The business credit card segment in India is still growing, with limited options available compared to personal credit cards. However, banks are now slowly expanding their offerings to cater to businesses.
Joining this space, IDFC FIRST Bank has launched two new business credit cards:
- IDFC Business Multiplier Credit Card
- IDFC Business Max Credit Card
Both cards are fixed deposit (FD)-backed, making them easier to get for businesses without a strong credit history.
Overview of the New IDFC Business Cards
These cards are designed for business expenses and offer benefits like:
- Rewards on GST and tax payments
- Low forex markup
- Add-on cards for team usage
They are suitable for both small businesses and larger enterprises.
IDFC Business Multiplier Credit Card
This is the premium offering among the two.
Key Features
- Premium metal card design
- Up to 5 add-on cards
- Airport lounge access:
- 1 domestic + 1 international visit per quarter
- Spend ₹20,000 in previous month required
Rewards and Benefits
- Up to 10X reward points on GST & tax payments
- Complimentary RuPay credit card for UPI spends
- Ideal for businesses with frequent tax payments
Fees and FD Requirement
- FD requirement: ₹50,000 + GST
- Annual fee: ₹1,000 + GST
IDFC Business Max Credit Card
This is an entry-level business card focused on affordability.
Key Features
- Lifetime free (no joining or annual fee)
- Up to 5 add-on cards
- Simple and easy to manage
Rewards Structure
- 6X reward points on online spends
- 4X reward points on offline spends
- Up to:
- 33% rewards on hotel bookings
- 20% rewards on flight bookings
Other Benefits
- Forex markup: 1.5% on international spends
- Suitable for both business and travel expenses
FD Requirement
Important Exclusions
Rewards are not applicable on:
- Fuel transactions
- Insurance payments
- EMI transactions
- Cash withdrawals
- Rent and property payments
- Utility bills
Quick Comparison
Who Should Choose Which Card
Choose Business Multiplier if:
- You have high business spends
- You frequently pay GST or taxes
- You want lounge access and premium benefits
Choose Business Max if:
- You want a low-cost or free card
- You are a small business owner or beginner
- You prefer simple rewards without high FD requirement
Bottom Line
With these new launches, IDFC FIRST Bank is strengthening its position in the business credit card segment.
While both cards offer useful features like rewards on tax payments and add-on cards, the FD-backed nature may not suit everyone. However, for businesses looking for easy approval and decent rewards, these cards can be a practical option.
A detailed review with real reward calculations and comparisons will help in deciding which card offers better value for your needs.
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