You might be in a tiny minority if you do not what is a credit card. When running a business, it’s important to have the extra cash flow to meet your business’s needs. A great way to have more financial power is to use a business credit card.
Today, there are business credit cards to meet your every need. When there are so many options, it can be hard to make the right decision regarding which business credit card would be right for you.
To help with this, we’ve compiled this list in no particular order of the best business credit cards in India –
1. SBI Platinum Corporate Credit Card
One of the great features of the SBI Platinum Corporate Credit Card is the Visa Intellilink Spend Management tool. It can help you keep track of purchases made on your credit card.
This is great for giving you a clear picture of where you stand on your balance utilization and remaining available credit. You’ll also be able to see what you’re spending your credit on and how often, helping give you more insight on your business’ needs.
An interest-free period is available on your credit balance for 20-50 days. This gives you plenty of time to clear your balance within this timeframe so that you aren’t charged anything extra.
Need to travel often? No worries! The SBI Platinum Corporate Credit Card is accepted at over 38 million outlets across the globe. What if you lose your card by accident? Not a problem.
A great added benefit of the SBI Platinum Corporate Credit Card is that you receive complimentary insurance cover.
To know more about the SBI Platinum Corporate Credit Card, all the information you’re looking for can be found here.
2. ICICI Bank Business Advantage Black Credit Card
The ICICI Bank Business Advantage Black Credit Card gives you a 1% cashback on eligible domestic and international spending on airlines, hotels, and restaurants.
You’re also eligible for savings on fuel surcharge at 1% when you use the ICICI Bank Business Advantage Black credit card. This assumes your spending is above 5,000 HPCL Petrol Pumps.
In case you love flying, the ICICI Bank Business Advantage Black Credit Card gives you personal air accident death insurance cover up to 75 lakhs.
Avail of a joining fee reversal when you spend 75,000 or more within 60 days. What about the annual fee, you might ask? You can reverse your annual fee by spending more than 7,50,000 during an anniversary year.
You can click here to go to their official website to apply for one today.
3. HDFC Business MoneyBack Credit Card
The HDFC Business MoneyBack Credit Card has a ton of great features!
Firstly, you can pay your utility bills like electricity and telephone to receive 5% cashback on your spending. This offer is also valid on hotels, dining, and taxi services.
Not only this but as a joining bonus, you also receive 5x reward points capped at 1000 for the first year that you have this card.
The benefits don’t end there. If you love eating out, you can enjoy a complimentary Zomato Gold membership for the entire year!
Spending 1.8 lakh or more per year on your HDFC Business MoneyBack Credit Card can earn you up to 2,500 reward points.
If you’re interested to find out more about the HDFC Business MoneyBack Credit Card, you can read all about it here.
4. Yes Prosperity Business Credit Card
On the first transaction done within 30 days of setting up your card, you can earn up to 10,000 Reward Points. On each renewal, you stand to earn up to 7,500 Reward Points.
The interest rate is 3.5% per month or 42% annually on Revolving Credit. The same also applies to Cash Advances and overdue amounts.
Fuel surcharge waiver of 1% is applicable on spends between Rs. 400 – Rs. 5000.
On annual spending of 6,00,000 or more in each anniversary year, you can earn up to 10,000 Reward Points. An anniversary year is between 12 months from the date of set-up or renewal.
The Yes Prosperity Business Credit Card comes with several insurance cover benefits. 50,00,000 in the form of air travel accident cover in the case of death and 15,00,000 cover on medical emergencies while traveling overseas.
The Yes Prosperity Business Credit Card allows the primary cardmember’s Complimentary Priority Pass membership. You also receive 3 complimentary international lounge access in a calendar year.
Sound good? You can read more about the Yes Prosperity Business Credit Card here.
5. Citi® Corporate Credit Card
The Citi® Corporate Credit Card can be extremely useful for your business. It comes with many attractive features and benefits to keep you interested.
Use this card while filling fuel to avail of a 1% fuel surcharge when you refill at authorized Indian Oil outlets. Additionally, the card allows you to earn reward points when you use it to pay for expenses. For every Rs. 125 spent on the card, you earn 2 reward points.
If you love to eat out, you are eligible to receive up to 15% discount at participating restaurants with the Citi® Corporate Credit Card.
With the Citi® Corporate Credit Card, you can enjoy complimentary access to domestic airport lounges.
Using the Travel & Entertainment spend management tool, you can stay on top of all your relevant expenses and even enjoy the added benefit of process automation.
You can find out more about the Citi® Corporate Credit Card here.
As you can see, there are plenty of business credit cards out there with rewards and benefits. However, each one of them is unique with its own features.
When choosing the right business credit card for you, remember your needs and what’s important to you and your enterprise. Rewards like complimentary insurance, cashback on purchases, and cover for medical emergencies are great features that you can get with some of the cards we mentioned.
We hope you found the card that you were looking for from this list. These are the best business credit cards in India and their benefits.