Businesses require a regular cash flow to manage their expenses effectively. As such, tools like the business credit card are viable options, especially with the right perks. They cater to various business demands, including working capital requirements.
You can use these cards to streamline business expenses, earn rewards on transactions, and pay bills using flexible payment methods. These cards come with several value-added services for entrepreneurs.
However, it can be challenging to choose the right credit card for your business with so many options on offer. Here are some of the top business credit cards that you can consider.
ICICI Bank Business Advantage Black Card
The following are the characteristics of the ICICI Bank Business Advantage Black Credit Card:
Annual and Joining Fees
- To activate this credit card, you will need to pay a joining fee of ₹1,500 plus GST
- For the card’s renewal, you will have to pay an annual fee of ₹1,500 plus GST
Cashback Points
- By using this credit card while spending in India, you can earn up to 1% cashback points
- On foreign expense, you can earn cashback points ranging between 0.5% and 1%
Contactless Payments
- Powered by Visa Paywave contactless technology, ICICI Bank Business Advantage Black Card enables you to make quick payments
- You can tap this card to make payments at retail stores across 48 countries in the world
Concierge Services
- Using the ICICI Bank’s i-Assist facility, you can avail of 24×7 concierge service
- It allows you to access various services ranging from finding the right gift or booking hotels to making restaurant reservations and getting movie tickets delivered to your doorstep
Insurance Cover
- This business credit card also offers compensation against financial uncertainties in your business
- You can also get an accidental death cover of up to ₹75 Lakhs
Complimentary Lounge Access
- With this credit card, you can have a relaxed travel experience with complimentary lounge access at domestic airports
- You can get 2 complimentary lounge accesses per quarter using this card
HDFC Business MoneyBack Credit Card
Check out some of the features and benefits of HDFC Business MoneyBack Credit Card:
Cashback and Rewards
- It is a cashback and rewards credit card where you can get these benefits on your business spending
- You can earn 2X Reward Points on every ₹150 you spend online using the card
- On every other retail purchase, excluding fuel, you can earn 2 reward points for every ₹150 spent
- You can also get 2,500 bonus points on spending over ₹1.8 Lakhs in the anniversary year
Welcome Benefits
- In the first year, you can get 5X reward points on fuel purchases
- However, you can only earn a maximum of 1,000 reward points through fuel purchases in a month
Benefits for Your Business
- You can also enjoy a 5% monthly cashback on business essential spending, like utility bills and tax payments
- You can get an interest-free grace period of up to 50 days
- With this credit card, you can also avail of pre-approved instant loans and cash withdrawal facility
Benefits for GST Payments
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- Using the bank’s SmartHub Vyapar portal, you can conveniently make GST payments using this business credit card
- On the first year of card issuance, you claim 5% cashback on GST payments made using the card
- You can also track your payments and invoices easily on this platform
Axis Bank’s My Business Credit Card
Here are some of the features of Axis Bank My Business Credit Card:
Reward Points
- You can earn 4 reward points on every ₹200 spent using the card
- You can also earn 100 reward points on your first online transaction
Set Up Automatic Payments
- You can use these cards to set up an automatic payment facility on your utility bills
- As part of their service, the bank allows you to pay 90 types of bills using this credit card
Cash Advance Facility
- This credit card allows you to withdraw cash from the bank’s network of over 1 million Visa ATMs
- You can withdraw up to 30% of your credit card’s limit
Considering these features, it is important that you don’t settle with the first business card you come across. Instead, take time to compare and contemplate the offers and benefits of credit card variants to choose the best one. When selecting one, find a credit card that provides a rewards structure that aligns with your business expenses.
In other words, by considering your business’s expenditure pattern, you can identify an offering that adds value with every spend. This is particularly true when you consider the rewards suite and how it unlocks a lot of savings, when utilised appropriately. Additionally, a card with the right tracking and spending control facilities is key to ensuring proper use.
