most small business prepaid cards allow you to load funds directly from a mobile device.
- Features: Ancillary benefits included on the card, like account monitoring and purchase protections. Some of the best small business prepaid cards offer insurance, including car rental coverage and purchase protection.
- Customer reviews: How users say the cards help — or hurt — their businesses. Customers say the best prepaid business cards help them control employee spending.
The best prepaid business credit cards offer cost tiers based on the number of cards issued. This allows startup businesses reasonable access and grants larger businesses scalable price breaks. Business prepaid cards are ideal for companies with cash on hand to fund their accounts and no need to build credit as business debit card activity is not reported to credit bureaus.
If you want to build credit without having to put down a cash deposit, consider an unsecured business credit card. Small business credit cards are best for business owners that have personal credit scores of 640 or higher. The best unsecured credit card for you is likely determined by your specific business situation, including the type of rewards you want to earn.
After weighing the criteria businesses should use to choose a business prepaid card, we recommend Bento for Business as our best prepaid business credit card. It’s the cheapest option for small businesses because it offers the first two prepaid business debit cards for free. It also offers among the lowest monthly fees available for owners who need as many as 25 employee cards.