Fed Starbiz Credit Card

Daily Limits

With daily usage limits set at ₹3 lakh or the available limit on the underlying account, whichever is lower, businesses can strategically manage their expenditures. This provision helps prevent overspending while allowing enough scope for necessary purchases.

Linked to Overdraft or Cash Credit Account

One important advantage of the Fed StarBiz Credit Card is its integration with your existing Overdraft or Cash Credit account. This means that the credit limit offered by the card directly corresponds to the customer’s underlying account, up to a maximum of ₹50 lakhs. This integration simplifies the financial management process, allowing businesses to maintain a straightforward overview of their cash flow.

For example, if you have a cash credit account with a limit of ₹50 lakhs, your credit card will allow you to spend money up to that amount. However, you also have a daily spending limit of ₹3 lakhs. So, if you purchase office supplies for ₹1 lakh using the card, that amount is automatically deducted from your cash credit account. This integration helps you keep track of expenses easily, as all transactions are linked to one account.

Different Modes of Transaction

The card supports various modes of transactions, including Point of Sale, e-commerce transactions, and even Tap and Pay options. This empowers businesses to adapt to a range of spending scenarios, from shopping for supplies to paying service providers, all in real-time.

Wide Acceptance

The Fed StarBiz Credit Card can be used at millions of merchants across India and is accepted wherever RuPay and Visa are recognized. Businesses can easily make purchases since they don’t have to worry about whether their card will work at a specific location.

No Separate Statements

Another feature is the elimination of the need for separate statements. All transactions made with the Fed StarBiz Credit Card are reflected within the underlying OD/CC account. This integration makes accounting easier for businesses as it helps them track expenses and manage their finances.

Upgraded Security

In an age where cyber threats are common, security is a top concern. The Fed StarBiz Credit Card includes advanced security measures, such as tokenization and encryption. These features guarantee that all transactions are safe, providing security to cardholders as they perform transactions.

Eligibility Criteria

• You must have an Overdraft account with Federal Bank, and the limit should be up to ₹50 lakhs.
• Only individuals and sole proprietors are eligible to apply. This means if you are self-employed or run your own business as an individual, you can apply.
• Users should be involved in activities that are classified under the MSMED Act of 2006, which includes manufacturing and service businesses.

Fees and Charges

Categories	Fees
Issuance Fee	₹275 + GST
Renewal Fee	₹275 + GST
Reissuance Fee	₹225 + GST
Cash Advance Fee	Nil
Reward Redemption Fee	Nil

How to Apply for the Fed StarBiz Credit Card?

Applying for the Fed StarBiz Credit Card is a very simple process. Business owners can reach out to their Business Banking Relationship Manager or visit the nearest Federal Bank branch to get assistance with their application. It is advisable to have all relevant documentation ready, such as financial statements and business registration details, to expedite the process.

Fed StarBiz Credit Card Review

The Fed StarBiz Credit Card from Federal Bank is a useful financial tool for small business owners who need overdraft or cash credit accounts. While it lacks traditional benefits such as reward points, welcome perks, or lounge access, its focus on facilitating business-related expenses makes it a practical choice. The daily spending limit of ₹3 lakhs and easy integration with your existing financial accounts enable expense management. If you need a reliable credit option that makes it easy to track expenses and can be used for everyday business purchases, this card might be a good choice. But, if you’re looking for rewards or special perks, you should consider other options.