The downside of applying for a credit card is that banks or financial institutions may take time ranging from days to weeks to approve the credit card. While this could be acceptable for some, others want a credit card quickly.
When it comes to corporate credit card, most companies want their credit card approved and ready to use within no time. A corporate credit card is issued to the employees of a company to help them pay for business expenses, which makes it easy for them to manage these expenses.
It also offers various perks such as rewards and access to airport lounges. In some cases, organizations that are growing and adding more employees require corporate credit cards for the new staff members as soon as they join.
But as stated earlier, it depends on the bank or your credit card company as to how much time it will take for the credit card approval. However, some institutions offer instant approval on corporate credit cards after applying for them. This can come in handy for companies that are fast-moving.
At times, corporate credit cards are issued to employees when they’re being sent for business travels. In cases like this, the employer might want to apply for a credit card with instant approval.
Generally, it can take somewhere between 7-14 days to get approved for a corporate credit card. Once approved, it can take approximately 7-10 business days to get your credit card. So, after submitting an application for a corporate credit card, it is likely to take 14-24 days to get the credit card.
However, the time duration between submitting an application to getting a credit card is significantly shortened if you get instant approval. But you must know that instant approval doesn’t mean that it’s guaranteed.
At times, credit card applications might be kept in a pending status in case they’re being reviewed, or if the credit card company requires some additional information from the applicant.
Here’s how you can get the best credit card in India with instant approval.
Check instant online approval engines
There are credit card search engines available online that help you get instant approval on credit cards. You can check your eligibility on these engines and get instant approval if your company’s profile matches all the required criteria.
The engine will get you the results for your search, and you might be able to get instant approval on the corporate credit card.
Additionally, banks provide eligibility search engines on their own websites as well. Based on the bank of your choice, you can search for your eligibility for a corporate credit card after filling in all the details.
Some of the best corporate credit cards in India
Bajaj Finserv RBL Bank Supercard
This credit card is the ideal choice for small or medium businesses. It comes with the option of instant approval, considering all criteria are met by the applicant. This is one of the best credit card in India which comes with many perks for the user, such as cashback from stores where your firm frequently purchases supplies, bonuses on achieving spending targets and others. Besides, this credit card combines the benefits of a cash card, credit card, loan card and an EMI card.
In conclusion, there are several corporate credit cards in India that you can apply for. While instant approval is more widely prevalent in personal credit cards, you can check for instant approval in corporate credit cards through the ways described above.
HDFC Premium Corporate Card
This corporate credit card provides several benefits such as an online management information system (MIS), spending analysis by category and benefits pertaining to travel, entertainment and many other categories.
HDFC also provides quick processing of credit card applications and competitive interest rates.
SBI Platinum Corporate Credit Card
The SBI Platinum Corporate Card comes with the Visa Intellilink spend management tool that allows companies to track, manage and control business expenses, along with real-time expense management.
It also offers complimentary insurance for corporate card liability and airport lounge access across the world. It is considered to be the best credit card in India when it comes to its accessibility and wide reach.
Citibank Corporate Credit Card
The Citibank Corporate Credit Card also comes with the Visa IntelliLink spend management tool, along with a host of other features. This card offers travel and entertainment expense reporting, along with competitive rewards on using the card anywhere in the world.
YES First Corporate Credit Card
One of the best corporate credit cards in India, the YES First Corporate Credit Card provides a range of benefits in many categories such as hotels, car rentals, dining establishments, stores and air travel. Other than the 24 x 7 online MIS, it comes with many features both for the employers and the employees.
If you’re a small or medium business owner, then you should look for a business card instead of a corporate card. The ideal choice for this is the Bajaj Finserv RBL Bank Supercard, which also comes with an instant approval option.