Federal BankBusiness 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:
- HDFC Bank Corporate Premium Credit Card
- ICICI Bank Business Advantage Black Card
- HDFC Bank UPI RuPay Biz Credit Card
- AU Bank Business Cashback Rupay Credit Card
- American Express Platinum Corporate Card
- Axis Bank Executive Corporate Credit Card
- SBI Signature Corporate Card
- HDFC Business Regalia Credit Card
- Paytm HDFC Bank SELECT Business Credit Card
- American Express Corporate Card
- YES FIRST Business Credit Card
- HDFC Bank Corporate Platinum Credit Card
- HDFC Bank Business MoneyBack credit card
- HDFC Purchase Credit Card
- Paytm HDFC Bank Business Credit Card
- American Express Purchasing Solutions
- American Express Corporate Meeting Card
- YES PROSPERITY Business Credit Card
- SBI Corporate Purchase Credit Card
- SBI Corporate Utility Credit Card
- Axis Bank MY Business Credit Card
- Bank of Baroda CORPORATE Credit Card
- IndusInd Bank Contactless Corporate Credit Card
- HDFC Bank Purchase Premium Credit Card
Fees
Joining Fee
Renewal Fee
Best Suited For
Travel
Reward Type
Reward Points
Welcome Benefits
Card Details +
The card is made to make the travel purposes of the corporates premium and covered with Insurance benefits. Following are the features of the card.
• 5 reward point for every Rs. 150 spent.
• 1% fuel Surcharge waiver.
• 20 complimentary access to domestic airport lounges.
• 6 complimentary access to international airport lounges.
• Greater savings, Reconciliation and reporting tools.
Fees
Joining Fee
Renewal Fee
Best Suited For
Travel
Reward Type
Reward Points
Welcome Benefits
Card Details +
• 1% cashback on every eligible spend.
• 1% fuel surcharge waiver at all HPCL petrol pumps.
• 2 complimentary domestic lounge access.
• Spend based Annual and Renewal Fees Waiver.
• Personal air accident death insurance cover of up to 75 lacs and many other benefits.
Fees
Joining Fee
Renewal Fee
Best Suited For
Shopping
Reward Type
Cashback
Welcome Benefits
Card Details +
HDFC Bank UPI RuPay Biz Credit Card is a virtual credit card with which the user will not receive any physical card. The key feature of having this credit card is it has cash points as its reward type. You can earn up to 3% cash points on groceries, supermarkets & dining spending; 2% cash points on utility spending, and 1% cash points on any other spending. This business credit card comes with a credit-free period of 50 days from the day of purchase along with milestone benefits such as a spend base waiver with just a minimal amount of Rs. 25,000 in an annual year.
- 3% Cashpoints on groceries, Super Market, and Dining expenses
- 2% cash points on all the Utility spends.
- 1% Cashpoints on every other spend.
- 50 days of the interest-free period.
- Renewal membership fee waiver at a minimum spend of Rs. 25,000.
- Cashpoints accumulated against the expenses can be redeemed against the flight bookings, hotel bookings, the statement, etc.
- 1% fuel surcharge waiver.
Fees
Joining Fee
Renewal Fee
Best Suited For
Shopping
Reward Type
Cashback
Welcome Benefits
Card Details +
The AU Bank Business Cashback RuPay credit card is exclusively for small businesses and self-employed people. The card offers benefits like 1% cashback, instant loans, complimentary railway lounge access, fire, housebreaking, and burglary insurance, etc. that help individuals streamline business requirements and manage cash flow. Also, the card comes at a low Rs. 99 monthly fees which can be waived off on spending Rs. 10,000 or more in the card statement cycle.
- 1% cashback on repayment of Total Amount Due on their credit card bill
- Instant loan is available on the credit card
- 1% fuel surcharge waiver, maximum benefit of Rs. 200 per month
- Up to 30% discount at partner restaurants with the Silver Spoon Dining program
- 8 complimentary railway lounge access, max 2 per quarter
- Business insurance, fire, burglary, and housebreaking insurance, card liability cover, and air accident cover
Fees
Joining Fee
Renewal Fee
Best Suited For
Travel
Reward Type
Reward Points
Welcome Benefits
Card Details +
• Complimentary membership to Taj Reimagined Epicure membership.
• 1 Membership Rewards Point for every Rs. 100 spent
• 1 Membership Rewards Point for every Rs. 40 on all other spending
• Complimentary access to 1200+ lounges under American Express Global Lounge Collection.
• Hertz Gold Plus Rewards membership.
• 1% fuel surcharge waiver.
Fees
Joining Fee
Renewal Fee
Best Suited For
Travel
Reward Type
Reward Points
Welcome Benefits
Card Details +
• 4 Reward points for every Rs. 200 domestic spends.
• 8 Reward points for every Rs. 200 international spends.
• Complimentary access to domestic and international lounges.
• Airport Concierge services.
• 20% off at Restaurants across India.
Fees
Joining Fee
Renewal Fee
Best Suited For
Travel
Reward Type
Reward Points
Welcome Benefits
Card Details +
• Spend Based control over the card.
• Complimentary access to airport lounges with Priority pass membership.
• Insurance covers for fraud and travel related covers.
• 24X7 Concierge services.
Fees
Joining Fee
Renewal Fee
Best Suited For
Travel
Reward Type
Reward Points
Welcome Benefits
Card Details +
• 4 Reward Points on every transaction and 5% Cashbacks on eligible payments.
• 12 Complimentary lounge access at domestic and international level.
• 1% fuel surcharge waiver.
• 20% off on Dining transactions.
• Priority pass membership.
• Insurance covers like air accident and emergency medical expenses.
Fees
Joining Fee
Renewal Fee
Best Suited For
Shopping
Reward Type
Reward Points
Welcome Benefits
Card Details +
The card also covers insurance benefits like personal death cover and permanent disability covers as well, along with the Zero Liability protection on the card. Also, the Paytm First Membership is offered as a welcome gift with the card, along with several travel benefits and much more like:
• 5% Cashbacks in Paytm mall
• 3% Cashbacks on travel and monthly bill payments through Paytm and 1% cashback on other spends.
• 12 Complimentary Domestic Lounge access.
• 1% Fuel surcharge waiver.
Fees
Joining Fee
Renewal Fee
Best Suited For
Travel
Reward Type
Reward Points
Welcome Benefits
Card Details +
• 1 Membership Rewards Point for every Rs. 100 spent on Fuel, Telecom, Utilities and Insurance.
• 1 Membership Rewards Point for every Rs. 50 on all other spending.
• Business Travel Accident Insurance and Travel Inconvenience Insurance
• 2 complimentary lounge access in 12-month period with Priority Pass Programme.
• Discounted access across domestic airport lounges.
Fees
Joining Fee
Renewal Fee
Best Suited For
Travel
Reward Type
Reward Points
Welcome Benefits
Card Details +
• 8 Reward Points for every Rs. 200 on all categories
• 4 Reward Points for every Rs. 200 on Select categories
• Foreign currency markup fee of 1.75%.
• Complimentary Domestic and International Lounge access.
• Great Milestone and spend based waiver benefits.
Fees
Joining Fee
Renewal Fee
Best Suited For
Travel
Reward Type
Reward Points
Welcome Benefits
Card Details +
The HDFC Bank Corporate Platinum Credit Card is a reward-based card, the more you spend, more reward points it offers. The card provides reward points for every business transaction. Redeem the reward points earned for miles against international as well as the domestic airlines, hotels and many other catalogue options. The card provides other benefits like fuel surcharge waiver and an advanced reconciliation process. Also, the card offers complimentary airport lounge access and insurance protection of up to Rs. 1 crore. Following are some of the features of the card:
• 3 reward points for every Rs. 150 spent.
• 8 domestic lounge access.
• 1% fuel surcharge waiver.
• Corporate liability waiver insurance.
Fees
Joining Fee
Renewal Fee
Best Suited For
Dining
Reward Type
Reward Points
Welcome Benefits
Card Details +
Some of the key features of the Business Moneyback credit card are as follows:
• 4 Reward Points on Rs. 150 spent online
• 2 Reward Points on Rs. 150 spent on all other transactions.
• 5X Reward Points on Fuel transactions.
• 1% fuel surcharge waiver
Fees
Joining Fee
Renewal Fee
Best Suited For
Shopping
Reward Type
Reward Points
Welcome Benefits
Card Details +
• Better control on expenses.
• Control over the transactions and vendor categories.
• Fuel Surcharge of 1% to 2.5%.
Fees
Joining Fee
Renewal Fee
Best Suited For
Shopping
Reward Type
Reward Points
Welcome Benefits
Card Details +
• 3% Cashbacks in Paytm mall
• 3% Cashbacks on monthly bill payments through Paytm and 1% cashback on other spends.
• 1% Fuel surcharge waiver.
• Gift Voucher worth Rs. 250 as an activation benefit.
• Spend based Fees waiver and great Milestone benefits.
Fees
Joining Fee
Renewal Fee
Best Suited For
Reward Type
Reward Points
Welcome Benefits
Card Details +
• Streamlined Procure-to-pay process.
• Better control over the card.
• Efficient expense management with @Work.
• Zero Liability protection in case the card is lost.
Fees
Joining Fee
Renewal Fee
Best Suited For
Reward Type
Reward Points
Welcome Benefits
Card Details +
• Renewal Fees of Rs. 2,100
• Better control over the Meeting Expenses.
• Zero Liability protection in case the card is lost.
• Lesser dependence on paperwork
Fees
Joining Fee
Renewal Fee
Best Suited For
Travel
Reward Type
Reward Points
Welcome Benefits
Card Details +
• Foreign currency markup fee of 2.50%.
• 4 Reward Points for every Rs. 200 on all categories.
• 2 Reward Points for every Rs. 200 on Select categories.
• 3 complimentary international Lounge access at airports outside India
• 1 complimentary Domestic Lounge access per quarter.
Fees
Joining Fee
Renewal Fee
Best Suited For
Reward Type
Reward Points
Welcome Benefits
Card Details +
• Lifetime free credit card
• Smarter Expense Management.
• Spend analysis for controlling expenses better with Visa Intellilink
Fees
Joining Fee
Renewal Fee
Best Suited For
Reward Type
Reward Points
Welcome Benefits
Card Details +
• Pay utility bills in a simple, fast and secure way,
• multi-layer Spend controls.
• Customized MIS & Analytics capability
Fees
Joining Fee
Renewal Fee
Best Suited For
Movies
Reward Type
Reward Points
Welcome Benefits
Card Details +
The Axis Bank MY Business Credit Card is a reward-based card offered for businesses to earn more out of the usual business transactions. You also get complimentary airport lounge access and a fuel surcharge waiver. Also, the card offers an Easy EMI option to convert every transaction into EMI. Following are the features of the card:
• 4 Reward Points for every Rs. 200 spent.
• Double reward points in your birthday month.
• Complimentary Airport Lounges within India.
• 1% Fuel Surcharge Waiver on all fuel transactions.
Fees
Joining Fee
Renewal Fee
Best Suited For
Travel
Reward Type
Reward Points
Welcome Benefits
Card Details +
• 1 Reward Point for every Rs. 100 spent.
• 8 complimentary airport lounge access annually.
• Insurance protection for air accident death and non-air accident.
Fees
Joining Fee
Renewal Fee
Best Suited For
Travel
Reward Type
Reward Points
Welcome Benefits
Card Details +
• 2 complimentary lounge visits per quarter with the Visa Lounge program
• Insurance covers for the employees.
• 1% Fuel surcharge waiver.
Fees
Joining Fee
Renewal Fee
Best Suited For
Shopping
Reward Type
Reward Points
Welcome Benefits
Card Details +
HDFC Purchase Premium Credit Card is one of the Corporate Credit Cards issued by HDFC. With HDFC Bank Purchase Premium Credit Card you can earn 5% cashback (up to Rs. 1500 per statement cycle on a minimum monthly spend of Rs. 50,000). 4 reward points for every Rs. 150 spent and much more. There are many other added benefits such as up to 50 days of credit period on the Purchase Premium Credit Card.
- 5% cashback on your monthly spending
- 4 reward points for every Rs. 150 spent
- Reward redemption rate is 1 RP = 0.20 paisa
- 2.5% forex markup fee
- 1% fuel surcharge waiver of up to Rs. 500
- 50 days of credit period on the card
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.
Tips on Using Business Credit Cards
If used wisely, Business Credit Cards can help to maintain the business credit score and will help in maximizing savings in business transactions. Therefore, the following mentioned tips would help you to use a business credit card wisely:
- When using a credit card, try to settle the outstanding amount as soon as possible. As the finance charges associated with a credit card are too high, you don’t want to fall into debt traps just because of late payments. Therefore, always try to settle the credit card bills on time and avoid any late charges or interest rates.
- If your credit card offers great privileges like complimentary airport lounge access, a great reward rate, etc, it is beneficial to utilize those benefits in full. For example, for your business trips, having a credit card that offers lounge access will provide you with comfort.
- Many business credit cards come with a spending tracking feature which helps to track and manage all the business transactions happening on the card.
How to Build Business Credit Score Step By Step
A business credit score signifies past performance according to the credit report. A credit card can help a lot in maintaining and even increasing a credit score. The following mentioned tips will help you to maintain or build a business credit score:
- It is always advisable to settle the credit card bill before the due date. Doing so, it leaves a positive impact on your credit score as you are paying the bills on time.
- Always try to use a credit card under the credit limit assigned. Spending above the credit limit will only make your score look bad. If your expenses are too big, then you can ask the bank to raise the limit on your card.
- If you have used the EMI facility on your card, then always try to pay the EMIs on time. One mistake or one late payment can directly impact the score.
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.
A small Business credit card is designed to help small businesses manage and track their expenses. These cards also provide them with great benefits on their usual business transactions.
No, the rewards earned with credit cards are not taxable.
Yes, you can get a business credit card under your name. But that doesn’t mean that you can use the business card for your personal use.
When you apply for a business credit card, banks generally do a pre-check on your credit history and check whether your report is favorable or not. This may sometimes lower your score but in a minimal manner.
Find the perfect credit card in India by comparing the most rewarding options in one place!