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Any bank offers unsecured Credit Card to Company which is less than 1 year old?

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aayusharyan

aayusharyan

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Hey Community.

I incorporated my Pvt Ltd this FY and am looking for a Credit Card to make online payments. Till now I have received information from ICICI and Kotak Bank.
- ICICI says that they can only give unsecured CC after completion of 1 year from Incorporation. They are ready to give secured CC.
- Kotak says that they can only give unsecured CC after 3 years. Same, they can also give secured against an FD.

Is there a bank (Not NeoBank) which gives CC unsecured? I am okay to open a Current account with them and maintain balance and all. Please share your experiences in the same.
Thanks.
 
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DocFixIt said:
Yes & no .
No , i m but not running it
Yes - my uncle recently opened food processing. He need account & loan offer . Cc . so we are looking for bank too .
Went to hdfc bank but employee was rude
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Yeah, for s new Business PAN. It seems a bit difficult. I don't want an unsecured because then banks don't convert that to secured and I will have to close the oldest account which won't be that good for Credit Report.
Even if it's with low limit, I am okay as long as it is unsecured.
 
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aayusharyan said:
Hey Community.

I incorporated my Pvt Ltd this FY and am looking for a Credit Card to make online payments. Till now I have received information from ICICI and Kotak Bank.
- ICICI says that they can only give unsecured CC after completion of 1 year from Incorporation. They are ready to give secured CC.
- Kotak says that they can only give unsecured CC after 3 years. Same, they can also give secured against an FD.

Is there a bank (Not NeoBank) which gives CC unsecured? I am okay to open a Current account with them and maintain balance and all. Please share your experiences in the same.
Thanks.
Click to expand...
Tag tejo he will help .
I don't know how to tag person 🤣
 
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RishiKiDev said:
Unsecured aur secured ko ulta kar diye. So jao. You're totally sleep deprived
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Ohh daamn. Good catch, yeah. I meant to say I don't want secured cards. 🙈
---
Abhi packing start kari hai, I have to be at the airport at like 7AM. So, I don't think there is sleep in tonight's schedule. I might be available throughout the night here only, lol.
 
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aayusharyan said:
Ohh daamn. Good catch, yeah. I meant to say I don't want secured cards. 🙈
---
Abhi packing start kari hai, I have to be at the airport at like 7AM. So, I don't think there is sleep in tonight's schedule. I might be available throughout the night here only, lol.
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I'm too available throughout the night as I am on call for any emergency surgical cases in my hospital till 6AM 😭
 
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aayusharyan said:
I'm curious, how is the rostering done for Doctors? Like do you folks have fixed shifts or rotational for ER or like how?
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Totally varies from hospital to hospital.
When I was doing my Residency in Govt Medical College, we had 7 units for 7 days of the week. Each unit had to do whole 24 hrs emergency duty in trauma center.
In my current corporate hospital, the emergency duty rostering is done by the hospital admin and its totally random.
 
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I think HDFC should be able to give.

In my case, I opened the MAX account as self employed. And maintained around 1L balance, but keep doing CC bill payments. With in three months, i got pre-approved business regalia with 5L limit,
 
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hariselio said:
I think HDFC should be able to give.

In my case, I opened the MAX account as self employed. And maintained around 1L balance, but keep doing CC bill payments. With in three months, i got pre-approved business regalia with 5L limit,
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I hold a business regalia as well. (I was able to get that without even opening an account or anything) but the problem is that is linked to my Personal PAN. I want a company CC, which should be linked to my company's PAN. HDFC does not want to transfer the PAN number to the company one, so road is closed.
 
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hariselio said:
I think HDFC should be able to give.

In my case, I opened the MAX account as self employed. And maintained around 1L balance, but keep doing CC bill payments. With in three months, i got pre-approved business regalia with 5L limit,
Click to expand...
But yeah. I think I will try to connect with an HDFC agent to see if they can do something.
 
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aayusharyan said:
Hey Community.

I incorporated my Pvt Ltd this FY and am looking for a Credit Card to make online payments. Till now I have received information from ICICI and Kotak Bank.
- ICICI says that they can only give unsecured CC after completion of 1 year from Incorporation. They are ready to give secured CC.
- Kotak says that they can only give unsecured CC after 3 years. Same, they can also give secured against an FD.

Is there a bank (Not NeoBank) which gives CC unsecured? I am okay to open a Current account with them and maintain balance and all. Please share your experiences in the same.
Thanks.
Click to expand...
Hey I did not go through the entire chain here. But I know for certain that Axis and HDFC do provide instant access to credit limits based on meeting certain current account balances.

I will highly recommend Axis here. For personal banking all banks have their highs and lows. But Axis being Axis, it is very hungry for "business" accounts, which may not have recurring transactions. Make sure you explain this to the branch manager (BM).

Here's what I will suggest you need to do:
  1. Make sure you visit a smaller branch, wherein the BM is usually the main RM (most likely this branch does not even service burgundy customers).
  2. Tell them you are ready to move your business with them, including salaries of any employee(s) working in your firm.
    • You'll however require a "business expense card" - They will say - Debit card will be provided with a CA Account, to which you should request for a "line of credit" card that is based on your company's CIBIL. (DO NOT GIVE YOUR OWN PAN). Do understand that you are different from the company and should only get the CC based on your company's CIBIL. A 6 months history is good enough.
    • Refer to this link from Axis - Corporate Card
  3. If the BM as no clue, then ask him to get in touch with the corporate relationship team and help you set up your business account with this branch.

Also I will encourage you to check out American Express - Corporate Purchasing Card. Note this card is different from Amex Corporate Cards, which are given to MNC employees. This Corporate Purchasing Card is very beneficial for SME.

Hope you find this helpful.

1RC
 
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HDFC offered my company 16 Lakh unsecured limit on their corporate card. Message me if you need HDFC rep contact.



Note: I have HDFC current account with them which is almost 1.5 yrs old and my company age is almost 3 yrs
 
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