Business Credit Card Balance Transfer
Can i use a personal card for a balance transfer.
Business credit card balance transfer. And as a bonus some cards even offer rewards on purchases. The most obvious reason for doing a business credit card balance transfer is if you ve found a card with a lower apr or better rewards. Small business owners in particular will find that a business credit card can be a total game changer for the bottom line enabling savings on both. After two weeks call your old credit card issuers to make sure they ve been paid off by your new credit card provider.
New cardholders will enjoy a promotional apr after which the apr can range greatly. Compare business cards for balance transfers. The blue business plus credit card from american express features an intro 0 apr on balance transfers and purchases for the first 12 months from account opening. With most business credit cards if you can transfer a balance at all you ll be paying the card s ongoing interest rate in addition to a transfer fee that typically ranges from 3 to 5 of the.
Here are a few things to keep in mind when managing your card. There is a 10 99 introductory apr for six months from date of first business credit card balance transfer. After the introductory apr expires your apr will be 14 99 to 23 99. So this is for any business credit card transfer under this offer which post to your account by january 10 2019.
So this is based on your creditworthiness. Business credit cards are an essential financial tool for any company. Many business balance transfer credit cards take up to 14 days to process a balance transfer request. It can also free up cash flow reduce debt and even improve your credit score.
A business balance transfer credit card with a 0 intro apr can help your company save on interest charges. You ll pay interest at the regular apr on any balance remaining after an introductory apr expires. The balance transfer fee is 3 of the transaction amount with a 5 minimum. You just need to make sure you request the transfer in the first 60 days your account is open to get the intro rate.
Good balance transfer cards offer an introductory interest rate lower than the regular apr sometimes as low as 0. Confirm your balance transfer has been processed. You may also only want to transfer a certain amount of your debt to lower your per card utilization ratio potentially increasing your credit score.