How to Apply for and Get a Business Credit Card ?

23 January, 2024

Synopsis

• A Business Credit Card can go a long way in helping you streamline and monitor your business expenses.
  
  

• To apply for a Business Credit Card, you must meet the eligibility criteria and submit the required documents.
  
  

• You can apply for a Business Credit Card by visiting a brick-and-mortar bank or online, via a website or mobile app.
  
  

Are you a business owner looking for new ways to inject funds into your operation’s cash flow? Do you want to manage, monitor, and allocate commercial funds for better distribution and tracking? If your answer to such questions is a resounding yes, it’s time to apply for a Business Credit Card. Designed to meet your commercial needs, a Business Credit Card can help you avail a line of credit that functions as quick, convenient, short-term financing. Now, you might ask, ‘how do I get a Business Credit Card’. Or maybe you are sitting in front of your computer looking at all the options available and thinking, ‘how do I apply for a Business Credit Card’. Worry not! Continue reading to learn how to get a Business Credit Card. 

How Do I Get a Business Credit Card: Eligibility Criteria

The first step to applying for a Business Credit Card is to consider the eligibility criteria set by the issuing bank or financial institution. The specific eligibility criteria for a Business Credit Card will differ basis the lender and card type. However, in general, most issuers do require that an applicant must:

• Be an Indian citizen.
  
  

• Be a business owner.
  
  

• Have a business that meets a revenue or profit threshold.
  
  

Additionally, issuers may look at your credit score to determine your repayment history. 

Although it’s essential to pay attention to the eligibility criteria while understanding how you get a Business Credit Card, also look at the interest rates and annual fees associated with the card. Ideally, you want to be eligible to apply for a card that provides easy repayment methods and does not levy excessive annual fees. 

How Can I Get a Business Credit Card: Documentation

Once you have met the eligibility criteria and picked out a Business Credit Card you want to apply for, you must submit certain personal and business documents. Again, the exact list of documents will differ based on the issuer and type of card. However, here is a general list of documents you might have to submit:

• Identity proof with regards to the business owner.
  
  

• Residential proof with regards to the business owner.
  
  

• Proof of the business’s registered office address.
  
  

• Business Registration or Incorporation Certificate
  
  

• Proof of business income via a profit and loss account and balance sheet.
  
  

• Proof of business continuity.
  
  

How Can I Get a Business Credit Card: Application Process

Applying for a Business Credit Card has become easier than ever. Instead of spending hours at a brick-and-mortar bank, you can apply online from within the comfort of your home. While the exact application process will differ from issuer to issuer, here is a general overview of how to apply for a Business Credit Card:

• Step 1: Head to the bank or financial institution’s official website and find the Credit Card page. 
  
  

• Step 2: Before applying, go through the features and benefits of the Business Credit Card in question. Doing so will help you make an informed decision.
  
  

• Step 3: Once you’ve picked a Credit Card, check the eligibility criteria, and make sure you fulfil the same. 
  
  

• Step 4: If you meet the eligibility criteria, find the ‘apply now’ button. You can choose which card you want to apply for. Pick the Business Credit Card you’ve chosen. 
  
  

• Step 5: You will be redirected to an application form. Fill in the required fields of information. 
  
  

• Step 6: Scan and attach copies of all the documents required.
  
  

• Step 7: Cross-check all the information and click the ‘Submit’ button.
  
  

• Step 8: Wait for the issuer to process your application. The issuer will get in touch with you regarding the application status. 
  
  

How to Apply for a Business Credit Card at HDFC Bank?

While perusing Business Credit Cards, you cannot miss out on everything HDFC Bank has to offer. HDFC Bank’s Business Credit Cards are specifically created keeping the myriad needs of business owners in mind. You can pick from a range of cards, each associated with features that address a specific operational concern. For instance, the HDFC Bank Business MoneyBack Credit Card is the perfect amalgamation of reward points and CashBack. It helps you earn points with every spend and offers CashBack on monthly necessities, along with much more. On the other hand, the HDFC Bank Business Regalia Credit Card is a high-end luxury card that offers perks like airport lounge access, loans, revolving credit, and so on. 

The Business Credit Cards offered at HDFC Bank help you manage vendor/supplier transactions, monitor and manage spending, and enjoy benefits that go beyond just making payments. Apart from a robust customer service department, we also make applying for a Business Credit Card as seamless and easy as possible. Simply visit our website, choose a Credit Card you want to apply for and do so online, within minutes. You can also apply for our Business Credit Cards via our mobile app. 

It's safe to say that you finally have the answer to the question, ‘how do I apply for a Business Credit Card‘. Do not hesitate to give your venture the push it needs and apply for the HDFC Bank Business Credit Cards today! 

*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Credit Card approvals at the sole discretion of HDFC Bank Limited. Credit Card approvals is subject to documentation and verification as per Bank's requirement. Interest rates are subject to change. Please check with your RM or closest bank branch for current interest rates.