Are you an entrepreneur looking to save money on your credit card debt? Balance transfer business credit cards can help you manage your debt better and save money on interest. In this article, we will dive into the best business credit cards for balance transfers, helping you choose the right card for your unique financial situation.
Best Business Credit Cards For Balance Transfers Table of Contents
Why Consider a Business Credit Card for Balance Transfers
If you have outstanding debt on your business credit cards, a balance transfer can help you save on interest charges. By transferring your balance to a card with a lower interest rate or a 0% introductory APR, you can pay off the debt faster and save money in the process. This can be particularly useful for businesses that may need time to gain steady revenue streams or expand.
Best Business Credit Cards for Balance Transfers
1. The American Express Blue Business Plus Credit Card
- 0% introductory APR on purchases and balance transfers for 12 months
- No annual fee
- Earn 2x Membership Rewards points on all purchases, up to $50,000 per calendar year
- Flexible credit limit
2. The U.S. Bank Business Platinum Card
- 0% introductory APR on purchases and balance transfers for 20 billing cycles
- No annual fee
- Free employee cards
- Cell phone protection, purchase, and travel protections
3. The Ink Business Unlimited Credit Card from Chase
- 0% introductory APR on purchases for 12 months
- No annual fee
- Earn 1.5% cash back on all purchases
- Cash sign-up bonus after meeting the spending requirement
4. The Capital One Spark Cash Select for Business
- 0% introductory APR on purchases for 9 months
- No annual fee
- Earn 1.5% cash back on all purchases
- Cash sign-up bonus after meeting the spending requirement
Best Business Credit Cards For Balance Transfers Example:
Imagine you are a small business owner who recently opened a boutique store. Initially, you needed to cover expenses like inventory, marketing, and store renovations on your business credit card, which has a high interest rate. As a result, you have $15,000 in credit card debt and are struggling to pay down the balance.
By transferring your debt to the American Express Blue Business Plus Credit Card, you can take advantage of the 0% introductory APR for 12 months. During this time, you can focus on paying off the balance without worrying about interest charges. Once the introductory period ends, you will have a much lower debt balance, making it easier to manage your business finances while still earning reward points for all your purchases.
A balance transfer business credit card could be the key to unlocking financial success for your company. By choosing the right card that offers a low or 0% introductory APR, you can save money on interest and work towards eliminating your credit card debt. Remember to read the terms and conditions of each card carefully before deciding, as each card may have different balance transfer fees or eligibility requirements. If you found this guide helpful, be sure to share it with fellow business owners and explore other useful resources on Flik Eco.
