Prepaid Credit Card

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Tips & Advice to help you make your decision on Prepaid Credit Card

Employing the use of a prepaid credit card in your business is an easy, and budget friendly way to allot money for employees, without letting them go overboard. Before signing up for a card, you want to find the options that will best suit your needs. You can find selections from Visa and MasterCard on their sites, as well as specialty sites and comparison sites. It is important to evaluate more than one card, as they all offer different fees and options.

You won’t find many cards that charge an activation or annual fee. While these cards function as credit cards, they don’t necessarily work the same. Therefore, there won’t be a credit check and you can register them for more than one employee, and still be the one in control. Once you decide on the card that works for you, you can monitor spending and balances from your online account. Regardless of where in the world a particular card is, you can reload it online. The amount will immediately be applied to that card. Your employees will never be without funds, and you’ll still be in control of it. Browse our approved prepaid credit card vendors to the left.

How to Find and Use a Prepaid Credit Card

A prepaid credit card can have many applications within your business. Because the card is prepaid, you are able to control the spending of whoever might be using it. This is an easy way to keep your company budget in check, while giving employees their freedom to take clients on business lunches or out to golf. There are more than enough options for you decide between. However, before you go signing up, you should first consider pricing and options.

Getting a Prepaid Card

You can get a prepaid card from a number of specialty online websites. There are some businesses that have partnered with Visa or MasterCard to create a particular brand of card. These might offer more specialty options. On the other hand, many credit companies simply offer prepaid cards directly through them, which can offer a variety of deals, pricing and options.

· Specialty suppliers such as EuroPay and GreenDot will offer a variety of options that may differ from a standard prepaid card. With some of these cards you can change your money into other currencies. This makes an ideal card for international travel.

· Visa and MasterCard sell prepaid cards directly from their website. Here you can find options for a variety of occasions: TravelMoney card, Payroll card, etc.

· You will also find websites that list a wide range of cards, including both the big names and smaller specialty brands as well. This is a good way to compare, as there are many options all differing in their unique ways. You want to find the card that will best suit your business needs.

Pricing Options

Most prepaid cards are free to sign up. Since these cards simply function as a type of credit card without actually being one, they end up costing minimal. There is no credit check to acquire one, and you have complete control of the funds that are put on and spent. There are varying degrees of activation and annual fees, which depend upon a number of factors.

· Many activation fees are waived if you order online. This ends up being inexpensive for you, and more convenient.

· While some cards ask for a monthly or annual fee, you can often get around this. You can usually load a certain quantity every month, or make a set amount of purchases.

Employee Use

Once you’ve chosen which card to use, you have to issue them to your employees. There are a variety of ways you can allow them to have their freedom with the card. Whether they use it internationally or domestically, this card will still give you full power over their business expenditures. You can do this a variety of ways.

· When employees are travelling internationally, you can provide them with small amounts at a time. With a prepaid debit card you can reload money at anytime online and it will be immediately put on the card. Your employees will never be without money, and you control how much they can have.

· The READYdebit Visa Card will allow up to $10,000 loaded at a time. If you’d rather give more money in case of an emergency, you can do that as well. If you want to watch their spending, you can do so on your online account. Get immediate balance reports via e-mail or text message.

Getting a prepaid credit card for your employees is a smart way to control company spending. You’re able to control the amount allotted to each person and monitor all purchases online. Can’t get any more budget friendly or easy.