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Ultimate Guide to Choosing the Best Business Credit Card in India

With credit card use increasing year-on-year in India, credit cardholders are gradually perceiving that credit cards inherently offer several benefits. Indians know that credit cards hold advantages for them, besides being matched with spending behaviour.

Moreover, it’s not hard to get a business credit card India has already witnessed the benefits and rewards of standard credit cards, and how simple they are to acquire. These days, corporations and businesses, large and small, know that credit card use for official work can make business or professional payments convenient. Although business credit cards and corporate credit cards are technically not for the same purpose, they are, in actuality, used interchangeably, as they have common features.

Business Credit Card – Advantages

Business credit cards cater to small business owners and large business owners. Here are some of the advantages of owning a business credit card in India.

  • Fees and Rewards – While choosing a business credit card, you should opt for one with fees/rates of interest that are commensurate with rewards and perks offered by the card. If fees are high, like the annual fees, for instance, the rewards you earn, say in terms of flight miles while travelling, should be high too. While running your own business, it’s wise to keep your costs of management as low as you can, or yield the most advantage.
  • Sign-up Bonus – Businesses have a higher rate of expenditure than individuals. Hence, business credit cards come with high cash limits, and should ideally come with an introductory reward for cardholders. This may be in the form of zero annual fees/interest for a specific period.
  • Perks and Benefits – Business cards offer holders rewards and perks suited to their spending habits. For instance, if you travel a lot in your business, choose a card that matches your travel-related expenses and correspondingly gives you an advantage. Such a card would have discounts on flight tickets and hotel stays.  It’s very easy to get a business credit card. Apply online and you can take advantage of quick approval times. Nonetheless, in the hurry of obtaining one, you shouldn’t forget to do a cost-benefit analysis.
  • High Cash Limit – A business card should come with a high cash limit, so you have a sufficient amount to spend without crossing a cash limit that’s too low. This depends on your expected business spending. Depending on the size of your business, and any expected growth, you may want to seriously give this a thought.
  • Management Tools – Business credit cards are primarily used to keep business-related expenses separate from personal ones. Some business credit cards have tools so that cardholders can keep a check on expenses.
  • Long Credit Periods – It’s wise to pick a business credit card with long credit periods, say 50 days. This way, you have long periods of interest-free spending. Some card issuers extend your credit period, if creditworthiness is robust.
  • Convenience – Cards are managed via online modes through the card issuer’s portal. You can view statements, block cards, pay bills and raise disputes with online transparency, security and convenience.

Best Business Credit Cards

Business credit cards take care of business-related expenses without the bother of invoices. With a swipe, large spends are tackled easily. The following are some of the most popular business cards in India.

  • Bajaj Finserv RBL Bank SuperCard – This is a multi-utility card that can be used to track business spends with an online app. Giving you the facility of loans for up to 3 months at a nominal interest of 1.16% per month, you can use the card to avail cash during emergencies.
  • SBI Platinum Corporate Credit Card – Tied to the Visa Intellilink system, expenses can be tracked and budgeted for. Daily, weekly or monthly limits can be set on the card, depending on your needs.
  • HDFC Business MoneyBack Credit Card – With this card, you get up to 3 times the rewards on flight tickets, hotel reservations and dining in restaurants.
  • Axis Bank My Business Credit Card – This credit card offers a 20% cashback for flight fares when booked on Ezeego. Cash can be withdrawn (up to 30% of the card’s cash limit) from international ATMs.

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