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The use of credit cards for small business by entrepreneurs to establish (or restore) credit and solve cash flow problems has repeatedly been shown to be a useful strategy. In 2019, 53% of businesses said that credit cards were an external source of funds.

 

When it comes to selecting the best small business credit card, it’s essential to consider various factors such as interest rates, rewards programs, and flexibility in managing expenses. By choosing the right credit card for small businesses tailored to your business needs, you can maximize benefits and streamline financial management processes.

 

A business credit card is very similar to another credit card, with the exception that it was designed and constructed with business use in mind. When using this type of account, business owners have access to a revolving credit line that they may either charge to the card and pay off over time while accruing interest fees or pay off completely.

 

5 Best small business credit card

 

Below, we have listed the top small business credit cards tailored specifically for small business owners, each offering unique benefits and features designed to support the financial needs of businesses on a smaller scale.

 

AMEX Platinum Travel Credit Card

If you’re a high-spending individual looking for great travel deals, the American Express Platinum Travel Credit Card is a terrific choice. The credit card offers travel coupons as well as Taj Hotel promos, which will undoubtedly appeal to frequent travelers and those who are devoted to the Taj Group of Hotels.

 

Cardholders can also enjoy one complimentary domestic lounge visit every quarter, and earn an above-average rewards rate of 0.88% on general expenditure (1 point per Rs. 50 spent; 1 point = Rs. 0.44). Cardholders can redeem rewards in the form of travel vouchers, cash, or InterMiles at varied rates of redemption, giving them flexibility when redeeming points.

 

Additional features of AMEX Platinum Travel Credit Card:

 

  • Joining fee of Rs. 3,500
  • A renewal fee of Rs. 5,000
  • 5,000 Bonus membership rewards as a welcome gift
  • 20% off on dining bills at partnered restaurants
  • Milestone rewards for traveling
  • Four complimentary airport lounge visits within India.
  • One reward point for every Rs. 50 spent
  • Get Taj Experience E-GIFT Card

 

Axis Bank My Business Credit Card

You can manage your business expenditures efficiently with the MY Business Credit Card from Axis Bank. Benefits of the MY company Credit Card include a company savings plan, competitive interest rates, exemptions of fuel surcharges, access to airport lounges, and many other things.

With the MY Business Credit Card, you may also set up standing orders to pay all of your bills automatically, making it easier to better manage your company’s utility costs. Additionally, this credit card offers the option to divide large purchases over Rs. 2,500 into easy-to-repay EMIs.

 

Additional features of Axis Bank My Business Credit Card:

 

  • 2 complimentary lounge access every quarter at various airports across the country
  • No annual or joining fee for add-on cards
  • Exciting reward points and redemption options from a massive catalogue of over 500 items
  • Business savings schemes
  • Fuel rewards and waiver
  • Cash advance
  • Zero Lost Card Liability
  • Automatic payments
  • Easy EMI option
  • Loyalty rewards

 

SBI Platinum Corporate Card

The SBI Platinum Corporate Card is a Visa card created with corporate customers in India in mind. As a result, the cardholder can use the Visa IntelliLink feature to track business costs. Moreover, the user-friendly layout helps people access different card details quickly, which saves time. Additionally, the card includes a free insurance plan that protects the business’s liability in the event of fraud.

 

Additional features of SBI Platinum Corporate Card:

 

  • No joining fee
  • No annual renewal fee
  • 40.2% Annual Percentage Rate (APR) for retail transactions
  • 40.2% APR for cash transactions
  • Replaceable from anywhere you are in the world
  • Accepted at 3 million outlets in India and over 38 million outlets across the globe

 

Citi Corporate Credit Card

The Citi Corporate Credit Card offers a streamlined spending report for entertainment and travel that is as exclusive as it can be. This company credit card enables access to custom reports with a strong Visa Intellilink Spend Management System for better visibility and control. It also assists in identifying top suppliers for better negotiations.

 

Cardholders can also quickly access their online card statements and make a single payment for all of their cards using NEFT, a check, or RTGS.

 

Additional features of Citi Corporate Credit Card:

 

  • No joining or annual renewal fee
  • 2 reward points for every INR 125 spent on any purchase in any category
  • Lifetime, non-expiry reward points
  • 24×7 travel assistance to its cardholders
  • Dining privileges such as obtaining a discount of up to 15% at selected restaurants in all major cities

 

HDFC Business MoneyBack Credit Card

The HDFC Bank Business Moneyback Credit Card accepts contactless payments, making it simple, quick, and secure to make purchases at retail establishments. With the HDFC Bank Business Moneyback Credit Card, you may pay all vendor/supplier bills and GST with up to 50 days of interest-free credit.

 

On their business credit card, cardholders can also access pre-approved fast loans and cash withdrawal capabilities. Additionally, you may use your HDFC Bank Business MoneyBack credit card reward points to get cash back on purchases (100 reward points are equal to Rs. 20). However, the cardholder must have a minimum of 2500 reward points to redeem against a statement balance.

 

Additional features of HDFC Business MoneyBack Credit Card:

 

  • Airport lounge access
  • 5% Cashback on utility spends such as electricity, Telecom, taxes, hotels, etc
  • Smartpay and business savings facility
  • Renewal fee waiver
  • Global credit card
  • No liability on lost credit card
  • Fuel waiver
  • 5X Reward Points on fuel in the first year (maximum 1000 rewards monthly)
  • 2,500 credit card reward points on annual spends of INR 1,80,000 or more
  • 4 points for every Rs. 150 spent online
  • 2 points for every Rs. 150 on other expenses (except fuel)

Charges of credit card for small businesses

 

Now that you know the rewards credit cards for small business offers, here are the charges associated with them:

 

Best Credit Card for Small Business OwnersAnnual Charges
AMEX Platinum Travel Credit CardRs. 5000 + GST from the second year
Axis Bank My Business Credit CardRs. 499 + GST from the second year
Citi Corporate Credit CardRs. 1000 + GST
HDFC Business MoneyBack Credit CardRs. 500 + GST
SBI Platinum Corporate Credit CardNil

Leveraging top rated small business credit cards with BharatNXT

 

Top rated small business credit cards can provide significant assistance to business owners who are either starting out or looking to expand their businesses. Good small business credit cards typically offer higher credit limits than personal cards and feature reward systems that allow you to earn additional points for business-related expenditures, such as office supplies and phone bills.

 

Furthermore, by using your credit card for small business owners through the BharatNXT app, you can access a variety of exciting rewards. The platform allows you to make seamless and hassle-free payments for a wide range of expenses, including rent, salaries, taxes, and other utility bills, using your credit card.

 

Note: The interest rates and card charges mentioned above are subject to change at the credit card company’s sole discretion.

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