Many companies may need to take debt, even profitable and well-run businesses. Balance Transfer Credit Cards help you work on consolidating high profit debt and paying it over time at a low or 0% APR, but balance transfer offers on business credit cards are rare.
Balance Transfer Cards act like regular credit cards, and the main feature is an interest-free term for repaying the transferred balance. After opening an account, there is a window to transfer your balance and in most cases you will pay a balance transfer fee. Even if the card offers rewards, balance transfers are not normally counted in revenue. Your incentive is the interest you save in the intro offer period. These cards also help you build business credits, such as business tools and consumer protection, and provide perks.
If you are looking for a business credit card that will help you consolidate your credit card debt and make it easier to repay, here are some of the best business balance transfer cards.
Top Business Balance Transfer Credit Card
Compare the best business balance transfer credit cards
| card | It’s perfect for | Balance Transfer Intro APR | Time to transfer | Annual fees | Recommended Credit Score |
|---|---|---|---|---|---|
| Edward Jones Business Plus MasterCard® | Reward |
0% on the first 12 billing cycles Regular April: 19.24% – 29.24% (variable) |
60 days | There is no annual fee for purchasing at least one annual card. Otherwise it’s $25. | Over 750 |
| PNCVisa® Business Credit Card | Low interest |
0% on the first 13 billing cycles Regular April: 16.24%-26.24% (variable) |
90 days | none | Over 750 |
| Chase FreedomUnlimited® | Sole Owner |
0% for 15 months Regular April: 18.99%-28.49% Variable |
60 days | $0 | Over 670 |
| City Custom Cash® Card | Flexibility |
0% for 15 months Regular April: 18.24%-28.24% (variable) |
4 months | $0 | Over 670 |
Balance Transfer Cards usually require a good, iconic credit score. If you have bad or fair credits, consider the top picks of fair/average credits.
How to Choose a Business Balance Transfer Credit Card
When considering a business balance transfer card, assess your business needs. Based on your creditworthiness, you will want to find the right tools to integrate your debts at the most favorable terms.
Prioritize high profit debt integration
Find out the amount of debt you want to consolidate. You want to make Refunds on credit card debt It’s your top priority, so look for it Up to 0% APR period available For balance movement, and try Please balance By the end of the intro APR terminology. You may not receive ongoing rewards or welcome bonuses, but your ability to knock out debts without additional interest should outweigh that. Also, if you are unable to fully pay the entire balance, consider a variable APR after the introductory period has expired.
Find the terminology that works for you
Regardless of how much debt you need to pay back, be aware of the balance transfer conditions, such as balance transfer fees, transfer balances, and repayment period.
If the balance transfer fee is too high, it may not justify interest savings. To help you calculate numbers, use Bankrate’s one Credit Card Balance Transfer Calculator When comparing options.
Once you know how much debt you want to transfer, consider the length of your primer to determine whether you need to pay each month to pay it back without any additional interest. For example, if you transfer a liability of $10,000 with a 15-month intro and a 3% balance transfer fee, you will need to pay $687 a month to pay in full before the interest fee applies.
Please check your qualifications
Find the minimum credit score you need to qualify for your card, Check your credit score To see where you stand. a Business credit cards may not affect your personal creditthe issuer can consider your personal credit score when you apply.
Maximize your business balance transfer credit card
Find the ideal terminology to transfer balances that will help your business and make the most of what they have to offer. Only a few cards offer an intro APR rate including balanced transfers, so consider the following as you have decided:
Consider buying an intro APR instead
If you have large purchases for your business in addition to existing debt, you may look for a credit card that offers an intro APR at the time of purchase Instead of a balance transfer offer. The intro purchase APR offers are more widely available, allowing you to choose more sign-up bonuses to help you pay off your debts while earning rewards and sign-up bonuses.
You can choose to pay off your debts by making all your future purchases with the Intro Purchase APR while paying more of your existing debt. There is no interest charge at the time of purchase and you can pay more profit liabilities while you pay more profits during the intro purchase period.
However, be careful not to overuse it. If you do not pay your balance by the end of the intro offer period, you will be hooked for the interest fee. If done wisely, hitting the right payment and purchase balance will result in less overall interest payments.
Pay the full balance
To avoid expensive, make sure you pay the balance in full by the end of the balance transfer terminology Penalty fee Or interest rates. If your card has a high APR, you may add a significant amount to your debt.
Build your credits
If your credits are less than ideal, or if you’re just starting out, think about how these cards can help you Build your credits and Improve your credit score. Responsible Card Use gives you access to better card opportunities.
What’s next?
Conclusion
Business Balance Transfer Credit Card Offers are worth considering to consolidate your debt. The best balance transfer options offer a long introduction 0% APR rate, but you can usually pay the balance transfer fee.
Even remember it when you consider your options Best SME Credit Cards It won’t help unless you get rewarded as much as possible during the card introduction period. Evaluate the budget and Plans to pay off debt Before transferring your balance to a new card.
Frequently Asked Questions about Business Balance Transfer Cards
Information about Edward Jones Business Plus MasterCard, PNCVisa® Business Credit Card, CitiCustiCash® Card Collected independently by bank rates. Card details have not been reviewed or approved by the issuer.
