| Overview: Many business owners and professionals wonder whether they can secure a credit card for a current account. Unlike savings accounts, current accounts serve different financial purposes, which raises questions about credit card eligibility. The good news is that having a current account doesn’t disqualify you from getting a credit card. Understanding the relationship between current accounts and credit cards can help you. |
What is a Credit Card on a Current Account?
A credit card with a current account represents an integrated banking solution that combines the transactional capabilities of a business current account with the facilities of a credit card.
‘What is a current account?’ forms the foundation of this relationship. A current account is a specialised business banking account designed for individuals and businesses engaged in frequent financial transactions. Unlike savings accounts, current accounts cater specifically to MSMEs, start-ups, and large corporations that require unlimited withdrawals, high transaction volumes, and specialised banking features.
Eligibility Criteria for Current Account Holders
Current account holders seeking credit cards must meet specific eligibility requirements:
| Criteria | Requirement |
| Purpose | To assess creditworthiness and repayment capability, and ensure responsible lending |
| Age – Salaried Individuals | 21 to 60 years |
| Age – Self-Employed Individuals | Up to 65 years |
| Minimum Annual Income (Salaried) | ₹6,00,000 |
| Minimum Monthly Income | ₹15,000 to ₹18,000 (bank-specific) |
| Income Requirement (Self-Employed) | Higher income and additional documentation required |
| Credit Score (CIBIL) | 650–750 (varies by bank) |
| Residential Proof | Stable and verifiable address |
How to Apply for a Credit Card with a Current Account
Applying for a credit card with a current account follows a straightforward process:
Online Application Process
- Visit your Airtel Finance and navigate to the ‘Credit Cards’ section.
- Choose the card that best suits your requirements.
- Fill in the online application form.
- Submit the application for instant review.
- Await a verification call from the bank’s credit card team.
Branch Application Option
If you prefer face-to-face assistance, you can visit the nearest branch to complete your application in person. This method allows you to clarify doubts and receive immediate guidance from banking professionals.
Benefits of Linking A Credit Card to A Current Account
Linking your credit card to a current account offers numerous advantages:
| Category | Key Benefits |
| Simplified Payment Management | • Automatic bill payment setup ensures credit card dues are paid on time.
• Consolidated statements for a comprehensive financial view. • Reduced risk of late payment fees and penalties. |
| Enhanced Banking Relationship | • Priority customer service for account holders.
• Preferential interest rates and lower processing fees. • Faster approval process due to existing banking relationship. |
| Convenience Features | • Seamless fund transfers between accounts.
• Real-time balance updates across linked products. • Mobile banking integration for easy account management. • Overdraft protection using the credit card as a backup. |
| Cost Benefits | • Waived annual fees for premium customers.
• Reduced foreign exchange charges on international transactions. • Higher credit limits based on account history and relationship. • Complimentary services such as insurance and lounge access. |
Alternatives if Not Eligible
If you’re not eligible for a traditional credit card with a current account, several viable alternatives can help you manage your finances effectively.
- Secured credit cards
- Ideal for building credit history.
- Require a fixed deposit as collateral.
- Credit limit is 75–85% of the deposit.
- No income proof required.
- Prepaid cards
- Spend only pre-loaded funds.
- No debt or interest charges.
- Useful for online payments and budgeting.
- Student credit cards
- Designed for college students.
- Minimal documentation required.
- Issued against trust funds, financial assets, or investments.
- Alternative income sources
- Freelance earnings.
- Rental income.
- Investment returns.
Common Myths About Business Credit Cards
Several misconceptions surround business credit cards, particularly regarding their relationship with current accounts:
Myth 1: A business current account is mandatory.
Reality: It helps, but many banks assess overall business strength and may accept sole proprietors using personal accounts.
Myth 2: Only high-turnover businesses qualify.
Reality: Several banks offer business credit cards for small businesses with turnovers starting around ₹5 lakh.
Myth 3: Personal and business credit are completely separate.
Reality: Personal guarantees are common, and your personal credit score can affect approval.
Myth 4: Business cards offer no personal benefits.
Reality: They often include cashback, travel perks, and expense-tracking tools.
Wrapping Up
Having a current account does not prevent business owners or professionals from securing a credit card. While current and savings accounts serve different purposes, banks primarily assess creditworthiness and financial stability. Options like the Airtel Axis Bank Credit Cards further simplify access by offering digital application processes, practical rewards, and tools designed to support everyday business and professional spending.
FAQs
1. Is a current account required for a credit card?
No, having a current account isn’t mandatory for credit card approval, though it may improve your chances with that specific bank.
2. What credit score is required for a business credit card?
A credit score of 750 or above is required for business credit card approval to demonstrate responsible credit management.
3. Can self-employed individuals get a credit card on a current account?
Yes, self-employed individuals can get a credit card for a current account by providing consistent income proof through ITRs or audited statements.
4. Documents needed for credit card application?
You need PAN card, Aadhaar card, income proof, bank statements, and address proof like utility bills or rental agreements for the application.
5. Is a credit card against a fixed deposit possible?
Yes, secured credit cards against fixed deposits are available, offering credit limits of 80-90% of your deposit amount with Airtel Finance.
6. What is the minimum income for a current account credit card?
The minimum annual income requirement is around ₹3 lakh, though this varies between different banks and card types offered.
