Best Business Credit Cards for Balance Transfers

With a small business balance transfer credit card, you’ll get up to 15 months to move and eliminate your debt interest-free. Unlike with consumer credit cards, however, there aren’t many business cards that offer balance transfer promotions. Of the few that do, here are our favorites.

Best Business Credit Cards for Balance Transfers

The Blue Business® Plus Credit Card from American Express

If you want a long 0% APR promotion and a simple rewards program, The The Blue Business® Plus Credit Card from American Express should be on your radar.

The card provides new cardholders with a promotional APR of  0% on purchases for 12 months. After that, your APR will be 14.74% - 20.74% Variable. The card’s balance transfer fee is a typical 3% with a $5 minimum.

The card doesn’t offer a sign-up bonus to help cover the balance transfer fee, but does offer rewards. Earn 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter.

It also provides other valuable perks. For example, if you have a big expense coming up, you may be able to spend beyond your credit limit without incurring a fee. You’ll also get access to a handful of expense management tools. 

Spend Manager, for instance, allows you to add receipts and notes to your transactions. You can also label and transfer your transactions directly to Quickbooks. 

You’ll also get access to special offers on shopping, dining, and travel through Amex Offers. The card has no annual fee.

U.S. Bank Business Cash Rewards World Elite™ MasterCard®

While many business credit cards are heavy hitters with an initial sign-up bonus, the U.S. Bank Business Cash Rewards World Elite™ MasterCard® also offers ongoing value with annual bonuses. 

New cardholders will enjoy a promotional APR of 0%* for 15 billing cycles on purchases and balance transfers*, after which the APR can range from 13.99%-24.99%* (Variable). The balance transfer fee is 3% of the transaction amount with a $5 minimum.

On the rewards side, you’ll earn 3% cash back on cellular, gas stations and office supply store net purchases. 1% cash back on other net purchases. No limit on total rewards and they never expire! Plus, a 25% Annual Cash Rewards bonus, up to $250.

The card doesn’t offer any other significant perks but does have a $0* annual fee. 

What to consider before doing a balance transfer

When done right, a balance transfer can save you hundreds, if not thousands, of dollars in interest. But if you’re not careful, it could end up costing you more. Here are some things to keep in mind before getting a balance transfer credit card:

  • Know the ongoing APR: For large balances, it may be impossible to pay off the entire debt before the 0% APR promotion ends. If you don’t finish it off in time, you’ll start to get hit with interest charges again. The lower that ongoing rate, the better.
  • Have a plan: Credit cards don’t have set repayment terms and charge minimum payments at just 1% or 2% of your balance. If you don’t have a plan to eliminate your debt, you could finish up the promotional period only to realize you paid off less than you wanted to. 
  • Do the math: With a balance transfer fee between 3% and 5% of the transfer amount, it may cost you hundreds of dollars just to move your debt. If you’re planning to pay off the balance in just a few months, that fee could cost you more than the interest rate on the original card. Crunch the numbers based on your situation to make sure you’ll save.
  • Address the core problem: A balance transfer credit card can help you pay down debt, but it won’t provide a solution for the reasons you got into debt in the first place. Take a look at your cash flow and determine what caused you to rack up credit card debt. Then find a way to address those problems in other ways, such as reducing expenses, increasing revenue, or looking for cheaper business financing options.

The bottom line

If you have a credit card balance, a small business balance transfer credit card can make your life a whole lot easier. What’s more, the best ones also provide other benefits that make them worth holding onto long after the promotional period ends. 

As you look for the right card for your business, shop around. Compare these and other top business credit cards to ensure that you get the features that will best help you and your business.  

Once you get the card, request the balance transfer as quickly as possible to maximize the 0% APR promotion. If you can, work aggressively to pay down the debt, so you don’t end up dealing with high interest rates again after the promotion ends.