Can You Get a Credit Card for Your Current Account?

Posted on Thursday, October 24th, 2024 | By IndusInd Bank

The advantages of a current account are countless. They offer high transaction limits, 24/7 liquidity, digital payment solutions, and access to business loans. But is it possible to link a credit card to your current account? Many business owners and professionals looking to streamline their financial management wonder about this. The answer is ‘YES’!

Let’s explore how you can get a credit card linked to your current account and the benefits it can bring.

Getting a Credit Card on a Current Account | Steps to Follow

Eligibility criteria: Having a current account does not automatically qualify you for a credit card. You will need to meet certain eligibility criteria, such as having a good credit score and stable income.

Submit your application: You can apply online through the bank’s website or mobile banking app. The application will require you to provide basic personal information, financial details, and any necessary documentation like proof of income, job/business details (if applicable), and identification.

Check the credit card limit and fees: The credit limit assigned to you depends on your financial background, credit history, and the policies established by your bank. Also assess the fees associated with the credit card, including annual fees, late payment charges, and interest rates.

Verification and approval: After submission, the bank will confirm your information, gauge your creditworthiness, and approve your application if all conditions are met.

Card issuance: Once approved, your credit card will be dispatched to your registered address, and you can start using it for your business needs.

Benefits of Having a Credit Card Linked to Your Current Account

Linking your credit card to a current account provides multiple advantages:

Simplified transactions: All expenses can be tracked in one place, making it easier to monitor and manage business finances.

Rewards and offers: Many credit cards offer rewards, cashback, and discounts on business-related expenses like travel, dining, and office supplies. These rewards can accumulate over time and help you save significantly on daily business expenditures.

Cash flow management: Credit cards provide a revolving line of credit, which can help manage cash flow efficiently, especially during periods of tight liquidity. This is particularly beneficial for businesses with fluctuating income, as it helps them maintain smooth operations without interruptions.

Credit history building: Using a credit card responsibly can help build a good credit history. A strong credit profile is non-negotiable when you need to apply for business loans or credit facilities in the future. So, make sure to pay all the bills on time and utilise your credit limit responsibly.

Choosing the Right Current Account for Your Finances

Selecting the right current account is equally important for the smooth operation and growth of your business. A well-chosen account can offer features that simplify your finances, provide flexibility in transactions, and fulfil the unique needs of your business. The IndusInd Bank Indus Max Current Account is an ideal choice due to its customised benefits and cost-effective features.

You can open a current account without visiting the branch or managing physical documentation, as the entire process is 100% digital. The online journey takes less than 20 minutes, and your account could be activated within 24 hours, depending on your eligibility and the submitted documents.

Look at the other current account advantages available:

Also Read: How Can I Earn Interest with Auto-Sweep Facility on an Online Current Account?

Key Takeaways

Getting a credit card on current accounts is possible and highly beneficial, especially if you are a business owner or professional with substantial financial needs. All you have to do is meet the eligibility criteria, select the right credit card, and apply online to enjoy streamlined expense management, improved cash flow, and valuable rewards.

Choose Indus Max Current Account for a hassle-free banking experience. . With exceptional features, low AMB, personalised services, free electronic funds transfer, interest on surplus funds, and lifestyle privileges, your banking needs are met efficiently and cost-effectively.

Apply NOW!

Disclaimer: 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. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.