A Business Credit Card is one of the fast and convenient ways to get finance to run your business. A business credit card differs from a personal credit card. It offers higher credit limit and also offers multiple other benefits. However, like any other source of financing business credit card comes with a cost and must be managed carefully. Business credit cards can be used for establishing and developing business such as buying furniture, computer, stationery and other raw material required for the business. In this post, I will share information about Top 5 Best Business Credit Card in India.
Key Features and Benefit of Business Credit Cards
Multipurpose Expenses – You can use a business credit card to spend money on travel, entertainment, utilities, repair, maintenance and other business operations.
Expense Monitor – You can track and control your business expense with expense monitor and spend tool provided by credit card.
Secure Transaction – Business credit card helps you to secure transaction. You need not worry about carrying cash.
Rewards – Some Bank offers reward points, cash back and discount for using a business credit card.
Higher Credit Limit – A credit limit offered by these type of card is very high. It will help you in dealing with working capital management and emergency business requirement.
Credit rating boost – A use of credit card also boost your business credit rating. It will help you for getting a business loan in future.
Eligibility of Business credit cards
- These type of cards are issued to small business, companies including partnership and proprietorship organization.
- Bank issuing credit card demands certain documents like income tax returns, profit and loss statement.
- A track record of your business should be satisfactory.
Also Read – Best Forex Cards in India – Features & Comparison
Top 5 Best Business Credit Card in India
SBI Corporate Platinum Card
SBI Corporate Platinum Card is one of the best business credit card in India. This card helps you to track your expense with spend management tool. You can set spend limit in order to ensure better control. This card is widely accepted in India and even abroad.
- Joining and Annual Fees – NIL
- Interest Free Credit days – 20-25 days
- Finance charges – Up to 3.35% per month
Business MoneyBack HDFC Card
Business MoneyBack HDFC Card offers higher rewards on business spending. This card also offers benefits like fuel surcharge waiver, zero liability on lost card and Interest free credit.
- Joining and Annual Fees – Variable
- Interest Free Credit days – 50 days
- Finance charges – Up to 3.49% per month
My Business Credit card Axis Bank
My Business Credit card Axis Bank helps you to manage your business efficiently with business saving plan. This card also offers multiple other benefits to customer.
- Joining Fees – Rs.999
- Annual Fee – NIL for first year
- Finance charges – Up to 3.25% per month
Citibank Corporate Card
Citibank Corporate card is business credit card with multiple benefits. It also offers online tool to manage all expenses. You can also opt for exclusive saving offers.
- Joining and Annual Fees – Variable
- Finance charges – Up to 2%
ICICI Bank Corporate Card
ICICI Corporate card offers complete travel and entertainment package of business class people. This card is available in platinum and gold variants.
- Joining and Annual Fees – NIL
- Interest Free Credit days – 48 days
- Finance charges – Up to 2.5%
At last, I would like to say that business credit card is a boon for an entrepreneur looking for short term loan option. However, before selecting any credit card you should look at charges and fees applicable to the card.
