In the midst of a credit crunch, there's still business to be done. And if you're bumping up against credit limits, it may be time to look to debit cards. They offer more accountability than cash and are as easy as a credit card to use. This can be especially useful for making travel reservations.
Debit cards can be used for any size purchase and the amount available is however much is in the account, or in the case of a prepaid card it depends on how much is put on the card. You will be in control of what you can spent, not dependent on whatever amount a bank assigns as your limit. And just like credit cards, you can give one to each employee who makes purchases for the company.
It’s easy to set up and makes reporting on expenses hassle-free. Toffer Grant is PEX's Founder and CEO. He founded PEX in 2006 as a prepaid card solution for small businesses. His background in the prepaid industry began at Clarity Payment Solutions, where he initiated 65 prepaid card programs in consumer, corporate, and emerging verticals of the prepaid card industry.