Corporate credit cards are where a business entity, rather than an individual or a business owner is legally responsible for any charges made with the card. It is also known as an employee credit card as it is offered to employees by their employers to deal with official expenses. It’s worth noting that a corporate credit card is not the same as a business credit card. A business credit card is typically used by smaller businesses to manage their everyday business expenses.
There are a number of corporate credit cards available in the market to cater to diverse requirements. Here are some of India’s leading corporate credit cards and their key features:
Corporate Credit Card |
Key Features |
HDFC Premium Corporate Card |
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HDFC Corporate Platinum Card |
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YES FIRST Corporate Credit Card |
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IndusInd Bank Corporate Card |
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Kotak Mahindra Corporate Wealth Signature Credit Card |
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Kotak Mahindra Corporate Platinum Credit Card |
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Axis Bank Corporate Credit Card |
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SBI Platinum Corporate Card |
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Disclaimer: The listed cards are not available on the Bajaj Markets platform. Kindly head to the respective providers' official website for the application process.
These days, there are a number of banks and NBFCs that offer corporate credit cards. Corporate companies that are looking to empower their employees with a corporate credit card can approach one of these financial institutions. Make sure to look around before choosing a credit card issuer as this will help you understand prevailing standards and rates. With this information in mind, you can make an informed decision and apply for the ideal corporate credit card.
A corporate credit card is a type of card that financial institutions issue to large and established companies. These companies provide these cards to their employees to help them manage business expenses.
A business credit card is for anyone who needs a separate banking account for their business. A corporate credit card, on the other hand, is a type of credit card that is only offered to corporate entities. They offer it to their employees to manage business expenses.
As an individual, you cannot apply or get a corporate credit card unless your employer offers it to you. Large and reputed companies generally find it easy to get corporate credit cards as long as their finances are in order. Lenders will make the decision to issue a corporate credit card after checking the company’s most recent financials and tax filings.
The eligibility criteria to qualify for a corporate card may vary from one bank to another. At the time of reviewing the application, banks usually do an assessment of the company’s financial health. They may also ask for some necessary documents such as profit/loss statements, annual revenue, tax filed, etc.
If you work in an established company, your company can get corporate credit cards. You can get it if your company decides to issue it to you.
Yes, corporate credit cards offer a number of benefits to employees as well as companies.
For instance, with these cards, employees do not need to pay for business expenses from their pockets, and employees can limit spending. These cards offer many other benefits like access to airport and railway lounges, insurance, no-cost travel upgrades, etc. depending on the card variant that you choose.
While it’s not illegal to use a corporate credit card for personal needs, you might want to avoid it unless you’ve gotten permission from your employer.
Yes, corporate credit cards come with both individual and company-wide credit limits that are set by the credit card issuer after consulting with the company.
No, it’s unlikely that using your company-issued credit card will affect your credit score, either positively or negatively.
Yes, many corporate credit cards come with an emergency cash withdrawal facility. However, it’s best to check with your employer and/or credit card company before doing so.