What is the Best Credit Card for Small Businesses?

The fallacy that all Indians cannot get a credit card is slowly fading from the minds of many Indians. With awareness and the passing of time, Indians have made buying a habit and have come to realize that the best way to pay is through a credit card. 

Though credit card use may not be as widespread in India as it is in some countries like the USA and Britain, Indians have been compelled to use them, first due to demonetization, and now, with the pandemic. This forced use has led many Indians to come to the conclusion that they can afford almost anything with a credit card. 

With between 50 and 55 million credit card users in India, the youth and lower-income groups, especially from Tier 2 and Tier 3 cities are using credit cards to buy everything from cars to groceries. Offering lines of credit and the ease of paying for products and services on an urgent basis, the credit card has become the go-to digital payment option. You get many types based on your preference of use. 

For instance, if you are a shopper, you can opt for a card that gives you benefits while you shop and rewards too. You may have a small business, and you can opt for a business credit card India is a country filled with small business owners, from local cloth merchants to corner grocery stores. For small businesses, credit cards prove useful and advantageous to pay for utility bills, transportation costs, etc. 

Small Businesses in India

A staggering 42 million or so small and medium-sized businesses are estimated to exist in India. These could be anything from local grocery shops to self-funded proprietary firms and private co-operatives. They not only provide gainful employment to people but also ensure a balance of employment, with 20% of these small businesses operating out of rural and backward regions of India.

For these proprietors, a boon comes in the form of a business credit card  India has small business people who can now afford infrastructure costs as well as expenses they need to incur on a daily basis with credit cards suited to them. Particularly, business cards come with a host of facilities to help small business owners to manage their businesses daily as well as pushing up credit limits and altering these when it matches the profitability of the business. 

Small Business Credit Cards

Small businesses may grow into large ones, but they may remain small as owners establish themselves in the marketplace. While any regular credit card is good for the purpose of a small business proprietor, credit cards that are specifically suited to businesses help to track expenses for those who run a separate business account. The best credit card for a small business in India can be explored from the following: 


  • SBI Platinum Corporate Card – Although this is called “corporate”, it can be used effectively for small businesses, offering low fees and charges, nil annual and joining fees, as well as tools on a user-friendly dashboard to manage business funds. 


  • Axis Bank Business Card – This card comes with business saving plans, fuel rewards, and waivers on surcharges, cash advances, and loyalty rewards.


  • HDFC Corporate Card – With cashback offers on retail and international expenses, smart pay options and business cost-saving facilities, renewal fees, and fuel charge waivers, small proprietors will benefit from this versatile card. 


  • Laghu Udhyami Card – This credit card from Allahabad Bank is targeted at small business people and artisans across all sectors. Interest rates are customized according to the borrower’s profile. 


  • ICICI Corporate Card – With versatile online banking and free credit of 50 days, this card offers flexible billing cycles with online e-statements and free alerts. There are also attractive reward points and perks with this card. 

All-round Card

Boasted by many as the best credit card for multiple uses, the Bajaj Finserv RBL Bank SuperCard can be used as an ATM card to withdraw cash free of charge for up to 50 days. It can also suffice as a loan card, with loans for up to 90 days granted on a nominal interest rate of 1.16% per month. Products and services can be bought on EMIs and affordability is guaranteed with this card.

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