By Ankur Mittal
Updated On September 3, 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.

Best Business Credit Cards in India 2022

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

HDFC Corporate Premium Credit Card

Welcome Benefits

NA

Rewards Rate

Get 5 Reward Points for every Rs. 150 spent (Maximum of 10,000 reward points per statement cycle)

Joining Fees

Nil

The HDFC bank Corporate Premium Credit Card is a premium card offered by the HDFC Bank for the corporates to get benefits like reward points for every business transaction. The card has no fees which makes it more popular, along with the travel benefits it offers. The card offers 5 reward points for every business transaction of just Rs. 150, making it easier to collect tons of reward points. One can redeem this reward points for air ticket bookings, hotel bookings and even for miles. The cardholder gets other benefits like fuel surcharge waiver, corporate liability waiver and much more.
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.

Welcome Benefits

NA

Rewards Rate

Cashback every month up to 1% on every eligible spends.

Joining Fees

Rs. 1,500 (plus applicable taxes)

The ICICI Bank Business Advantage Black Card is a cashback rewarding card designed for businesses to save more on all business spends. The more you spend, more you earn as cashbacks. Earn cashbacks on your travel, car rentals, professional services and other expenses. The card offers complimentary domestic airport lounge access, along with the 24X7 concierge services. It also provides zero liability protection as well as the fuel surcharge waiver. Some of its additional advantages are as follows:
• 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.
American Express Platinum Corporate Card

Welcome Benefits

Complimentary membership to Taj Reimagined Epicure membership and Hertz Gold Plus Rewards membership.

Rewards Rate

1 Membership Rewards Point for every Rs. 100 spent on telecommunications, insurance, fuel and other utility services and 1 Membership Rewards Point for every Rs. 40 spent on all other spending.

Joining Fees

Nil

The American Express Platinum Corporate Card is a top-notch credit card exclusively made for the corporates to enjoy the luxurious benefits and rewards in travel, dining and much more. The card comes with Taj Epicure membership to enjoy heavy discounts across dining, hotel stays, spas and much more and with Hertz gold plus membership to enjoy car rentals from anywhere in the world. The Express Platinum Corporate Card offers Amex membership rewards which the cardholder can redeem for vouchers, transfer to partners, cover charges with them and many other ways. On top that, the card provides unlimited access to over 1200 airport lounges across the globe with the American Express Global Lounge Collection, along with the platinum travel services designed exclusively for the Amex platinum cardholders. The card also provides many other services like zero liability protection and insurance covers as well. Following is the list of features of the card:
• 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.
Axis Bank Executive Corporate Credit Card

Welcome Benefits

NA

Rewards Rate

Get 4 Reward points on domestic spends of Rs. 200 and 8 Reward points on international spends of Rs. 200.

Joining Fees

Rs. 3,500 (plus applicable taxes)

The Axis Bank Executive Corporate Credit Card is a reward point offering card with tons of points on every domestic or international business spends. Apart from that, it offers several benefits in travel, golf, fuel, dining and much more. The card offers premium services like golf rounds every year, 24/7 Concierge service and complimentary domestic as well as international lounge access. It also offers great dining benefits, travel benefits and fuel surcharge waiver also. The card offers features like:
• 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.
SBI Signature Corporate Card

Welcome Benefits

NA

Rewards Rate

NA

Joining Fees

Nil

SBI Signature Corporate card is an Expense/Spend analysing and managing card that helps corporates to spend smarter and save smarter. Corporates can have a spend control over the card in the form of category control or limit control. Apart from that, the card provides insurance benefits for fraud related cover and travel related cover as well. Also, complimentary access to the airport lounges is provided with the card too. Following are the features of the card:
• 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.
HDFC Business Regalia Credit Card

Welcome Benefits

NA

Rewards Rate

4 reward points on every spend of Rs. 150.

Joining Fees

Rs. 2,500 (plus applicable taxes)

HDFC Bank Business Regalia Credit Card is a luxurious offering by the HDFC bank providing fine privileges. The card offers Reward Points on every business transaction and great cashbacks as well. Apart from this, the business regalia offers many benefits for business travel to make it luxurious with complimentary lounge access at domestic and international lounges. Insurance benefits like accidental air death, flight delay and many more are offered with the business regalia card. The card also offers spend based benefits to waive the annual fee of Rs. 2500 and great milestone benefits to get bonus reward points. You can also enjoy the benefit of 24X7 concierge services, also the fuel surcharge waiver of 1%. On top that, the card offers priority benefit with which you can avail additional lounge access for the primary as well as for the add-on cardmembers. It offers several other benefits like:
• 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.

Welcome Benefits

Get complimentary Paytm First Membership as a welcome gift on making your first transaction worth Rs. 100 or more.

Rewards Rate

Get 5% cashback on all purchases in Paytm Mall, 3% cashback on all purchases in Travel & monthly bill payments on Paytm App and 1% cashback on all other spends.

Joining Fees

Rs. 1,000 (plus applicable taxes)

The Paytm HDFC Bank Select Business Credit Card is a Co-Branded Credit card in partnership with Paytm. The card offers wide range of cashbacks on every business transaction done on Paytm. The card has been exclusively designed for the businesses, where most of the payments are done through the Paytm App. Cardholders can enjoy tons of cashbacks with the Paytm HDFC Bank Select Business Credit Card for every other transaction on the Paytm. Along with that, the card offers complimentary airport lounge access to make business travels luxurious.
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.
American Express Corporate Card

Welcome Benefits

NA

Rewards Rate

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.

Joining Fees

Nil

The American Express Corporate card is reward-based card which provides reward points benefit and other benefits like cost/expense management tools beneficial for the corporates as well as for the employees. The card comes with complimentary lounge access at international lounges, also provides discounted access to domestic lounges. With @Work manage expenses efficiently along with effective strategies and much more. The card also offers Zero Liability protection to the cardholders and many insurance benefits. Following are the features of the card:
• 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.
Yes First Business Credit Card

Welcome Benefits

NA

Rewards Rate

8 Reward Points per Rs. 200 you spend on all categories, 4 Reward Points per Rs. 200 spent on Select categories.

Joining Fees

Rs. 999 (plus applicable taxes)

The YES FIRST Business Credit Card is reward point offering credit card designed for the businesses to get more out of their business transaction. The card offers many great benefits and fine privileges like complimentary domestic as well as international lounge access, as well as golf lessons every month. Apart from that, the card offers great reward points which can be redeemed for tons of options. The most stupendous part of the card is that, the foreign markup fees on the card is just 1.75%, which is must lower businesses cards that charges around 3.5% on the transaction amount. There are many other benefits with the card like:
• 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.
HDFC Corporate Platinum Credit Card

Welcome Benefits

NA

Rewards Rate

3 Reward Points on every Rs 150 spent

Joining Fees

Nil

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.

HDFC Business MoneyBack credit card

Welcome Benefits

NA

Rewards Rate

4 Reward Points on every Rs 150 spent online and 2 Reward Points on every other spent

Joining Fees

Rs 500 (plus applicable taxes)

The HDFC Business Moneyback Credit Card offered by the HDFC bank is very beneficial to earn great reward points on every business transaction. As the name suggests, the card offers the cardholders the opportunity to get reward points in return of the transactions performed. The card offers tons of points for every spend on online purchase, fuel and offers cashbacks on telecom, utility payments, tax payments and much more as well. The cardholder can redeem accumulated Reward Points for Cashbacks, for gifts, reward catalogue and even for airmiles. The card also offers great dining benefits like 20% off on dining bills through DineoutPAY, fuel surcharge waiver, great milestone benefits and spend based waiver opportunities.
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

Welcome Benefits

NA

Rewards Rate

NA

Joining Fees

Nil

HDFC Purchase Credit Card has been designed to help corporates to streamline the purchase process and to increase the efficiency as well. The cards help to keep a better control over the business expenses. HDFC Purchase Credit Card helps the corporates in managing all the direct expenses of the company which can be centrally accounted. The features of the purchase card are:
• Better control on expenses.
• Control over the transactions and vendor categories.
• Fuel Surcharge of 1% to 2.5%.
Paytm HDFC Business Credit Card

Welcome Benefits

Get complimentary Paytm First Membership as a welcome gift on making your first transaction worth Rs. 100 or more.

Rewards Rate

3% unlimited cashback on all card spends (Non-EMI spends) and 1% cashback on all other spends.

Joining Fees

Rs. 500 (plus applicable taxes)

The Paytm HDFC Bank Business Credit Card is Co-branded card similar to The Paytm HDFC Bank Select Business Credit Card but with lower fees. The Card offers great cashbacks on every spend made on the Paytm App. The card also provides complimentary Paytm first membership for better rewards and offers. Also, the cash advance fees are revered for the 1 withdrawal in a calendar month. With Paytm HDFC Bank Business Credit Card you enjoy great milestone benefits additional gift vouchers and also the benefit of waiving the Joining as well as the renewal fees. The card also comes with Zero liability protection which covers any fraudulent activity done on the card once you report the same to the bank. Following are the features of the Paytm business card:
• 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.

Welcome Benefits

NA

Rewards Rate

NA

Joining Fees

Nil

The American Express Purchasing Solutions card by the American Express is one of the best cards in the corporate category designed to make purchase transactions simplified and streamlined. The card reduces the dependence on the paperwork and thereby, making the purchase process faster and convenient both for the supplier and the departments involved in the process, like purchase, account payable and others. With the Amex Purchase card, corporate can have a better control over the transactions done by the employees. It imparts the ability to set the daily or monthly limit which can be accessed. Following are the features of the card:
• Streamlined Procure-to-pay process.
• Better control over the card.
• Efficient expense management with @Work.
• Zero Liability protection in case the card is lost.
American Express Corporate Meeting Card

Welcome Benefits

NA

Rewards Rate

NA

Joining Fees

Nil

The American Express Corporate Meeting Card is a very basic card designed specifically for the better management of business meetings, conference meetings, association meeting and other corporate event’s expenses. The card helps to track each and every transaction along with greater visibility. Following are the features of the card:
• 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
Yes Prosperity Business Credit Card

Welcome Benefits

NA

Rewards Rate

4 Reward Points for every Rs. 200 spent on all categories (except select categories) 2 Reward Points for every spent Rs. 200 on Select categories.

Joining Fees

Rs. 399(plus applicable taxes)

YES PROSPERITY Business Credit card is a reward point earning card that offers tons of points on every business spend and on milestone spends. The foreign currency markup for the YES Prosperity Business Credit Card is 2.5%, therefore you will have an advantage in doing foreign transactions. Also, on top of it, the card offers complimentary airport lounge access for both international as well as domestic lounges. You may enjoy other privileges such as a complimentary golf lesson every month and insurance benefits. The card also provides spend based waiver as well. Following are the features of the card:
• 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.
SBI Corporate Purchase Credit Card

Welcome Benefits

NA

Rewards Rate

NA

Joining Fees

Nil

The SBI Corporate Purchase Credit Card is a lifetime free credit card offered by the SBI Bank for corporates. The card aids corporates to have better control over their expenses and also to manage the same efficiently. It offers many tools like Spend Category Control, Spend Analysis, and Smarter Expense Management. Following are the features of the card:
• Lifetime free credit card
• Smarter Expense Management.
• Spend analysis for controlling expenses better with Visa Intellilink
SBI Corporate Utility Credit Card

Welcome Benefits

NA

Rewards Rate

NA

Joining Fees

Nil

The SBI Corporate Utility Credit Card is a very basic card offered for corporates to help them to pay their utility bills effectively. The card provides the corporates the ability to pay bills in a very simple and quick manner. The card offers customized MIS & Analytics capability and Multi-layer Spend controls. Also, a complimentary Fidelity Guarantee Insurance cover is also provided with the card. Following are the features of the card:
• Pay utility bills in a simple, fast and secure way,
• multi-layer Spend controls.
• Customized MIS & Analytics capability
Axis Bank MY Business Credit Card

Welcome Benefits

NA

Rewards Rate

4 Reward Points for every Rs. 200 spent.

Joining Fees

Rs. 999 (plus applicable taxes)

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.

Bank of Baroda CORPORATE Credit Card

Welcome Benefits

NA

Rewards Rate

1 Reward Point for every Rs. 100 spent.

Joining Fees

Nil

Bank of Baroda CORPORATE Credit Card is a lifetime free card, which means that there are no Joining or Renewal Charges levied on the card. The card is very beneficial for both corporates and employees. The card provides reward points on every transaction and offers complimentary airport lounge access. Following are the features of the card:
• 1 Reward Point for every Rs. 100 spent.
• 8 complimentary airport lounge access annually.
• Insurance protection for air accident death and non-air accident.
IndusInd Contactless Corporate Credit Card

Welcome Benefits

NA

Rewards Rate

NIL

Joining Fees

Nil

IndusInd Bank Contactless Corporate Credit Card offers a new way of handling the financials and monitoring and controlling employee expenses. The card is very basic as it does not offer any reward point or cashback on the transaction. However, it does offer complimentary domestic lounge access. Following are the features of the card:
• 2 complimentary lounge visits per quarter with the Visa Lounge program
• Insurance covers for the employees.
• 1% Fuel surcharge waiver.

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.

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