Business Credit Card Apply Online

Business Credit Card

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About Business Credit Card

A business credit card is a popular category of credit cards that help you to manage business expenses efficiently. It allows small and medium businesses as well as MNCs to centralise all business-related expenses on the card. However, this type of card cannot be used for any personal transactions. Know the simple application process of a business credit card and apply for one, now!

How to Apply for a Business Credit Card Online

To apply for a business credit card (CC) online, you can visit the official website of any business CC issuing company of your preference. Follow the steps mentioned below to complete the application process:

 

  • Step 1: Visit the lender’s official website.

  • Step 2: Navigate to the ‘Business Credit Card’ section.

  • Step 3: Compare between the top business credit cards available on the website.

  • Step 4: Choose the right business credit card that suits your needs.

  • Step 5: Fill the application form and submit it along with other documents (see below) to apply for a business credit card online.

Eligibility Criteria for Business Credit Cards

The eligibility criteria can vary from one lender to another. However, you must fulfil the following generic eligibility criteria to get a business credit card:

 

  • Nationality: You must be a resident of India

  • Age: Your age must range between 21 and 70 years

  • Employment Status: You must either be a self-employed individual, a proprietor, or a partner in a firm.

Note: Salaried individuals are also eligible to use business credit cards provided their employers give them one. To be precise, salaried employees cannot apply for a business credit card on their own.

 

Documents Required to Apply for a Business Credit Card

You must provide the following list of credit card documents when applying for a business credit card:

 

  • Identity Proof: Aadhaar card, PAN card, Voter ID card, any government-issued employee ID card

  • Address Proof: Passport, driving license, telephone/electricity bill, Aadhaar card

  • Income Proof:

    For salaried Individuals: Latest bank statements, salary slip for the last 3 months

    For Self-employed/Business Owners: ITR for the last 2 years, business-related financial documents, business continuity proof. etc.

Note: The documents list in indicative. The lending institution may ask you to submit additional documents if required.

Features and Benefits of Business Credit Cards

The features and benefits may vary from one business credit card to another. However, you can expect the following common features and advantages:

 

  • Benefit for Employee and Employer

Both employers and employees can avail benefits when using business credit cards. While employees can use the credit card for paying business expenses with ease, the employer can monitor such expenses by doing a spend analysis on all the cards each month.

  • Opt for Cashless Transaction

A business credit card allows you and your employees to make cashless and secure business-related transactions. Apply for a business credit card now!

  • Ease of Use

Managing a business CC is extremely easy through the lender’s online netbanking portal or mobile app. You can complete multiple activities including paying off card bills, raising disputes, blocking cards, and more.

  • Availability of Monthly Credit Card Statement

With a business CC, you get monthly credit card statements which helps reduce the time required for tracking and computing expenses. Further, with this business credit card statement, you can easily set the budget for future expenditure.

  • Facility to Fix Spending Limit

Business credit card allows you to fix the upper cap on the spending limit of your employees and keep a check on expenses on these credit cards as well.

  • Ability to Spend on Various Categories

You can use a business CC to spend across multiple categories such as travel, business transactions, utilities, etc. Even you (as an employer) can restrict the categories for which your employees cannot transact using the business CC.

  • Get Cashback and Reward Points

You can earn reward points, get cashback, enjoy special business credit card offers, and more on a business credit card.

  • Consolidated Payment

The business credit card payment process can benefit you in two ways. Wondering what are these ways? On one hand, you can pay all your expenditures in one go, while, on the other hand, you can pay for multiple credit cards with a single payment.

5 Best Business Credit Cards: Features and Fees

There are various lending institutions that offer business credit cards in India. Following is a list of top 5 business credit cards and their features and fee:

Business Credit Card Name

Features

Fees

Axis Bank MY Business Credit Card

  • Withdraw cash up to 30% of the credit limit from more than 1 million VISA ATMs worldwide
  • Convert purchases over ₹2,500 into easy EMIs
  • 1% waiver on fuel surcharge across all fuel stations in India
  • 2 complimentary airport lounge visits every quarter
  • Set standing instructions for automatic bill payments for gas, telephone, electricity, insurance premium, etc.
  • Joining Fee: ₹999 + GST

  • Annual Fee:

1st Year: Nil

2nd Year onwards: ₹499 + GST

ICICI Bank Business Advantage Black Credit Card

 

  • Enjoy up to 1% cashback on domestic and international spends at airlines, hotels and restaurants (this is applicable when you have a statement balance of more than ₹75,000)
  • Enjoy up to 0.5% cashback on domestic and up to 1% cashback on international spends on airlines, hotels, and restaurants (this is applicable when you have a statement balance ranging between ₹25,000 and ₹50,000)
  • Indulge in contactless payment with the help of Visa Paywave contactless technology on ICICI Bank Business Advantage Black Credit Card. Make fast payments in more than 48 countries across the globe
  • Receive 24x7 concierge service from the team at i-Assist and delegate the task of restaurant/hotel bookings, purchasing flowers, and gifts to others
  • Enjoy min. 15% discount on dining across 2,500+ partner restaurants under the ICICI Bank Culinary Treats Programme
  • Get personal air accident death insurance cover of up to ₹75 lakh
  • 2 complimentary airport lounge visits at select airports once in every quarter
  • Joining fee: ₹1,500 + GST

  • Annual fee: ₹1,000 + GST

Citi Corporate Credit Card

  • Offers tailored reports for enhanced control and increased visibility to corporates

  • Offers secure online bill payment facility for telephone, electricity, etc.

  • Enjoy never expiring rewards redeemable against hotel stay, airmiles, and gift vouchers

  • Upto 20% on dining on Citibank partner restaurants across India

  • Cashless payments across 36 million merchant establishments globally

  • Enjoy Priority Assistance on Phone with 24x7 CitiPhone website

  • Joining/Annual Fees communicated at the time of sourcing

HDFC Business MoneyBack Credit Card

  • On every ₹150 spent online, you can earn 4 reward points

  • On all retail expenses (₹150) apart from fuel, wallet, EMI; you can earn 2 rewards points for every ₹150 spent on the card

  • On key business spends such as tax-related expenses, utility bill payments, etc., earn 5% cashback

  • Using DineoutPAY, you can avail discount of up to 20%

  • Enjoy fuel surcharge waiver of 1% at all fuel stations across India (minimum transaction: ₹400; maximum waiver ₹250 per statement cycle)

  • Annual Fee: ₹500 + GST

  • Renewal Fee: ₹500 + GST

HDFC Business Regalia Credit Card

  • Assured cashback on all utility and other bill payments with SmartPay - HDFC Bank's utility bill payment service

  • On every spend worth ₹150, you get 4 reward points redeemable against all retail spend, excluding EMI, petrol, and wallet

  • On annual spends of ₹5 lakh in the anniversary year, you can earn 10,000 reward points as a bonus

  • Additional 5,000 Reward Points against spends of ₹8 lakh on the card’s anniversary year

  • Enjoy 12 complimentary airport lounge visits per calendar year at domestic and international airports

 

  • Annual Fee: ₹2,500 + GST

  • Renewal Fee: ₹2,500 + GST


 

 

 

What are Small Business Credit Cards

Small Business credit cards provide business owners with the funds to manage a business. These funds can be easily accessed with revolving credit and you can make transactions or cash withdrawals (for business-related purposes only) until you reach the set credit limit. If you are a business owner, you can use a small business credit card to purchase office furniture, pay for logistics, and install electronic equipment in the office, among other business-related expenses.

Small Business Credit Card Features and Benefits

  • The transactions are restricted to business use only

  • Small business credit cards offer comparatively higher credit limits than regular credit cards

  • You can enjoy higher credit card rewards and cashbacks on a business credit card

  • These cards can be safely and securely used for online purchases

Uses of Small Business Credit Cards

  • Pay for travel expenses

  • Buy office stationery/furniture

  • Purchase electronic machines such as fax, computers, printers

  • Procure raw materials

  • Pay telephone/electricity bills for office space

Best Small Business Credit Cards

Best Small Business Credit Cards

 

Features

PNB Laghu Udhyami Credit Card

 

Offers a loan of up to ₹10 lakh for purchase of raw materials, machinery, etc., to eligible candidates under the scheme

 

 

PNB Artisan Credit Card

 

 

 

Offers up to ₹2 lakh as term loan or working capital

 

IndusInd Bank Corporate Card

Offers benefit under the ‘Priority Pass’ programme (access to airport lounges), fuel surcharge waiver, and insurance coverage to employees

SBI Prime Business Card

Offers e-gift vouchers worth ₹3,000 from Yatra for business. You can also earn 10 Reward Points on every ₹100 spent on dinings, utility bill payments, and office supplies

Why Choose Business Credit Cards

  • Access to Business Funds: A business credit card gives you access to instant credit, i.e. funds that can be utilised to meet all your business needs.

  • Keeps Personal and Business Transactions Separate: With a business credit card, you can effectively separate and manage funds for personal and professional needs.

  • Helps to Build Credit Score: The transactions you make using a business credit card for a proprietorship business help you build a decent credit score.

  • Enjoy Higher Rewards: Some business credit cards come with higher perks and credit card rewards as compared to a regular credit card.

  • Monitor Employee Spending: A corporate credit card helps employers monitor and control spends made by the employees.

  • Advanced T&E Management Tools: Some business credit card issuers also offer innovative financial tools and services for tracking business expenses. Additionally, they offer tailored reports and consolidated one-glance statements for enhanced financial visibility.

FAQs on Business Credit Card

  • ✔️What is a business credit card?

    A business credit card, as the name suggests, is designed specifically for tackling business expenses. It can be availed by any business owner who wishes to have a separate business account. It allows you to streamline all your business-related expenses that are specifically done on the business credit card while preventing its use for personal transactions. Thus, both employers and employees stand to benefit when using a business credit card.

  • ✔️What are the features of a business credit card?

     A business credit card lets you do cashless and secure transactions for all your business-related expenses. You can control the type and amount of spends that can be made using the card. As an employer, you can also view and manage multiple credit cards and the expenses on them conveniently in one place.

  • ✔️What’s the difference between business credit cards and personal credit cards?

     The operations of business credit cards and personal credit cards are similar in many ways. Both credit cards offer bonuses, reward points, and more. However, these credit cards differ from each other on regulatory points as business credit cards and personal credit cards have separate terms and conditions. Business credit cards are specially designed to address the needs related to business and provide free access to specific business tools. On the other hand, personal credit cards take care of the personal needs of users.

  • ✔️What credit score is needed for a business credit card?

     To avail a business credit card, you must have a decent credit score above 700. However, a credit score above 800 is considered excellent for this purpose. Currently, you can find several credit cards with a fair credit score ranging from 640-690 for your small business.

  • ✔️How are Business credit cards issued in India?

     Banks issue business credit cards (for a period of 1 to 3 years) after verifying the application.

  • ✔️What special offers can I avail on a business credit card?

     A business credit card lets you earn accelerated rewards, get cashback, fuel surcharge waivers, etc., and also takes care of all your key business expenses. Some cards also offer exclusive complimentary memberships which allow you to save more on dining and travel-related expenses.

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