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Business balance transfer cards: Best cards, what they offer and how to choose

A balance transfer card can help you pay down debt at a lower interest rate. Here are the best options among business credit cards

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 are the best business credit cards for balance transfers.

Best business credit cards for balance transfers

American Express Blue Business Cash™ Card: Best for everyday spending

Pros: The no-annual-fee American Express Blue Business Cash Card allows 12 months to pay off balance transfers (at a 3% fee, $5 minimum) and purchases at a 0% APR (after that, it’s 13.24% to 19.24% variable).

The card offers 2% cash back on up to $50,000 in purchases per calendar year, and 1% on all purchases after that. Business-friendly card benefits include free employee cards and business expense tracking tools, QuickBooks integration, a year-end expense summary and access to a business owners’ forum.

Cons: Unlike some other business credit cards, the Blue Business Cash Card does not offer an introductory bonus. And the $50,000 annual cap on earning 2% cash back could be limiting if your business spends more than that each year.

Bottom line: This card may be your best option if you’re looking for a simple, straightforward way to save on your everyday business expenses. Just be wary of putting extra spending on this card in the first year if your No. 1 goal is to pay off a transferred balance at 0% interest.

The Blue Business® Plus Credit Card from American Express: Best for travel rewards

Pros: This card is similar to the Blue Business Cash Card, except it offers American Express Membership Rewards points for everyday spending instead of cash back.

The Blue Business Plus Credit Card from American Express features a 2 points per dollar earning rate on up to $50,000 in spending per year, then 1 point per dollar after that. The points you earn can be transferred on a one-to-one basis to a number of hotel and airline partner programs, including Marriott Bonvoy, Delta SkyMiles, Virgin Atlantic and more.

And it also allows 12 months to pay off a balance transfer at a 0% APR (then it’s a variable rate of 13.24% to 19.24%). There’s a fee of 3% ($5 minimum) of the transferred balance.

Cons: Since this card offers points instead of cash back, using your rewards is less straightforward. If you want to book travel with your rewards, you must do so through American Express. There’s a small fee for booking airfare through Amex’s travel site, and there’s typically a fee to transfer your points to a domestic frequent flyer program.

Bottom line: This card may be your best option if you travel for business – particularly if you often use the hotels and airlines that partner with American Express. But as with the Blue Business Cash Card, you may want to wait until you’ve paid off any balance transfers at the introductory 0% APR before putting additional spending on this card.

U.S. Bank Business Platinum: Best balance transfer payoff period

Pro: The U.S. Bank Business Platinum card offers a lengthy 20-billing-cycle 0% APR period for balance transfers and purchases. After that, it’s a variable APR of 9.99% to 17.99%.

Con: Unlike other business balance transfer cards, the U.S. Bank Business Platinum offers no rewards.

Bottom line: If you’re not looking for a rewards-earning card and just need extra time to pay off a balance on a card you own that charges a high interest rate, this may be your best option.

How to do a balance transfer to a business credit card

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.

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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