A business credit card is like a special card for business expenses, not for personal use. It helps businesses manage their spending and offers various benefits. Many banks provide business credit cards with different advantages. We've listed some here to make it easier for you to pick the one that suits your needs.
Best Credit Cards in India | Check Eligibility & Apply Online
| Business Credit Card | Annual Fee | Key Feature |
|---|---|---|
| HDFC Business MoneyBack Credit Card | Rs.1000 | 5% Cashback on Telecom, Electricity, Government/Tax, Railway, Hotels & Dining and Taxi |
| ICICI Bank Business Advantage Black Credit Card | Rs.1000 | Cashback on your business expenses |
| SBI Platinum Corporate Credit Card | Nil | Zero joining and annual fee |
| Yes Prosperity Business Credit Card | Rs. 2,499 | 10,000 Reward Points on your first transaction done within 30 days |
| Citi® Corporate Credit Card | Communicated at the time of sourcing | Benefit from streamlined travel and entertainment expense |
| Axis Bank My Business Credit Card | Rs. 499 | eDGE loyalty reward points for transactions and 500+ rewards and offers to redeem points |
| Kotak Corporate Gold Credit Card | Rs.1000 | Higher reward point earnings (points can be redeemed every quarter) |
Find The Credit Card With The Best Benefits for You
| Features and Benefits | |
|---|---|
|
|
Suggested Read : Best Co-branded Credit Cards in India| Check Eligibility for Top Cards
| Features and Benefits | |
|---|---|
|
|
Suggested Read : Best Credit Cards for Airport Lounge Access| Check Eligibility for Top Cards
| Features and Benefits | |
|---|---|
|
|
Suggested Read : Best Entertainment Credit Cards in India| Check Eligibility for Top Cards
| Features and Benefits | |
|---|---|
|
|
Suggested Read : Best Rewards Credit Cards in India| Check Eligibility for Top Cards
| Features and Benefits | |
|---|---|
|
|
Suggested Read : Best Grocery Credit Cards in India| Check Eligibility for Top Cards
| Features and Benefits | |
|---|---|
|
|
Suggested Read : Best Dining Credit Cards in India| Check Eligibility for Top Cards
| Features and Benefits | |
|---|---|
|
|
Suggested Read : Best Entry-Level Credit Cards in India| Check Eligibility for Top Cards
| Table of Contents | ||
|---|---|---|
| Eligibility and Documentation | ||
| Reasons to opt a Business Credit Card | ||
| How to Apply? | ||
| FAQs | ||
To Apply for a business credit card, there are specific conditions you need to meet. Here are the basic requirements:
| Age | Applicant should be at least 21 years old and not more than 70 years old |
| Nationality | Should be a Resident Indian |
| Profession | Should be a self-employed professional, proprietor or a partner in a partnership firm |
You have to give some documents to confirm the info in your application. Business credit cards can be in the name of your organization or a member. You need to submit just one document from each category, and here are the financial documents that work:
| Identity and Signature Proof | Passport, PAN card, Driving License, Voter ID card, Aadhaar card, employee identity card in case of government employees |
| Address Proof | Passport, PAN card, Driving License, Voter ID card, Aadhaar card, employee identity card in case of government employees |
| Age Proof | Voter ID card, Secondary School Certificate (class 10th), birth certificate, Passport, Aadhaar Card, pension payment order or Receipt of LIC policy |
| Income proof for Salaried Individuals | Latest 3 months’ salary slips, Salary account bank statement for six months |
| Income proof for Self-employed businessmen/professionals | Latest IT Returns with computation of income and other certified financial documents along with business continuity proof |
Apply for Top Credit Cards in India
1. Builds a Good Credit History: Owning a business credit card is a great way to show your business is good at handling money.2. Gives You Access to Credit: Having a special card just for business lets you buy more things by borrowing money.3. Easy to Keep Things Separate: If your business is a company, it's important to keep business money and personal money apart. A business credit card makes this easy.4. Control Over Employee Spending: When you give your employees business credit cards, you can watch and control how much they spend.5. Access to More Tools and Services: Your business credit card can give you access to cool tools and services that help your business, like better ways to track your money.
You can apply for a Business Credit Card either online or offline.
Steps to apply online:
1. Go to the official bank website.2. Fill in basic details like your name, email, phone number, income, and address.3. A bank representative will call you to guide you through the process.4. They'll arrange to collect your documents from your home.5. The bank will review your documents, and if everything is okay, they'll issue the credit card.
Steps to apply offline:
1.Visit the nearest bank branch.2.Ask about the Business Credit Card options.3.The bank representative will discuss suitable card choices.4.Fill out an application form and provide documents like ID, address proof, income proof, and photos.5.The bank will process your application and issue the credit card if everything checks out.
To get approved for most business credit cards, you usually need to have a good to excellent credit score. Good credit is typically considered to be 700 and above, while an excellent score is 800 or more. However, there are some business credit cards designed for small business owners with fair credit, which falls in the range of 640 to 699.
You don't have to be running a big corporation, but you should be able to identify some form of business, even if it involves one person.
When you apply for a business credit card, the company might check how well your business has been doing and also look at your personal credit. This check on your personal credit could make your credit scores go down a bit.
It usually takes about 7-10 business days to receive a new credit card once your application is approved. So, from the time you submit your application, it typically takes 14-24 business days to get your credit card. If you're approved right away, the process might be quicker.
Business credit cards and personal credit cards are similar, offering bonus points and rewards. But, there are some differences in how they are regulated, and they may have different terms. Business credit cards are made for businesses and often come with free access to useful tools.
Usually, you need a good or excellent personal credit score to get an unsecured business credit card. If you're just starting and have no credit, you might have to begin with a personal credit card, build your credit score, and then apply for a business credit card.