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Corporate Credit Cards


Today, credit card is an indispensable part of any business. Corporate credit cards differ from personal and small business credit cards. Many business organizations facilitate their employees with corporate cards for paying expenses related to their business purposes. The credit history of a firm is taken into account while issuing a corporate credit card. These cards are issued to business entities like private limited companies, registered societies as well as partnership and proprietorship firms.

Benefits of Corporate Credit Cards:

There are various benefits that you can enjoy with corporate credit card loans. These loans require lower processing fees and can be availed at competitive interest rates. These loans are collateral free and allow quick disbursement. Besides, corporate credit card loans give you the flexibility to combine both overdraft and loan. For new businesses, the loan limit is up to Rs. 50 lakhs, whereas experienced entrepreneurs can avail this type of loan up to Rs. 3 crores. To obtain funding of maximum limit through corporate credit card, a business must be at least 3 years old.

Eligibility for Corporate Credit Cards:

You are eligible for a loan on corporate credit card only if you qualify the following factors:

  • Your firm has the status of a sole proprietorship, partnership, private limited company or public limited company.
  • Your business sale through credit card is above Rs. 60 lakhs.
  • Your firm has a good history of profit.
  • Your business operation premise is your own property.

Documents Required for Securing Corporate Credit Cards:

While securing a loan through corporate credit card, you need to submit the documents enlisted below:

  • Audited balance sheet of previous 3 years
  • Copies of profit and loss statements
  • PAN card of your firm
  • Undertaking letter
  • Board resolution
  • Memorandum of articles and association
  • Certificate of incorporation in case of companies
  • Income tax returns of company
  • Passport size photographs

Online options For Obtaining Corporate Credit Card

With the help of internet, you can have access to several websites for availing regarding corporate credit card schemes of various banks. This way, you can also get the best options available for corporate credit card. Through online service, you can also get credit balance and quarterly and yearly statements. Besides, you can also make online payments, and redeem rewards and points. Hence,the online process helps you in using your card as well as in managing your account.

As far as the credit card payments are concerned, you can make them via ATM, net banking, money transfer, cash, cheque or standing instructions. It also helps you keep track of your costs. It will enable a firm to have a track on its trade expenses as well as set a spending limit to its employees. In fact, it helps you manage and control your overall business expenses with greater convenience and efficiency. To avail best offers for loans on credit card, you can contact Biz2Credit. Biz2Credit can provide you all the necessary assistance required for this purpose.

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