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8 Best Business Credit Cards in India
Business credit cards are not just limited to MNCs and corporate-level customers. These cards are available for small businesses and MSMEs as well, allowing small business owners to take advantage of their benefits. Some of the best business cards offer an amazing set of rewards and discounts that are beneficial for every company. These cards help you separate your official expenses and give you a dedicated tracking mechanism on your spends.
Numerous cards offer various rewards, but choosing the best one for your company can be difficult. Don’t worry; this is why we have created a list of the best business credit cards available in India, based on their features and rewards. We also have a list of top credit cards in India that you might want to check out.
List of 8 Best Premium Credit Cards For 2022
1. Axis Bank MY Business Credit Card
- Axis Bank MY Business is an entry-level business credit card with a decent reward system.
- It has a feature that allows embossing a company’s name and the employee’s designation on it.
- The card offers a 30% cash withdrawal limit through millions of ATMs in India and abroad.
- 2 Complimentary domestic airport lounge access per calendar quarter.
- 4 AxisEdge reward points are earned for every Rs. 100 spent.
- 1% fuel surcharge waiver across all fuel stations in India.
- Complimentary Zero lost card liability shield, which protects against fraudulent transactions.
- No complimentary international airport lounge access.
- Absence of premium features like complimentary golf rounds/lessons.
Why We Picked This Card?
For smaller startups and companies, the Axis Bank MY Business is a good entry into the world of business cards. It gives you access to exclusive features while keeping the fees low.
2. HDFC Bank Business Corporate Regalia Credit Card
- HDFC Business Regalia is a power-packed credit card for all your office needs.
- It provides an attractive 5% cashback on bill payments like telephone, electricity, hotel bookings, cabs, and more, making it one of the most rewarding credit cards out there.
- 4 Reward points are earned for every Rs. 150 spent in every category.
- Milestone-based rewards systems are applicable where the user gets 15,000 points on spending more than Rs 8 Lakhs in a year.
- Complimentary Air Accident insurance worth Rs 1 Crore.
- Domestic and International Airport Lounge access using Priority Pass membership.
- Chargeable international Lounge access at 27 USD + Applicable taxes even after complimentary Priority Pass membership.
Why We Picked This Card?
HDFC Bank is one of the best when it comes to catering business and corporate customers. The Corporate Regalia is a fine step into the bank’s suite of business-focused products.
3. SBI Platinum Corporate Credit Card
- The SBI Platinum Corporate is an amazing entry-level business card with zero annual and joining fees.
- It also offers various benefits and features like travel insurance and Visa Intellilink spend management tool access.
- Complimentary travel insurance worth Rs 50 Lakhs.
- Zero lost card liability shield upto Rs 2 Lakhs protects against fraudulent transactions.
- Access to Priority Pass membership by paying Rs 180 + Taxes.
- Easy replacement of the card can take place anywhere across the globe.
- Nil Joining and Renewal fees
- Chargeable international airport lounge access at USD 27 + Taxes
- The Reward system is not very promising and lucrative.
Why We Picked This Card?
It’s one of the rare few lifetime free business credit cards in India. With that benefit, you get lounge access, travel insurance, and much more making it a great pick for corporate customers.
4. SBI Prime Business Credit Card
- A premium business credit card, one of the best premium credit cards in India, the SBI Prime Business rewards spending on shopping, travel, entertainment, and dining.
- Comes with welcome benefits worth Rs 3000 from Yatra for travel.
- Accelerated rewards are earned on selected categories like utility bill payments and dining.
- 1% fuel surcharge waiver across all fuel stations in India.
- 10 Reward Points per Rs 100 spent on Dining, Utility Bills payments, and Office supplies.
- Complimentary Club Vistara Silver membership
- Up to 9 Club Vistara Points are earned for every Rs 100 on Vistara flights.
- Annual fees of Rs 2999 + Taxes is waived off on annual spending of Rs 3 Lakhs or more.
- No complimentary international airport lounge access
Why We Picked This Card?
If you want something more premium in the business category, we recommend the SBI Prime Business credit card. It has all the premium benefits like accelerated points, travel perks, and annual fee waiver.
5. ICICI Bank Platinum Business Blue Credit Card
- ICICI Bank Platinum Business credit card is an entry-level credit for owners and employees of MSMEs.
- It offers various features and rewards for travel and business expenses.
- This card comes in two variants, powered by both VISA and American Express networks.
- Comprehensive Insurance coverage of up to Rs 75 Lakhs.
- 15% instant discount on various partner restaurants.
- Complimentary domestic airport lounge access.
- Users can avail discounts on spends related to business expenses.
- No complimentary international airport lounge access
- The reward rate on spending is not that great
Why We Picked This Card?
ICICI Bank also offers a plethora of corporate cards, and the Platinum Blue is the entry-level option for business customers. You get a ton of benefits like business expense discounts, lounge access, and concierge services.
6. HDFC Bank Business MoneyBack Credit Card
- This is a business cashback credit card that offers 4 reward points on online spends and two reward points on all other spends (on every Rs 150 spent).
- It also offers a generous 50-day interest-free credit period.
- You get accelerated rewards on partner websites and corporate spending.
- 5% cashback on hotels, dining, cab services, utility bill payments like electricity, mobile bills, and more.
- Complimentary accident insurance and purchase protection shield.
- Earned reward points can also be exchanged for cash.
- Point of sale rental reversal on spending Rs 30,000 on the credit card and monthly volumes of Rs 25,000 on HDFC POS machines (capped at Rs 1,000 per month).
- No complimentary domestic and international airport lounge access
- Earned reward points are only valid for two years
Why We Picked This Card?
The HDFC Business MoneyBack is a good option if most of your expenses are online as it gets you double the reward points compared to offline expenditure. Plus, you get exclusive discounts on partner websites.
7. Yes Prosperity Business Credit Card
- YES Prosperity Business credit card is a premium corporate card for high-end customers.
- It offers a complimentary Priority Pass membership program for cards issued on the Mastercard platform.
- Low foreign currency markup fees of 2.5%.
- Complimentary International airport lounge access upto three times per calendar year
- Four reward points on every Rs 200 spent on travel and dining using YES Cart
- Premium features like 24/7 concierge services
- Complimentary health insurance worth Rs 15 lakhs and air accident insurance while abroad, worth Rs 50 Lakhs
- Chargeable Airport Lounge access at 27 USD + Applicable taxes even after complimentary Priority Pass membership
Why We Picked This Card?
The Yes Prosperity Business card is a good option if you want a cost-effective business credit card that lets you avail international airport lounges for free. You also get complimentary health and air accident insurance.
8. HDFC Bank Corporate Platinum Credit Card
- HDFC Bank Corporate Platinum is a travel-oriented business credit card.
- It offers discounts and accelerated rewards to travel partners.
- Complimentary Air Insurance of Rs 10 Lakhs and Rail Insurance of Rs 3 Lakhs is also offered.
- 8 Complimentary domestic lounge access
- One of the best lounge access credit in India in the business segment.
- 3 reward points are earned for every Rs 150 spent, on all spends
- Accelerated 10X reward points on merchant partner spends
- 1% fuel surcharge waiver across all fuel stations in India
- No complimentary international airport lounge access
- Earned rewards points are valid only for two years
Why We Picked This Card?
The HDFC Bank Corporate Platinum Business card, which is quite the mouthful, is a solid entry-level business card with features like accelerated reward points and domestic lounge access. All in all, a good first option.
Compare Best Business Credit Cards
| Credit Cards | Joining Fees | Annual Fee Waiver |
|---|---|---|
| Axis Bank MY Business | Rs 999 | N/A |
| HDFC Bank Business Corporate Regalia | N/A | N/A |
| SBI Platinum Corporate | Nil | N/A |
| SBI Prime Business | Rs 2,999 | Rs 3 lakhs |
| ICICI Bank Platinum Business | Rs 399 | N/A |
| HDFC Bank Business MoneyBack | Rs 500 | Rs 50,000 |
| Yes Prosperity Business | Rs 399 | N/A |
| HDFC Bank Corporate Platinum | N/A | N/A |
What to look for in a good business credit card?
1.Type of card
While credit cards come with a preset monthly limit, there is something called a ‘charge card’ that essentially is a credit card without any limits. This is a good option in case you have erratic high business expenses. You can utilise a charge card for such expenses and avoid having to pay all at once.
2. Travel benefits
A lot of business and corporate folks usually travel a lot, whether domestically or internationally. In case you fall in the category of frequent travellers, you could consider one of the several cards on this list that offer travel benefits such as travel insurance, lounge access, and other perks.
3.Account management tools
Given you are most likely getting a business or corporate credit card for segregating your business and personal expenses, and for efficient reporting. Before you get a card, ensure that it provides account management tools or has an app with an intuitive UI.
Corporate or Business credit cards are very helpful in separating and tracking your official expenses. In the long term, these credit cards can also help your company build a healthy credit score that may help you upscale your business in the future. Therefore, holding one of the best business credit cards is a must if you want to make the most of your lending journey.
FAQs
What is the eligibility of a business credit card?
A business credit card usually has similar eligibility criteria as a regular credit card. However, you will need to be part of one of the listed corporate organizations at the bank to be eligible for it.
What is the limit on a business credit card?
The limit on a business credit card varies as per your credit score and income.
What is the ideal credit score for a business credit card?
There is no such ideal credit score for a business credit card, however it is good to have a higher score for a better chance at getting premium variants.
What are the benefits of a business credit card?
There are several benefits of a business credit card.
- Corporate expense benefits
- Travel perks
- Expense tracking and segregation
Can I use my business credit card for fuel?
Yes, you can use your business credit card for fuel as with other credit cards.
Is it hard to get a business credit card?
It’s not hard to get a business credit card if you are part of a corporate organization approved by the issuing bank.