By Ankur Mittal
Updated On June 24, 2022

Business Credit Cards are very similar to regular cards, but these are used for business expenses and not for personal use. Keeping the credit requirements of businesses in mind, most of the major card issuers in India now offer business credit cards. Just like regular cards, these are also offered in different categories like travel, rewards, utility, and many more. Many individuals are aware of business credit cards and a lot of them are not. Some people have heard of the term, but they don’t know how they can get one card for their business. It can be challenging to find the list of the best business credit cards in India and filter out the ones that suit your business. To help you out with all these things, we are here with this detailed article on business credit cards. You can find the list of top business credit cards with their features & benefits, eligibility criteria, the application process, etc. This will help you decide which one seems to be the best fit for you.

List of Best Business Credit Cards in India

There is a wide range of business credit cards available in the Indian market and hence it sometimes becomes difficult to filter out the best ones of them. In this article, you can find the list of the best business cards offered by different card issuers and compare them on the basis of different factors to choose the right one. Keep reading for further information:

Table of Contents

Business Credit Cards: Features and Benefits

Various business credit cards are available in India and have different features and advantages. Some business cards with a higher fee and greater benefits, while others offer basic privileges. Some of the common features and benefits of this credit card are as follows:

  • Credit Limit: The credit limits offered with business credit cards are generally higher than that of regular credit cards. This is because business credit cards are supposed to be used for corporate expenses and a limit like that of the standard card can be too less for a business.
  • Rewards: Just like regular credit cards, business credit cards also offer reward points/cashback or other forms of rewards on all purchases. However, the reward rates might be different in different categories and they may vary for different cards.
  • Travel Benefits: Some business credit cards also offer travel privileges like complimentary lounge access, discounts on travel-related bookings, and many more.
  • Internet Banking: Business Credit Cards can also be managed online via internet banking. One can track their expenses, check their available credit limit, total outstanding amount, etc, by logging in to their netbanking.
  • Other Benefits: Other benefits that business credit cards may offer include entertainment benefits, dining privileges, and many more. Also, card owners can track the expenses of their employees and set spending limits for them.
  • Impact on Credit: Regular Credit Cards always affect the credit scores of the cardholder, but this might not be the case with business credit cards. Some business cards affect the cardholder’s credit score while some of them don’t. Whatever it is, the cardholders should make sure that they use their card responsibly with no payment defaults as these cards are going to affect their business credit score.

Top Business Credit Cards in India

The top business credit cards along with their detailed features & benefits and other necessary information are given below:

SBI Signature Corporate Card

The SBI Signature Corporate Credit Card is a basic business card that comes with a zero joining fee and an annual fee of Rs. 499. There are various features and benefits associated with this credit card and these benefits are across different categories, including travel, insurance, etc. Some of these are as mentioned below:

  • You get complimentary Priority Pass membership that allows you to access over 1,100 airport lounges in the world. However, a usage fee of $27 is charged on every lounge visit.
  • Travel insurance cover worth up to Rs. 1 Crore for your employees.
  • Get concierge services for airline/hotel reservations, car rentals, etc.

SBI Corporate Purchase Card

The SBI Corporate Purchase card is a no-annual fee credit card that comes with decent privileges targeted at business needs. Employers can track the expenses of their employees and set spending limits for them. Some of the important features of this card are as follows:

  • Lifetime free credit card.
  • Employers can restrict the expenses of their employees at selected merchants.
  • Employers can set daily spending limits for their employees.
  • Lost card liability cover.

SBI Corporate Utility Card

The SBI Corporate Utility Card is another business card that is solely aimed at fulfilling the utility payments of a corporate. It allows you to make bill payments conveniently. Some other features of this credit card are as mentioned below:

  • You get a complimentary Fidelity Guarantee Insurance cover.
  • The employees can only make utility bill payments, like gas bills, telephonic bills, electricity bills, etc. And hence they can not make any unnecessary spends.

HDFC Business Regalia Credit Card

The Business Regalia Credit Card issued by HDFC Bank is one of the most popular corporate cards available in the market. It comes with an annual fee of Rs. 2,500 and offers decent reward rate and various other benefits as follows:

  • This card offers 4 Reward Points on every spend of Rs. 150.
  • You get 5% cashback on telecom, utility, and government tax payments (maximum cashback of up to Rs. 500 per statement).
  • The cardholders get access to 12 complimentary domestic lounge access and 6 complimentary international lounge access with Priority Pass.
  • Earn up to 25,000 bonus Reward Points on achieving the spend milestone.

HDFC Business MoneyBack Credit Card

The HDFC Bank Business MoneyBack Credit Card comes with an annual fee of Rs. 500 and is one of the best business credit cards for those who want an affordable card for their business their expenses. The advantages of this card are as follows:

  • With this card, you earn 4 Reward Points on every online spend of Rs. 150 and 2 Reward Points on offline spends.
  • The card offers 5x Reward Points on fuel purchases and 5% cashback on utility, telecom, and tax payments.
  • Up to 2,500 bonus Reward Points on achieving the spend milestone.
  • 1% fuel surcharge waiver on all fuel transactions.

ICICI Bank Business Advantage Black Card

ICICI Bank is also one of the major card issuers in the market and hence issues some great business credit cards like the Business Advantage Black Card. It comes with a joining fee of Rs. 1,500 and annual fee of Rs. 1,000. Some of the great features of this card are as mentioned below:

  • The Business Advantage Black Credit Card offers up to 0.5% cashback on domestic spends and up to 1% cashback on international spends.
  • Concierge services like hotel reservations, booking, and delivery of movie tickets, and many more.
  • 2 complimentary domestic lounge access per quarter.
  • Insurance benefits worth up to Rs. 75 lakhs.

ICICI Bank Business Advantage Blue Card

The Business Advantage Credit Card offered by the ICICI Bank can be considered a toned-down version of the Business Advantage Black Card. It comes with an annual fee of Rs. 500 and provides you with various advantages that are as follows:

  • The card offers up to 1% cashback on domestic as well as international spends.
  • You get 2 complimentary domestic lounge access every quarter.
  • Insurance benefits worth up to Rs. 75 lakhs.

AmEx Business Platinum Card

The American Express Business Platinum Credit Card is another premium and popular card in the Indian market. It rewards you in the form of membership rewards and is suitable for all types of business expenses. The reward rates and other benefits of this card are as mentioned below:

  • It offers 5x Membership Reward Points on flights and prepaid hotel bookings.
  • You get 1.5x Reward Points on eligible business spends and 1x points on other categories.
  • 0% introductory APR for the first 12 months.
  • No foreign currency transaction fee.

Axis Bank My Business Credit Card

The My Business Credit Card issued by Axis Bank is a basic business card that offers a decent reward rate and several other benefits. The card charges joining fee of Rs. 999 and an annual fee of Rs. 499 and provides you with a number of advantages as follows:

  • You earn 100 Edge Reward Points on your first online transactions with this card.
  • 4 Edge Reward Points on every spend of Rs. 200.
  • 2 complimentary domestic lounge access every quarter.

BoB Corporate Credit Card

Bano of Baroda, being one of the trusted banks and card issuers in the country, offers a great business card named BoB Corporate Credit Card. It is a lifetime free credit card and offers several advantages as mentioned below:

  • You earn 1 Reward Point on every spend of Rs. 100.
  • 8 complimentary domestic lounge access every year.
  • Air accident insurance cover worth up to Rs. 1 Crore.

Kotak Bank Corporate Gold Credit Card

The Kotak Bank Corporate Gold Credit Card is issued in two variants including Classic and Basic. The Classic Variant comes with an annual fee of Rs. 1,000 whereas the Basic variant is lifetime free. The features and benefits that are offered under this card are as follows:

  • The employer can decide the credit limit of their employees.
  • Earn Reward points on every purchase made using this card.
  • 1% fuel surcharge waiver on all fuel purchases.

IndusInd Bank Contactless Corporate Credit Card

The IndusInd Bank Contactless Corporate Credit Card is also among the basic business cards available in the Indian market. Some of the significant features of this credit card are as mentioned below:

  • Get access to Priority Pass Membership.
  • Get complimentary airport lounge access every quarter.
  • Get complimentary lost card liability cover.
  • 1% fuel surcharge waiver on all fuel purchases.

Business Credit Cards Eligibility Criteria

Like regular/personal credit cards, business credit cards also have some specific eligibility criteria that need to be fulfilled by the applicants in order to get approved for these cards. These criteria may depend on different factors like age, net worth, the credit score of the applicant as well as the business, etc. Though the eligibility requirements might be different for different card issuers, some of the common requirements are mentioned below:

  • The applicant’s age should be a minimum of 21 years (in most cases).
  • The applicant should be running a verified business.
  • The income requirements may vary for different cards.
  • Business credit score or the credit score of the applicant may also impact eligibility.
  • The applicant should have a strong relationship with the bank (required in some cases).

Documents Required

The list of documents required to apply for a business credit card is comparatively longer than that for personal cards. Following are some of the important documents that you need to submit while applying for a business card:

  • Identity Proof: aadhar Card, PAN Card, Passport, Driving License, etc.
  • Proof of residential address of the applicant as well as the office address.
  • Certificate of business registration.
  • Latest audited ITR.
  • Proof of business continuity.
  • Statement of profit or loss with audited reports.

How To Apply For a Business Credit Card?

You can apply for a business credit card online as well as offline at your convenience. To apply offline, you can visit the nearest branch of the respective bank with all the required documents and apply for the card by filling out the physical application form. To apply online, you will have to follow a few simple steps as mentioned below:

  • Visit the respective bank’s official website.
  • Search for the business/corporate credit cards offered by that issuer.
  • Choose the card you want to apply for and click on the ‘Apply Now’ option under that.
  • Proceed further by filling in the digital application form and uploading the required documents.

FAQs:

Yes, there are several business credit cards that come with a zero annual fee. These cards include SBI Corporate Purchase Credit Card, BoB Corporate Credit Card, and Kotak Bank Corporate Gold Credit Card.

Yes, most card issuers allow card owners/employers to set credit limits for their employees on their business credit cards.

No, the HDFC Regalia Credit Card is issued to an individual for his/her personal use whereas the Regalia Business Credit Card is used for business purposes.

HDFC Bank offers several business credit cards, out of which, the following are the most popular ones:

– HDFC Business Regalia Credit Card.
– HDFC Business MoneyBack Credit Card.

Some of the popular SBI business credit cards are: SBI Corporate Signature Credit card, SBI Corporate Purchase Credit Card, and SBI Corporate Utility Credit Card.

The joining fee of this credit card is Rs. 1,500 and its annual fee is Rs. 1,000.

Comments

Write A Comment

Sign up for the Card Insider Weekly Newsletter!

By providing my email address, I agree to cardinsider.com’s  Privacy Policy

Thanks For Subscribing!

Please confirm the email address

Please verify your email address

Add cards to start comparing

Compare Cards