Best Business Balance Transfer Credit Cards For January 2024

Business credit cards are a great way for small businesses to manage their finances, while allowing them to take advantage of many rewards and benefits.

They offer a way to build credit, increase cash flow and make purchases with more secure payment options. With the right card, businesses can also take advantage of bonuses, points and cash back rewards.

A business credit card can provide a great jump start for start-ups by helping to build business credit and establish a good relationship with creditors.

For businesses looking for a card with rewards, cards that offer cash back or points can make building up points easier by accumulating more rewards. Points can be used for a variety of items, including travel tickets, gift cards, office supplies or simply cash back.

Many business credit cards also provide tiered reward programs which offer accelerated rewards for certain categories of spending, such as gas or office supplies.

Business card holders should use caution when selecting a business credit card. As with most financial decisions, the best card is dependent on the type of business and spending habits.

It is important to read the terms and conditions of each card carefully and understand the annual fees and rates that may be required. It is also important to read through all communications from the company and be aware of any changes to the terms or restrictions.

Read more: See the best offers for the Chase Ink Business card

Business Credit Cards For Balance Transfers

Starting a business is already risky, and when you add high-interest credit card debt to the mix, the financial risks increase. Even if you have the best intentions as a business owner, your credit card balances can grow, cutting into much-needed cash flow.

Balance transfer credit cards are a good example of a tool that can help businesses manage their money. You can use these cards to pay off high-interest debt, and as an added bonus, many of them offer 0% APR on new purchases.

A business balance transfer card works just like a regular credit card, but the main benefit is that transferred balances and new purchases are made interest-free for a limited time.

Usually, you only have a short amount of time after opening an account to transfer any balances, and you’ll almost always have to pay a fee to do so. Most of the time, these types of credit cards offer few or no rewards or perks, since your “net gain” will be more in the form of interest savings.

Read more: Best Credit Card Sign-Up Bonus Offers

U.S. Bank Business Platinum Card: Best For Long 0% Introductory APR Duration

• The introductory APR on purchases and balance transfers is 0% for the first 18 billing cycles. After that, the variable APR applies.
• 3% balance transfer fee (minimum $5)

The U.S. Bank Business Platinum Card doesn’t come with any rewards, but its promotional APR period is unusually long for a business card.

There is no ongoing rewards rate or first-year welcome bonus, but if getting as much time as possible to pay off your debt is your top priority, the U.S. Bank Business Platinum is one of the best options right now.

Also, keep in mind that the 3% balance transfer fee (minimum of $5) is the same as what other cards charge for the same service. This card also doesn’t cost anything every year.

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Wells Fargo Business Platinum Credit Card: Best For Flexible Rewards

• APR of 0% on purchases and balance transfers for the first nine months. After that, a variable APR applies.
• 4% balance transfer fee, with a minimum of $10.

The Wells Fargo Business Platinum Credit Card saves you money on interest charges when you transfer a balance. It also lets you choose whether you want to earn cash back or points on your spending in the future.

With the cash back option, you’ll get back 1.5% of every dollar you spend in cash. As for Rewards Points, you’ll get one point for every dollar spent, plus a 1,000-point bonus when your company spends $1,000 or more in a monthly billing period.

In addition to getting cash back on regular purchases, new cardholders can also get a welcome bonus of $300 or 30,000 points, depending on the rewards program they choose, after spending $3,000 in the first three months after opening an account.

The Wells Fargo Business Platinum has no annual fee and no extra card fees for up to 99 employees.

U.S. Bank Triple Cash Rewards Visa Business Card: Best For Cash Back

• APR on purchases and balance transfers is 0% for the first 15 billing cycles. After that, the variable APR applies.
• 3% balance transfer fee (minimum $5)

The U.S. Bank Triple Cash Rewards Visa Business Card is a great way to improve your cash back game if you want to transfer a business balance.

You’ll get 5% cash back on prepaid hotels and car rentals booked directly through the U.S. Bank Travel Rewards Center, 3% cash back on eligible purchases at gas stations, EV charging stations, office supply stores, cellphone service providers, and restaurants, and 1% cash back on all other purchases.

As a welcome bonus for the first year, you can get $500 back in cash if you spend $4,500 on the account owner’s card in the first 150 days after opening the account.

This card also doesn’t have an annual fee and gives you a $100 credit on your statement every year for software subscription costs (like QuickBooks).

PNC Visa Business Credit Card: Best For A Balance Transfer Only Offer

• Balance transfers made in the first 90 days get an introductory APR of 0% for the first 13 billing cycles. After that, the variable APR applies.
• 3% balance transfer fee (minimum $5)

If you’re worried about being tempted by introductory offers for both purchases and balance transfers, the PNC Visa Business Credit Card may be your best bet because there’s no intro APR period for new purchases.

This card doesn’t have an annual fee, a welcome bonus, or a way to earn rewards, so you shouldn’t be tempted to spend even more. Also, PNC Bank has a lot of features that can help you keep track of your business spending.

For example, you can manage your account online and get reports on how much you’ve spent. For accounting and keeping track of expenses, business owners can even download transactions into Excel, Quicken, or QuickBooks.

Read more: AmEx Business Platinum 170,000 Bonus Points Public Offer

How To Pick A Business Balance Transfer Credit Card

Before you apply for a business balance transfer card, there are a few things you should think about. We’ve picked out three below to make it a little easier for you to choose.

How Much High-Interest Credit Card Debt Do You Have?

The first thing you should do is figure out how much money your business needs. If you have a lot of high-interest debt and paying off your credit card debt is the most important thing to you, look for the longest 0% APR period you can find.

On these cards, you may not get ongoing rewards or a welcome bonus, but being able to pay off debt without adding more interest should make up for that.

Do You Also Need An Introductory APR Offer For Purchases?

If you plan to buy new equipment or a lot of office supplies for your business, you should look for a business credit card with an introductory APR on purchases (in addition to a balance transfer offer).

So, you won’t have to pay interest on these purchases and can pay them off over time. Obviously, you shouldn’t spend too much on your new balance transfer card while you’re paying off debt.

Are The Balance Transfer Terms Acceptable?

Pay attention to the terms of the balance transfer no matter how much debt you have to pay off. For example, you should know how much the fee is for transferring your balance. If the balance transfer fee is too high, the interest savings might not be worth it or make sense.

For example, if you think you will pay $300 in interest fees until you pay off your balance, but the balance transfer fee would be $400, it wouldn’t make sense to transfer your balance.

It’s also important to know how soon after opening your account you have to make your transfer to be eligible for the promotion, and what happens to your promotional APR if you miss a payment during the introductory period.

If you miss a payment, many card issuers will charge you a penalty APR and end your introductory offer early.

Read more: See the best business checking bonuses

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Bottom Line

A business balance transfer credit card is something to think about if you want to pay off debt and save money at the same time. The best cards in this category have an introductory 0% APR for nine months or longer, but you’ll have to pay a balance transfer fee up front to take advantage of it.

As you decide which card to apply for, keep in mind that even the best small-business credit cards won’t help you get out of debt if you don’t pay off as much as you can during the introductory period.

Before you move your balance to a new card, make sure you compare the options you have right now and have a plan to pay down your debt.

READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.