{"id":742,"date":"2022-11-15T18:35:16","date_gmt":"2022-11-15T13:05:16","guid":{"rendered":"https:\/\/open.money\/blog\/?p=742"},"modified":"2023-07-05T18:23:22","modified_gmt":"2023-07-05T12:53:22","slug":"the-best-credit-card-to-manage-your-startup-expenses","status":"publish","type":"post","link":"https:\/\/open.money\/blog\/the-best-credit-card-to-manage-your-startup-expenses\/","title":{"rendered":"Simplify your business expenses with a startup credit card you always wanted [updated]"},"content":{"rendered":"

Being a startup founder is not an easy feat. Especially when it comes to the never-ending battle of managing expenses.<\/span><\/p>\n

If you have been paying your company\u2019s expenses from your personal credit card, then you\u2019d know what I am talking about.\u00a0<\/span>All you wish is to have something like a startup credit card<\/strong><\/a> of your own to smoothen your business finance management.<\/p>\n

Open\u2019s Founder One card\u2013Asia\u2019s first credit card designed exclusively for startups & small business entrepreneurs, can be the <\/span>startup credit card needed to manage your business finances #LikeAPro.<\/span><\/p>\n

Wondering what\u2019s so unique about this card?\u00a0\ud83e\uddd0\u00a0<\/span><\/p>\n

Founder One card<\/span><\/a> is the only credit card that integrates your banking, payments, expense management, and accounting into a single platform giving you a better overview of all your business expenses.<\/span><\/p>\n

It is like your startup credit card that does more than just provide credits. With its amazing benefits, you could epitomize it as one of the <\/span>best credit cards for small businesses.<\/p>\n

As for team expenses, we\u2019ve got a physical card that comes integrated with Open\u2019s online bank account. You can hand out this card to your teammates, set limits, and load them directly from your online bank account. <\/span><\/p>\n

For now, let\u2019s dig a little deeper into the Founder One card.<\/span><\/p>\n

Still waiting to get a company credit card? We feel you<\/b><\/span><\/h2>\n

Running a startup comes with its own set of challenges and they revolve around managing your <\/span>startup\u2019s banking<\/span><\/a>. <\/span><\/p>\n

For the longest time, traditional banks have primarily focused on catering to the financial needs of big corporates. Amongst the many banking challenges that startup entrepreneurs fret over, getting a business<\/span> credit card for startups is a major one. <\/span><\/p>\n

Let\u2019s see what goes down when you apply for a credit card with a bank\u2013<\/span><\/p>\n

(1) Never-ending documentation:<\/b><\/span><\/h3>\n

You\u2019ll definitely reconsider the idea of getting a company credit card, once you have a look at the list of required documents. Arranging for KYC documents of all the directors, identifying them, and gathering entity proofs along with tons of other business & personal documents can be quite tiring. <\/span><\/p>\n

And the long queues at banks to get these documents vetted, don\u2019t make the process any easier. On top of that, the card you will receive might not be the best credit card for small businesses that suits all your needs.<\/p>\n

<\/p>\n

(2) Hefty fixed deposit:<\/b><\/span><\/h3>\n

Now, even if you somehow get your documents cleared by the bank, you\u2019ll have to make a huge security deposit with them to get a credit card with a limit close to or lesser than the deposit you just made. This is a huge setback for most startups & businesses as they are just starting out & need all the cash that they can find. <\/span><\/p>\n

Why traditional credit cards can\u2019t solve new-age startup problems?<\/span>\u00a0<\/b><\/h2>\n

Say, you make it through all those hassles & get your hands on a company credit card that can act as your startup business credit card. The question that remains is\u2013is it worth all that effort? <\/strong><\/p>\n

(1) Fixed credit limit:\u00a0<\/b><\/span><\/h3>\n

With a traditional credit card, you\u2019ll be approved for a credit limit close to the security deposit that you made. So, if you want to book tickets to an all-important event that exceeds your limit, you\u2019ll definitely not be able to do that. This proves that traditional credit cards cannot be the <\/span>best credit cards for startups. And increasing your credit card limit is similar to the hassles of applying for a brand-new credit card all over again.\u00a0<\/span><\/p>\n

All in all, the documents & long queues shall never cease haunting you. <\/span><\/p>\n

(2) Not integrated with expense management:<\/b><\/span><\/h3>\n

If you\u2019re just starting out with a small team, chances are you won\u2019t have a separate finance team. To think you\u2019ll have the time to oversee your business expenses while working 24*7 is not feasible. <\/span><\/p>\n

Traditional<\/span> business credit cards<\/b> don\u2019t let you present spending limits or give you a big-picture view of your startup\u2019s financial health. Therefore, it is not the desired <\/span>credit card for startups. <\/b><\/p>\n

Now, a <\/span>credit card that comes integrated with expense management<\/span><\/a> \u2013 would be a dream come true, right?<\/span><\/p>\n

Open\u2019s Founder One card has got it all<\/b><\/span><\/h2>\n

Open\u2019s <\/span>Founder One card<\/b> comes integrated with your banking, accounting & expense management \u2013 thus giving you analytical insights into your business finances. <\/span><\/p>\n

Now, let\u2019s get down to business & see how the Founder One card solves challenges unique to a startup \u2013 <\/span><\/p>\n

 <\/p>\n

(1) Minimal documentation & NO fixed deposit:<\/b><\/span><\/h3>\n

I\u2019ll be honest, the best part about applying for a credit card with Open is that we don\u2019t require you to submit a million documents. All we need is your personal PAN & address proof & you\u2019re good to go. As simple as that. No personal guarantee or a hefty fixed deposit too.\u00a0<\/span><\/p>\n

(2) 100% digital application:<\/b><\/span><\/h3>\n

Now, we have always believed in providing a seamless digital onboarding experience to our customers. So forget about standing in long queues, you can submit your credit card application from the comfort of your home in just a few clicks. <\/span><\/p>\n

(3) Flexible credit limit:\u00a0<\/b><\/span><\/h3>\n

With Open\u2019s credit card, you get a credit limit of up to Rs. 25,00,000. <\/span>Is it not like the desired startup credit card you have been yearning for?<\/b><\/p>\n

(4) Keep your personal & business expenses separate:\u00a0<\/b><\/span><\/h3>\n

Well, this one\u2019s a no-brainer. With Open\u2019s Founder One card you can finally pay digital expenses from your company\u2019s credit card & not yours.<\/span><\/p>\n

(5) Enjoy other rewards that make perfect sense for your business:<\/b><\/span><\/h3>\n

You can scale your business with a host of best-in-class rewards from the brands you love. With Open\u2019s Founder One Card you can actually get your hands on rewards that will help your business grow \u2013 perfect deals on everything from marketing and cloud communication to customer engagement platforms. <\/span><\/p>\n

Get your hands on Open\u2019s Founder One card<\/b><\/span><\/h2>\n

India is home to a huge number of startups & it\u2019s time that they are empowered to manage their banking with ease. <\/span><\/p>\n

Solving business banking challenges for startups & small businesses is at the heart of what we do with our neo-banking platform here at Open. And Founder One card is just a small piece of a host of features that makes managing business finances a cakewalk for 27L+ <\/span>SMEs<\/span><\/a> on our platform. <\/span><\/p>\n

So, what are you waiting for? Join the bandwagon of simplified business banking today and grab a credit card that is equivalent to a <\/span>startup credit card that solves most of your business’ finance management!<\/p>\n","protected":false},"excerpt":{"rendered":"Being a startup founder is not an easy feat. Especially when it comes to the never-ending battle of…","protected":false},"author":56,"featured_media":20616,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","footnotes":""},"categories":[169],"tags":[269,270,95,49,271,268],"class_list":{"0":"post-742","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-payments","8":"tag-best-business-credit-card","9":"tag-credit-card-for-small-business","10":"tag-credit-card-for-startups","11":"tag-expense-management","12":"tag-startup-business-credit-card","13":"tag-startup-credit-card","14":"cs-entry"},"_links":{"self":[{"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/posts\/742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/comments?post=742"}],"version-history":[{"count":0,"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/posts\/742\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/media\/20616"}],"wp:attachment":[{"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/media?parent=742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/categories?post=742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/tags?post=742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}