Corporate Credit Card

A corporate credit card is a payment card that a company issues to its employees to cover authorised business expenses. Unlike a standard business‑credit card or personal card, it is tied to the company’s account and liability, not to an individual. 

Here is how corporate cards are typically used, and how they differ from simpler business‑cards:

• Used for employee travel and related costs: Employees can book flights, hotels, car rentals or travel‑related services using the corporate card. This makes corporate travel easier to manage and removes the need for reimbursement.

• Used for office purchases and ongoing company expenses: Besides travel, cards can be used to buy office supplies, pay for software, subscriptions, client‑entertainment or other business‑related services and purchases.

• Corporate billing under standardised policy: All expenses go to a central corporate account. The company, not the individual employee, is responsible for repayment. This reduces personal liability and simplifies accounting.

• More control and oversight than regular business cards: Corporate cards often come with features such as expense controls, spending limits, and integration with expense‑management or accounting systems. This allows firms to monitor, categorise and report employee spending with greater rigour.

Corporate credit cards offer several powerful advantages for organisations, especially around centralised financial control, flexibility, and cash‑flow efficiency. Below are the major benefits that such cards commonly provide:

• Centralised Billing & Expense Tracking: All employee spending is consolidated into a single corporate account. That makes accounting simpler. You don’t have to handle multiple reimbursements or track separate bills. Instead, you get a unified statement covering all business expenses.

• Customised Spend Limits and Controls: Companies can set spending caps per card, per employee, per department, or per expense category. This helps avoid overspending or misuse. At the same time, it gives you visibility over where and how money is being spent across the organisation.

• Travel Protection & Insurance: Many corporate cards include travel‑related benefits. For example, travel insurance or travel‑related protections. This is especially useful if employees travel often for business, giving them added security and peace of mind during trips.

• Detailed Reports and Custom Analytics: Corporate cards often integrate with expense management or accounting systems. That means you can generate custom reports, track spending trends, categorise expenses, and get real‑time visibility. It simplifies audits, budgeting, and financial planning.

• Improved Cash Flow and Liquidity Management: Because expenses are billed centrally and payment cycles usually offer a grace period, companies can manage cash outflows more efficiently. This helps smooth out cash flow, especially when revenues fluctuate or when expenses are irregular.

Before a company applies for corporate credit cards, it generally must meet certain eligibility conditions. These are the common requirements that many issuers in India look for:

• Legally registered business entity: The company must be formally registered, for example as a private limited company, partnership firm, LLP, sole proprietorship or equivalent.

• Operational history: Issuers often expect the business to have been operational for a certain period, typically one to two years or more, before approving corporate cards.

• Satisfactory turnover / revenue threshold: Many providers mandate a minimum annual turnover or revenue level to ensure financial stability. While thresholds vary by issuer and card tier, this ensures the business has sufficient scale.

• Good creditworthiness and financial health: Banks check the company’s credit history and financial statements. A clean record of repayments and strong cash flows improve chances of approval.

• Valid business and identity documentation: Applicants usually need to submit supporting documents, such as proof of business registration (incorporation certificate, MOA/AOA or partnership deed), tax or GST registration (if applicable), company address proof, and recent bank/financial statements.

Here’s a simple, step‑by‑step guide to applying for a corporate credit card online, using Bajaj Markets as a representative example:

1. Visit the Portal: Go to Bajaj Markets’ website and navigate to the “Credit Cards” section.

2. Choose the Partner Bank / Card Type: Browse through the list of available corporate‑card options. Select the partner bank or the card type that suits your company’s needs.

3. Fill the Online Application Form: Provide required company details, such as company name, registered address, turnover, number of employees, along with contact information.

4. Upload the Required Documents: Upload scanned or digital copies of the necessary documents (e.g. incorporation proof, PAN, financial statements) as per the issuer’s checklist. This helps in legal verification and credit assessment.

5. Await Verification & Approval: Once you submit the form and documents, the issuer reviews your application. If everything meets their criteria (eligibility, documents, financials), they process the application and issue the corporate card.

Disclaimer: The steps outlined above are intended as a general guideline for applying for a corporate credit card online. Actual procedures, required documents and processing timelines may vary depending on the portal, partner bank or issuing institution. Always refer to the latest instructions provided by the card‑issuer before submitting your application.

The information provided by BFDL herein above is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

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