Owning a business is not an easy thing. For most people, it involves learning a lot of things and keeping up with finances all the time. If you are not a financial expert, then you should think about getting a business credit card for your business needs. Businesses often require large sums of money to invest in their projects or grow their businesses. To get this money in the quickest possible way, most businesses opt for business credit cards.
Business Credit Cards in India
Indian business credit card providers charge a fee to the business owner. The rates of interest are low so the fee is not an additional burden. Business credit cards help companies make small purchases do a large number of cash advances quickly at virtually no cost, this also allows you to control expenses so that bad loans will
Small Business Credit Cards In India
There are business credit card providers who offer the best small business credit cards in india
which suit the need of a small business owner. These types of card charges lower interest rate rates, cash advance fees and reward points which mean that no one intends to pay any extra fee for their plans
Features and Benefits of Business Credit Cards:
Business credit cards offer the owner a number of benefits. These can include:
List of Business Credit Cards in India rates – business credit card providers usually has interest rates that are much lower than those of personal credit cards. This means that you will not have to pay high fees when you borrow money from your card
List of best credit card in India
State Bank of India
Bank of Baroda
Top Business Credit Cards In India:
SBI Platinum Corporate Credit Card
The SBI Platinum Corporate card was designed with the Indian corporate client in mind and his/her business needs in mind. The card is on the VISA platform, and the cardholder can maintain track of his/her organization’s expenses using the Visa IntelliLink tool. With the previous month’s outstanding having been cleared, interest-free credit is available for a period of 20-50 days on retail spending. Over 24 million outlets across the world enjoy broad acceptance. The card can be assigned to daily, weekly, and daily limits, allowing for greater financial management.
HDFC Business MoneyBack Credit Card
The HDFC Business MoneyBack credit card provides higher rewards for purchases done through the card, as well as exclusive deals and offers. From the date of purchase, cardholders can also experience 50 days of interest-free transactions on their card. Cardholders can use up to three times the reward points on air, travel, hotel booking, dining, and e-commerce spending made through the card if they choose to. Cardholders will also be eligible for priority access to airport lounges across India. Reward points won can be used to redeem Air Miles or cashback against the outstanding amount due (100 reward points = Rs.40 for cashback purposes).
Axis My Business Credit Card
The Axis Bank My Business credit card is tailored to adapt to every business need and enhance business efficiency by incorporating a variety of special features and benefits for the corporate cardholder. When cardholders book base fare flights on Ezeego with their My Business credit card, they can obtain 20% cashback. VISA ATM’s across the world can draw cash accounts that account for up to 30% of the credit limit. When paying with the My Business credit card, you will get a 2.5% surcharge refund on all fuel consumed at petrol pumps across the country.
Citibank Corporate Credit Card
The Citibank Corporate credit card provides access to top-of-the-line automation and higher savings, thanks to a streamlined expense report for travel and entertainment spending. On purchases done through the card that never ends, you will get rewards points. Convenience through one-glance statements that provide a thorough list of all related cards. When purchased using the Citibank Corporate credit card, you will benefit from exclusive savings and offers such as 20% off on dining spends in India and up to 55% discounted on travel, hotel stays, and car rentals. The Visa IntelliLink Spend Management tool can access statement information from anywhere in the world.
Kotak Corporate Credit Card
Kotak corporate credit card offers come packed with features designed to sway the corporate customer, from savings opportunities to greater control over employee spending. Available in Gold and Platinum variants, the card provides a convenient way to meet expenses.
The card provides a 2.5% fuel surcharge waiver across all petrol pumps in India.
All purchases made through the credit card are insured for a period of 6 months from the date of purchase. In the event that an item is lost due to theft or fire, the cardholder can claim insurance of up to Rs.50,000 for the item.
A company can choose the credit limit assigned to employees, providing greater control on spending and access to funds.
Best Business Credit Cards in India – Compare & Apply for Online
There are many business credit cards to choose from in India. Here in this article, we have listed the best business credit cards that offer great features such as rewards points and insurance cover. Use the filters on the left to compare different cards and find the right one for you.
Business Credit Card Requirements
Before applying for a business credit card, it is important to check the card requirements. Each card has its own eligibility criteria, so make sure you meet the minimum requirements before applying. The following are the most common card eligibility requirements:
-In order to be eligible for a business credit card
1. Your Business’s Legal Name
Provide your registered company details.
2. Contact Information for Your Business
Next, you’ll need to provide your business’s mailing address and phone number. If you work from home, you can list your home address.
3. Industry Type
4. Business Entity or Legal Structure
5. Time in Business and Number of Employees
6. Federal Tax ID
7. Annual Business Revenue and Estimated Monthly Spend
8. Total Annual Income
9. Legal Name, Contact Information, and Social Security Number
10. Personal Credit History
11. Personal Guarantee
Reasons why you must take a Business Credit Card
The first five reasons why you should have a business credit card are listed below:-
having a business card is one of the best ways to establish a credible reputation for your business.
It will raise your purchasing power by keeping a single credit card for business expenses.
It is critical to split your business expenditures from your personal ones if your business is a corporation or a private limited company. getting the same thing with a business credit card is easy.
You can win effective control while maintaining a tab on their spending by granting business credit cards to your employees. To help your business, you can use your business credit card. some credit card companies provide you with the latest in business and tracking tools.
Business Credit Cards- Eligibility and Documents Required
To verify the information provided in the application form, you must submit some documents. Business credit cards can be issued under the names of the organization or the organization’s members. The documents required will differ, and only 1 of each category is requested to be submitted. The following are financial documents that use for business credit cards.
How to Apply for a Business Credit Card?
You can apply for a Business Credit Card both offline as well as online.
Steps to apply for Business Credit Card Offline
- Visit the nearest bank branch and ask about your preferred card variant.
- The representative will tell you about the cards that match your requirements.
- You will have to fill the application form and provide some documents such as identity proof, address proof, income proof, passport-size photographs etc.
Steps to apply for Business Credit Card Online
- You can visit the official website of the preferred bank and apply for a credit card by filling out some basic details like name, email ID, contact number, income, address, etc.
- You will get a call from a representative of the respective bank who will guide you through the process.
- A representative will also come to collect your documents at your doorstep.
After this, the bank will check the documents and, if satisfied, issue the credit card.
Also Read: Best Credit Cards for Defence Personnel in India
Business credit card annual fee
It depends open which bank credit card you select every bank charge nominal annual fees.
Frequently Asked Questions (FAQs)
Credit Card by Banks
SBI Credit Card
RBL Credit Card
Citibank Credit Card
ICICI Bank Credit card
Standard Chartered Bank Credit Card
HSBC Bank Credit Card
Punjab National Bank Credit Card
IndusInd Bank Credit Card
AXIS Bank Credit Card
Kotak Mahindra Bank Credit Card
Credit Card Offers
Credit Card Offers in India
HDFC Credit Card Offers
SBI Credit Card Offers
Citibank Credit Card Offers
AXIS Bank Credit Card Offers
ICICI Credit Card Offers
Kotak Credit Card Offers
Standard Chartered Credit Card Offers
Indusind Bank Credit Card Offers
Flipkart Credit Card Offers
MakeMyTrip Credit Card Offers
Credit Card Reward Points
HDFC Credit Card Reward Points
SBI Credit Card Reward Points
ICICI Credit Card Reward Points
Citibank Credit Card Reward Points
AXIS Bank Credit Card Reward Points
Kotak Credit Card Reward Points
Standard Chartered Credit Card Reward Points
HSBC Credit Card Reward Points
LIC Credit Card Reward Points
PNB Credit Card Reward Points
How to Use Credit Card Reward Points
Banks Credit Card Eligibility
SBI Credit Card Eligibility
HDFC Credit Card Eligibility
ICICI Bank Credit Card Eligibility
AXIS Bank Credit Card Eligibility
IDBI Credit Card Eligibility
Credit Card Bill Payment
SBI Credit Card Bill Payment
Citibank Credit Card Bill Payment
Standard Chartered Credit Card Bill Payment
Credit Card Bill Payment
AXIS Bank Credit Card Bill Payment
HSBC Credit Card Bill Payment
HDFC Bank Credit Card Bill Payment
ICICI Bank Credit Card Bill Payment
IndusInd Bank Credit Card Bill Payment
LIC Credit Card Bill Payment
Credit Card Types
SBI Simply Save Credit Card
AXIS Bank Neo Credit Card
AXIS Bank My Zone Credit Card
SBI Platinum Credit Card
SBI Card Elite
HSBC Platinum Credit Card
SBI IRCTC Credit Card
HDFC Regalia First Credit Card
SBI Gold Credit Card
Standard Chartered Super Value Titanium Credit Card
Citibank Cashback Card
How do you get a business credit card?
A: The credit card business would require the business owner to have a personal credit card with good credit scores. Earlier it was also possible to get business credit cards in the form of that secured account number, but not anymore as many financial institutions stopped offering such accounts for shoppers and small businesses alike.
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