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How to do a balance transfer to a business credit card

Business credit cards often have higher credit limits than personal cards, and their rewards offerings may benefit your business

Summary

Business credit cards offer many advantages. Often, credit limits are higher than on personal cards, and the rewards are tailored toward business purchases. Some offer 0% interest offers to new cardholders, and sometimes you can use them for a balance transfer. Here’s how.

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Many small business owners use their personal credit to make business purchases in the early days of their business.

Sometimes they aren’t sure the business will fly and wait to start opening business credit cards until they have more proof of concept. Other times, they are so busy getting their business off the ground they postpone applying for a business credit card.

Eventually, though, many reach the point where they want to open a business credit card. Some want to transfer a balance from a personal card to make the most of an attractive interest rate or rewards points the business card offers.

Fortunately, it’s very possible to do this. Here’s how.

Check out all the answers from our credit card experts.

Ask Elaine a question.

Apply for a business credit card

Check out our story “How to get a business credit card” for more information on how to position yourself for success.

One key step to take is to buff up your personal credit by, for instance, being scrupulous about paying your bills on time. You will generally have to provide a personal guarantee for a business credit card.

It is worth the effort. There are many advantages to having a business credit card. Often, credit limits are higher than on personal cards, and the rewards are tailored toward business purchases. Some offer 0% interest offers to new cardholders, and sometimes you can use them for a balance transfer.

For instance, the American Express® Blue Business Cash Card and The Blue Business® Plus Credit Card from American Express each offer a 0% introductory APR on balance transfers for the first 12 months of membership (after that, the APR is 14.74%-20.74% variable on both cards). The U.S. Bank Business Platinum also offers 0% APR on balance transfers for the first 12 billing cycles, with an APR range of 11.74%-19.74% variable after that.

See related: Do balance transfers hurt your credit score?

Choose the right card

Because there are many options, pay close attention to which cards have the most attractive rewards for the types of purchases you make most often. Some cards reward office supply or gas purchases. Others provide most of their points to frequent air travelers.

If you make the most of the special offers to new cardholders, you may be able to cover many of the plane tickets and hotel rooms you need in the coming year or buy needed equipment for your business like a new computer. Many entrepreneurs stretch their startup funds by “hacking” their credit card points.

Offers change frequently, so it’s worth looking back every month or so to see if you can get a better deal from another card.

See related: How long does a balance transfer take?

Determine how you will make the transfer

You will need to transfer the balance from a personal card to a business card by using a paper check or making the transfer online. If you choose the online option, you will need to set up online accounts for both your business and personal cards to do so.

Make sure you know the credit limit of your new card, so you don’t use up so much of your available credit that you can’t make new purchases on the card.

If transferring the balance from a personal card to a business card will mean you will use up most of your available business credit, you may want to get two business credit cards and spread the balance across both. It may take a few days for a transfer to be processed.

Generally, if you use your business card wisely, you will get other credit card offers that may be better than the one you have. Keep your eye out for the best deals. They will help you save on interest and keep your business overhead low.

Editorial Disclaimer

The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.

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Published: January 17, 2020

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Credit Card Rate Report Updated: January 22nd, 2020
Business
15.01%
Airline
16.91%
Cash Back
17.32%
Reward
17.11%
Student
18.55%

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