Corporate Credit Card

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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.

List of Some of the Top Corporate Credit Cards

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	Supports a round-the-clock management information system Easy integration with existing account system Comes with complimentary membership of the Priority Pass Program Provides a ₹1 Crore air travel accident insurance cover for cardholders
HDFC Corporate Platinum Card	Supports a round-the-clock management information system Creates category-wise management information system reports for cardholders Provides a ₹1 Crore air travel accident insurance cover
YES FIRST Corporate Credit Card	Supports a round-the-clock management information system Cardholders have access to individual account statements Comes with free insurance for any air accidents
IndusInd Bank Corporate Card	The card is equipped with a robust Expense Management platform Provides a smart category-wise spending tracking and analysis This card easily integrates with existing ERP system You can enjoy the privilege of a dedicated service manager
Kotak Mahindra Corporate Wealth Signature Credit Card	The card is universally acceptable, online and at all stores Comes with complimentary airport lounge access Has a consolidated payment solution Dedicated relationship manager
Kotak Mahindra Corporate Platinum Credit Card	The card is globally accepted online and at all stores Comes with complimentary lounge access at select airports Has a comprehensive solution for the payment system Dedicated relationship manager
Axis Bank Corporate Credit Card	Comes with a unique management information system Efficient and interactive reporting system Comes with complimentary lounge access at select airports The card is equipped with a single payment solution
SBI Platinum Corporate Card	Is equipped with a unique spend management tool Comes with a complimentary membership of Priority Pass Air travel accident insurance cover of ₹1 Crore This card is universally acceptable

Disclaimer: The listed cards are not available on the Bajaj Markets platform. Kindly head to the respective providers' official website for the application process.

Benefits of a Corporate Credit Card

Corporate credit cards can be beneficial for employers as well as the employees. Here, we have compiled a list of the same.

1. Benefits for the employees

A corporate credit card allows you to pay for business expenses from company accounts without any hassles.
With an employee credit card, you do not have to worry about collecting bills and receipts for later reimbursement.

Many corporate credit cards come with perks like airport and railway lounge access, which can help make business travel delightful.
You don’t have to worry about your finances getting impacted while you wait for reimbursement.
Helps employees make quick and efficient business decisions without having to worry about excessive documentation and red tape.
Many corporate credit cards offer exciting perks like concierge service, group discounts, fee waivers, gift card discounts, and offers.
As an employee, you will not bear personal responsibility for business expenses or credit. So, your credit score will not be affected even if your employer defaults on payments.

2. Benefits for employers

Corporate credit cards allow for increased spend control and visibility. They also help streamline the entire expense validation process.
It can help increase compliance and reduce expense fraud by putting an end to receipt manipulation
Corporate credit cards are equipped with the latest technology that protects against theft, accident, misuse, and loss. They also offer additional benefits like insurance and emergency cash advances which can add an additional layer of safety.
Organisations can create dynamic credit limits depending on the employees’ credit needs.
Companies can enhance their employees’ experience, which can help boost morale.
Corporate credit cards give companies access to interest-free credit that can help improve cash flow.

How to Apply for Corporate Credit Cards

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.

DISCLAIMER

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.

The information including interest rates or fees and charges with regard to any credit card, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

Credit Cards Partners at Bajaj Markets

Non Partners Credit Cards

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.