Incredible Benefits of Having a Business Credit Card

Whether you run a sole proprietorship, self-employed professional, merchant or freelancer, you can benefit from using a business Credit Card in many ways. In essence, a business Credit Card is akin to a personal Credit Card, except it’s for business expenses.

Let’s look at how you can benefit from a business Credit Card.

1. Build company credit 

A business credit card helps build credit history by establishing a credit account in your business's name. Timely payments and responsible usage contribute positively to your credit profile, demonstrating reliability to creditors. Over time, this boosts your credit score, making securing loans and favourable terms for your business easier.

2. Improves business cash flow

Irrespective of the nature of your business or its size, cash flow is critical and a priority aspect for any entrepreneur. With a Business Credit Card, you can easily open up a line of credit for your business and increase cash flow. You can easily purchase supplies, materials, equipment, etc., and enjoy a relaxed payment period. 

Furthermore, the higher your business's income, the higher your credit limit, which gives you more room to improve cash flow. 

3. Separates expenses

It is easy and convenient to swipe one Credit Card for both your personal and business expenses. But from a good bookkeeping point of view, you should keep both expenses separate. This is especially helpful during tax season; not only does it get computed separately, but it also doesn't leave your accountant sifting through numerous transactions and sorting them out. And more than anything, it makes tracking expenses easy. 

Read more on how Credit Cards are the one stop solution for your business transactions today.

4. Keep tabs on spends

A Business Credit Card lets you keep track of purchases and expenditures anyone makes using the online portal. Similarly, rather than handing cash, which can easily go unaccounted for, a business Credit Card helps you keep tabs on how much is spent and on what.

5. Enjoy exclusive business benefits

HDFC Bank gives you a range of business card options to choose from. Each card comes with a unique set of benefits. Some of these are:

• Up to 55 days of interest-free credit period
• Up to 21% savings on business spend annually
• Accelerated Reward Points/Cash Points on Bill Payments, Income Tax, Vendor & GST Payments, Business travel & software purchases​​​​​​
• Reward Points/Cash Points for every Rs 150 you spend
• Additional benefits – exclusive vouchers / Bonus Points as Welcome and Milestone offer, complimentary lounge access, Golf games access across the finest course, fuel surcharge waiver, dining benefits, Reward Points on hotel and airline booking, 
• Easy Access to EMI, Pre-approved Instant Loan & Cash Withdrawal
• Specially curated Business insurance package as per your business needs
• Smartbuy BizDeals - A dedicated platform for your business purchases, offering discounted offers on your Business travel & productivity software.
• Exclusive SmartBuy Portal for offers and Reward redemption

6. Flexible Repayment Options

Business credit cards often come with flexible repayment options, including the ability to carry a balance if necessary. While holding a balance can incur interest, it provides a safety net in times of financial strain, allowing you to manage your business expenses more effectively. This flexibility can be beneficial for handling unexpected costs or managing seasonal fluctuations in revenue.

7. Fraud Protection

Business credit cards often have advanced security features like fraud protection and zero-liability policies. In the event of unauthorised transactions, you are typically not held responsible for fraudulent charges if you report them promptly. This added layer of security helps protect your business finances and provides peace of mind when making transactions. 

With easy eligibility, minimal documentation and a host of benefits and features, there's no reason to wait to apply for your business Credit Card. So, check out HDFC Bank's vast array of business Credit Cards. ​​​​​​

*Terms and conditions apply. Credit Card approvals are at the sole discretion of HDFC Bank Limited. Credit Card approvals are subject to documentation and verification per the Bank's requirements.