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8 Best Most Popular Business Credit Cards in India

    Business credit cards are the most powerful instant cash option for small business owners. Entrepreneurs can buy equipment and supplies from these credit cards. They can make an urgent payment to it. Generally, banks offer higher credit limits compared to credit cards for individuals. In today’s complex business environment, most companies are looking at opportunities to optimize their operations, gain efficiencies and identify cost reduction possibilities. If you are looking for a personal credit card, then you may check the 25 Best Credit Cards in India.

    Choosing the right business cards is a critical factor. Timely payment can enhance your credit limit. As well as, bad payment history affects the CIBIL scores. Any individual having a business in India can apply for business credit cards. Annual turnover and the P/L account play an important role in getting business credit cards. Here in this article, we intend to explore the best business credit cards in India for small business owners. Check it out.

    Documents Checklist For Business Credit Cards

    Different banks demand different types of documents according to their own criteria. It also depends on your form of organization. Such as LLP or Pvt. Ltd or OPC. However, here we have listed some of the common documents which are required for applying for business credit cards in India.

    • Identity Proof
    • Age Proof
    • Residential Address Proof
    • Income Proof, generally profit & loss account and balance sheet
    • Trade License
    • MOA in the case of the ownership pattern is more than one.

    8 Best Business Credit Cards In India – Review

    1. SBI Platinum Corporate Credit Card

    Features:

    • SBI Platinum Corporate Card is accepted at over 24 million outlets across the globe including 3,25,000 outlets in India.
    • The card usage can be kept within permitted entitlement limits by putting daily, weekly and monthly limits on the corporate card.
    • You can track and control your organization’s expenses with Visa Intellilink spend management tool.
    • The tool provides a user-friendly dashboard and interfaces for real-time expense management

    Advantages

    • Zero joining fee and annual fee.
    • You can enjoy an interest-free credit period: of 20-50 days, applicable only on retail purchases and if the previous month’s outstanding balance is paid
    • You will get complimentary insurance coverage on your SBI Corporate Credit Card.
    • Insurance will cover the organization’s corporate card liability against fraud by employees.

    Disadvantages

    • International ATM usage charges are higher. Up to 3% of withdrawal amount or Rs. 400, whichever is higher, per transaction.

    To check more details Click Here.

    2. Business MoneyBack Credit Card – HDFC Bank

    Features

    • HDFC Bank Business MoneyBack Credit Card offers 2 Reward Points for every Rs. 150 you spend.
    • Accumulated Reward Points can be redeemed for CashBack against the outstanding amount on your Business MoneyBack Credit Card. (100 Reward Points = Rs. 40).
    • You can also redeem Reward Points for exciting gifts and air miles from an exclusive rewards catalog, at the applicable redemption rate.

    Advantages

    • Business MoneyBack Credit Card offers 3X i.e. 6 reward points on every Rs. 150 spent on Air, Travel, Hotel bookings, Dining & eCommerce spending.
    • You can enjoy unique offers on your Business MoneyBack Credit Card and get access to airport lounges at various airports in India.
    • Fuel Surcharge Waiver on all fuel transactions between Rs. 400 to Rs. 5000, subject to a maximum of Rs. 500 per statement
    • You can avail yourself up to 50 days of the interest-free period from the date of purchase.

    Disadvantages

    • In the time of repayments, if you pay an amount less than the total amount due reflected on the monthly billing statement, the entire outstanding amount would attract finance charges and all new transactions will also attract finance charges till you repay the full outstanding amount.

    To check more details Click here.

    3. YES First Business Credit Card

    YES First Business Credit Card is primarily for corporate employees.

    Features

    • YES First Business Credit Card offers a comprehensive suite of privileges specially designed to enhance the efficiency of corporate executives.
    • You can avail yourself of 8 reward points for every Rs. 100 spent on traveling and dining expenses.
    • The joining fee is Rs. 5000 and Rs 5000 from the 2nd year onwards.

    Advantages

    • Users get a fuel surcharge waiver if the transaction is between Rs. 400 and Rs. 5,000.
    • You can use your Yes First Credit Card to withdraw cash up to 30% of your credit limit.

    Disadvantages

    • The joining fee is Rs 5000

    To check more details Click Here.

    4. Citibank Corporate Card

    Features

    • You can have a centralized and streamlined process to manage spending with an online spend management tool.
    • Cash advance fees 2%

    Advantages

    • You can access the statements online anytime, anywhere with Citibank Corporate Card.
    • The card provides the facility to tailor reports for enhanced control and visibility.
    • Additionally, you can pay one bill for all Cardmembers through Cheque/NEFT/RTGS.
    • You can redeem your Reward Points for air miles, hotel stays, and gift vouchers for premium merchandise and delightful experiences.
    • You can avail up to 55% savings across a host of business products and services including travel, hotel stays, car rentals, restaurants, and more.

    Disadvantages

    • The bank doesn’t declare the joining fee and annual fee prior. You will only come to know at the time of sourcing the card.

    To check more details Click Here.

    5. ICICI Bank Corporate Card Solution

    Features

    • The ICICI Bank Corporate Card Program for Travel & Entertainment expenses has been developed to offer an end-to-end solution.
    • It is a highly effective tool to manage the travel and entertainment expenses of your employees.
    • Online e-statement with detailed spending breakup card accounts wisely
    • Platinum and Gold Variant

    Advantages

    • Up to 50 days of interest-free credit
    • Choice of liability options and controls over employee spending
    • Dedicated relationship manager and support infrastructure for the company
    • Two Billing dates to choose from
    • Automation and electronic upload into enterprise resource planning (ERP) / general ledger system

    Disadvantages

    • The bank charges annual membership fees of Rs 999

    To check more details Click Here.

    6. Corporate Card – Kotak

    Features

    • Every time you swipe the card to make a payment, you stack up reward points.
    • You can monitor the spending patterns of employees
    • Increased control overspends
    • Opportunities for savings and budgeting

    Advantages

    • The main benefit, however, is that all purchases made through the Corporate Card  Kotak card are insured for a certain period of time. Typically, this is 180 days, or six months, from the date of purchase. If you happen to lose the item purchased due to a fire or theft you can claim insurance up to Rs. 50,000.
    • You can get a 2.5% fuel surcharge waiver across all petrol pumps in India
    • The waiver is given between Rs. 500 to Rs. 3000
    • You can replace your corporate card in case damaged, lost/stolen with no extra charges

    Disadvantages

    • The bank only accepts one payment for all the employee cards under the company. No individual payment is to be done by the employee.

    To Check, for more details Click Here.

    7. Business Gold Card – Standard Chartered

    Features

    • Business Gold Card of Standard Chartered Bank is exclusively designed for the self-employed, it brings to you a suite of offers best suited to your business needs.
    • It ensures great savings when you are on the road, en route to the next business meeting with 5% Cashback on fuel at all outlets.

    Advantages

    • High telephone bills are best managed with your Business Gold Card which offers you 5% Cashback on your phone bills across all service providers.
    • Enjoy higher savings as the Business Gold Card ensures you 1% Cashback on your other transactions.
    • Enjoy a 10% discount on select Dell products with your Business Gold Card.
    • Get a 20% discount on tariffs and an additional privilege of extended check-out time at Fortune Park Hotels.

    Disadvantages

    • Rs 250 will be charged if the card has not been used for a retail or cash transaction in the last 12 months.
    • Rs 250 will be charged if the card has not been used for retail or cash transactions in the first 3 months of its being issued.

    8. Laghu Udhyami Credit Card – Allahabad Bank

    Features

    • All existing borrowers under the Industries, Services & Business (ISB) sector having satisfactory conduct / dealing with the Bank for the last three years and enjoying a credit limit up to Rs 10.00 lakh can avail of the card.
    • Laghu Udhyami Credit Card of Allahabad Bank is valid for 3 years

    Advantages

    • You can use it for the purchase of raw materials etc.
    • The rate of interest depends on the profile of the proposed Borrower and varies between Base Rate to BR+5.00% p.a. with monthly rests as per risk rating of account.

    Disadvantage

    To avail, this card bank will ask you for a collateral security deposit.

    We hope the information is helpful for Indian small business entrepreneurs. We will update this post as our team will find more information about the best business credit cards in India.