Business Credit Card

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What are Business Credit Card?

Business credit cards are credit cards that are issued to businesses as instead of individuals. Companies of all sizes might benefit from using business credit cards to establish a credit history and secure more favourable financing rates and conditions in the future.

Business Credit Card of different banks

Name of Credit Card Annual Fees Rate of Interest
Axis My Business Credit Card
  • Joining Fees- ₹ 999
  • Annual Fees- Nil
46.78% p.a
Citi Corporate Credit Card

  • Joining Fees- ₹1000 including gst
  • Annual Fees- Nil
45% p.a
Citi Business/ Advantage Credit Card
  • Joining Fees- Nil
  • Annual Fees- $99
20.24%-29.24% p .a
Citi Costo Anywhere Visa Credit Card
  • Joining Fees- Nil
  • Annual Fees- Nil
19.49% p.a
Yes First Corporate Credit Card
  • Joining Fees- Nil
  • Annual Fees- Nil
28.8% p.a
Business Regalia Credit Card
  • Joining Fees- ₹ 2500 + Applicable taxes
42.00% p.a.
SBI Card ELITE Business
  • Joining Fees- ₹ 4999 + GST
42.00% p.a.
ICICI Bank Gold Corporate Credit Card
  • Joining Fees- Nil
  • Annual Fees- Nil
40.8% p.a.

Benefits of Business Credit Card

Ability to Obtain Financing

A business credit card or line of credit allows you to make purchases for your company without worrying about coming up with cash immediately. As a matter of fact, for a limited time, certain company credit cards have no interest at all.

Separating from personal expenditures

Good bookkeeping necessitates the perfect separation of individual costs and corporate costs. Keeping your personal and professional finances completely separate with a corporate credit card is good practise for both purposes.

Build Your Company's Credit

While a strong personal credit score may be required to qualify for a corporate credit card, the way the card is used can have a significant influence on the company's credit.
Banks will consider your business credit score if you plan to apply for business loans or additional lines of credit in the future. For instance, a higher rate and more favourable payback conditions are possible if both your company credit score and your existing line of credit are strong.

Perks & rewards

Numerous business credit cards come with perks like unlimited cash back or frequent flyer miles that can be used for airfare. Thus, you will end up saving money on all of your business expenditures.

Eligibility For Business Credit Card

  • The applicant must be a citizen of India.
  • Must be self-employed.
  • Need to be creditworthy to qualify.
  • Each applicant must be at least 21-70 years old.

Documents For Business Credit Card

  • PAN Card
  • Aadhar Card
  • Passport Size Photo
  • Tax returns over the past 2 years, financial records, evidence of business stability, etc.

F.A.Q

  • The main benefits offered by Business credit cards:

    • Helps tracking expenses.
    • Separation of personal expenses from business expenditures
    • Cash Flow Availability and Economic Adaptability
    • Build Your Company's Credit

  • The eligibility criteria for Business credit card:

    • The applicant must be a citizen of India.
    • Must be self-employed.
    • Need to be creditworthy to qualify.
    • Each applicant must be at least 21-70 years old.

  • Yes, Business Credit Cards have joining fees depends on the card type.

  • The rewards points differs from card to card, which card you are using.