Are you an entrepreneur looking for the right financial tool to take your business to the next level? A good business credit card can prove to be a game changer for your business. It helps manage your daily expenses. It also gives rewards and benefits.
But with so many options, choosing the right business credit card can be challenging. In this blog post, we will tell you about the best business credit cards available in India. We will discuss the pros and cons of each card. This will help you make an informed decision.
What is a business credit card?
A business credit card is a type of credit card designed for businesses. It can pay for expenses, allow employees to spend, and fund trips.
Benefits of Business Credit Cards
Use a business credit card. It tracks all your expenses in one place. This will help you manage your budget and keep track of your expenses.
- Rewards and benefits: Many business credit cards offer rewards. These include cashback, mileage points, and travel perks. You can use these rewards to get added value for your business.
- Credit building: Using a business credit card can build your business’s credit. Do it responsibly. This will help you get loans in the future.
- Business trips: Many business credit cards offer travel perks. They include travel insurance and lounge access. This can make your business trips more convenient and affordable.
Best Business Credit Cards in India
1. HDFC Bank Diners Club Prime:
- Annual Fee: ₹2,500 + GST
- Welcome Offer: Welcome Bonus of ₹10,000
- Rewards: 5X Reward Points
Benefits:
- Free Airport Lounge Access
- Travel Insurance
- Global Help
- EMI Options
2. SBI Card PRIME:
- Annual Fee: ₹2,500 + GST
- Welcome Offer: Welcome Bonus of ₹5,000
- Rewards: 5X Reward Points
Benefits:
- Free Airport Lounge Access
- Travel Insurance
- Global Help
- EMI Options
3. ICICI Bank HPCL Coral Amex Credit Card:
- Annual Fee: ₹2,500 + GST
- Welcome Offer: Welcome Bonus of ₹5,000
- Rewards: 5X Reward Points
Benefits:
- Free airport lounge access
- Travel insurance
- Global help
- EMI options
4. Axis Bank Magnus Credit Card:
- Annual fee: ₹3,000 + GST
- Welcome offer: Welcome bonus of ₹5,000.
- Rewards: 5X reward points
Benefits:
- Free airport lounge access
- Travel insurance
- Global help
- EMI options
5. Citibank PremierMiles Credit Card:
- Annual fee: ₹2,500 + GST
- Welcome offer: Welcome bonus of ₹5,000.
- Rewards: 5X reward points
Benefits:
- Free airport lounge access
- Travel insurance
- Global help
- EMI options
Which business credit card is right for you?
To choose the right business credit card, consider your business’s needs. If you travel a lot, a travel-focused card may be ideal for you. If you want cash back, a cash back card may be a good option.
Conclusion
A good business credit card can be a valuable tool for your business. It can help you manage your expenses, earn rewards, and establish credit for your business. The cards listed above are some of the best business credit cards available in India. Consider the specific needs of your business and choose a card that works best for you.
FAQs: Best Business Credit Cards in India
Q1: What is a business credit card?
A business credit card is a credit card specifically designed for businesses. You can use it to buy business items, like office supplies and travel. It can also pay employee reimbursements.
Q2: How is a business credit card different from a personal credit card?
Both can be used for business expenses. But, a business credit card is designed for businesses. It often offers higher credit limits, better rewards, and perks. These include travel insurance and concierge services.
Q3: What factors should I consider when choosing a business credit card?
Here are some key factors to consider:
- Annual Fee: This is the yearly fee you will pay for the card.
- Interest Rate: This is the rate of interest you will be charged on outstanding balances.
- Reward Points: Many cards offer rewards points for travel, merchandise, or cash back.
- Perks and Benefits: Check for perks, like airport lounge access, travel insurance, and concierge services.
- Credit Limit: Ensure the credit limit is enough for your business needs.
Q4: How can I maintain a good credit score for my business?
To maintain a good credit score for your business, follow these tips:
- Pay Your Bills on Time: Consistent and timely payments are crucial.
- Keep your credit use low: try to keep your credit use ratio below 30%.
- Avoid Closing Old Accounts: Older accounts can positively impact your credit score.
- Check Your Credit Report: Regularly check for errors and inaccuracies.
- Consider a Business Line of Credit: This can help improve your business’s creditworthiness.
Q5: Can I use a business credit card for personal expenses?
It’s generally not recommended to use a business credit card for personal expenses. Doing so can complicate your business finances and potentially lead to tax implications.