In the current market scenario with a slowing economy, business owners are scrambling to maintain a stable cash flow. They are implementing stringent and smart financial strategies to lose money unnecessarily. In such a scenario, business credit cards can be an entrepreneur’s favorite arsenal. A business credit card is one of the underrated financial solutions that companies can leverage to save costs. These cards offer benefits like exclusive discounts, reward points, and cashback.
In this article, we take a look at the top 5 business credit cards for the year 2024.
Top Business Credit Cards in India for 2024
Although there are a huge number of options available for companies to pick a business credit card from, we have picked 5 based on their popularity. Also, note that the order given is purely random.
YES BANK Zaggle Corporate Card
Designed for small and medium-sized businesses, YES BANK Zaggle Corporate Card is one of the leading business credit cards owing to the wide range of features it offers. It is a collaborative product of YES BANK and leading Indian FinTech company Zaggle.
- Integrated with spend analytics solution, ZatiX, which allows companies to leverage AI to produce insightful reports and analytics.
- It has one of the most generous loyalty programs giving users 6 reward points for every transaction worth Rs 200.
- You get insurance cover of up to Rs 50 lakhs, along with medical insurance of Rs 15 lakhs, and a credit shield of Rs 5 lakh.
- The card comes with a chip and is secured by a PIN similar to other enterprise credit cards.
- It allows you to implement your corporate expense policy to avoid fraudulent transactions.
- Identify cost-saving opportunities through an in-depth view of expenses across departments, projects, and expense types.
- Enjoy complimentary access to domestic and international lounges, along with free golf courses, and waivers on fuel surcharges.
SBI Platinum Corporate Credit Card
The SBI Platinum Corporate Credit Card is another business credit card that offers a wide range of benefits for business professionals who go on business trips frequently. Therefore, the benefits of the card are aligned to suit travelers.
- You can set controls on spending limits and also restrict merchant categories.
- Get insurance cover against fraud up to Rs 2 lakhs per individual and Rs 60 lakhs per entity.
- Offers travel insurance including air accident death, lost card liability, flight, and baggage delays.
- Access to Visa Interlink spend management tool, giving you insights into your spending pattern.
- If you lose your card, then the card will be replaced within 72 hours with no delivery charges.
- The card is chip and PIN enabled, making the transactions more secure by protecting against counterfeiting, skimming, and lost and stolen card fraud.
RazorpayX Corporate Credit Card
The RazorpayX Corporate Credit Card is made for business expenses by RazorpayX, a payments service provider. It offers the following capabilities.
- Offers an intelligent portal that allows you to track every transaction, in addition to configuring credit limits on cards, and expense types.
- Comes with add-on cards so that multiple team members can use the card at the same time.
- Every time you use the card, you will receive cashback and business rewards.
- It has a simplified application and onboarding process with little paperwork required.
- Use the card for international transactions at an industry-low forex fee.
- Interest-free period of up to 50 days.
Business MoneyBack Credit Card
From the house of HDFC comes a business credit card that gives businesses a competitive advantage and facilitates growth- the Business MoneyBack Credit Card.
- Gives you 2 reward points every time you use the card for a retail purchase and 5 points for fuel payments.
- Access to the 50-day interest-free credit line to make vendor payments and avoid disruption.
- Get 5% cashback on using the business credit card for business essential spending.
- Availability of converting your bills into EMI.
- 5% monthly cashback on business essential spending.
- Offers zero lost card liability and revolving credit.
- Enjoy amazing dining benefits and get up to 20% off on all restaurant bills.
- Eligibility criteria include an annual ITR of over Rs 6 lakhs
ICICI Bank Business Advantage Black Credit Card
ICICI Bank Business Advantage Black Card is a business credit card that allows businesses to save more and leverage reward points and cashback.
- Offers a 1% cashback on using the card for domestic and international spending such as airlines, accommodation, and restaurants.
- Enables contactless payments for fast and secure transactions.
- Complimentary access to airport lounges.
- It comes with a chip and PIN technology to ensure the security of your transactions.
- It offers interest-free credit for up to 48 days.
Choosing the right business credit card
Getting a business credit card for your expenses is a sound financial strategy. Unfortunately, not many organizations utilize this financial tool, which offers multiple cost-saving opportunities. Businesses of all sizes can benefit from business credit cards by selecting the one that aligns with their requirements. In the above article, we discussed the top 5 business credit cards available for companies in India for 2024. Out of all the cards mentioned, YES BANK Zaggle Corporate Credit Card comes with some of the industry-best features including its interest rate, credit limit, and others.