The best prepaid business card is Bento for Business because it has low fees and a tiered pricing structure, meaning as you add more cards to the account, the cost-per-card goes down. Bento for Business also has special features such as the option to set spending restrictions by day or by category.
Best Prepaid Business Cards
Bento for Business
PEX Visa® Core Business Prepaid Card
The dash™ Prepaid Mastercard®
Mastercard Business Prepaid Card
Netspend Small Business Prepaid Mastercard
Emburse Prefunded Mastercard
Prepaid Cards for Business vs. Business Credit Cards
It’s important to note that the term "prepaid business credit card" is misleading. There are business credit cards, business debit cards, and business prepaid cards, but those are all separate products that fulfill different needs. For example, prepaid cards do not build credit. That’s because unlike credit cards, prepaid cards don’t report your account activity to the credit bureaus.
A secured business credit card such as the Wells Fargo Business Secured Credit Card is the closest thing you’ll find to a prepaid business credit card. The card requires a refundable security deposit that establishes your spending limit, which means you’re basically pre-paying for your purchases while you build credit.
The easiest business credit card to get is the Wells Fargo Business Secured Credit Card because it accepts applicants with bad credit. The Wells Fargo Business Secured Credit Card also has a $0 annual fee and rewards cardholders with 1.5% cash back on all purchases. A minimum security deposit of $500 is required, though.… read full answer
In general, the easiest credit cards for a business to get require bad-to-fair credit for approval. It’s also worth noting that while you must have a business to get most of these cards, your personal credit history matters a lot more than your company’s credit standing.
As you can see, there are a few easy approval business credit cards available, so you shouldn’t let limited or damaged credit prevent you from getting the card your business needs. And remember, if you pay your bills on time and keep your credit utilization ratio low, your credit should steadily improve over time.
You need a credit score of 700 or higher to get the best business credit cards. The top business credit cards usually require at least good credit for approval, but there are still options for small business owners with fair, limited or bad credit. In other words, you can get a business credit card with pretty much any credit score, though the most attractive offers are reserved for the most creditworthy applicants.… read full answer
By the way, it’s your personal credit rating that really matters, even though you’re applying for a business credit card. The higher your score is, and the more income you have relative to your debt, the better your chances of approval will be.
Popular Business Credit Cards by Credit Score Requirement
In general, good-to-excellent credit gets you access to the biggest sign-up bonuses, the highest ongoing rewards rates, and lots of options with no annual fee. People with lower scores are more likely to have to choose between low fees and other perks.
If you’re wondering why credit card companies rely on personal credit to evaluate business credit card applications, a lot has to do with personal credit histories usually being longer than the business version. Since they’re longer, they tend to be more predictive. Most credit card companies also consider a business owner’s personal finances to be intertwined with the business. That’s often true, since personal savings are the top source of start-up capital for new businesses.
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