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Top Business Credit Card Balance Transfer Offers

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Sometimes you’ll need to transfer a previous credit card balance when getting a new card. However, not every card is made equal when it comes to transferring in an old balance. Some add on extra transfer fees or put a cap on how much you can transfer. Others may even tack APR onto balance transfers. Unfortunately, it’s not always easy to figure out the best credit card options when it comes to transferring a balance.

That’s why we’ve picked out some of the top balance transfer credit card offers for business owners. Read on through to find out which card could be best for you.

Top Business Credit Cards For Balance Transfers

Best Overall Pick: American Express Blue Business Plus

Blue Business Plus Credit Card from American Express



Compare

Annual Fee:


$0

 

Purchase APR:


13.49% - 21.49%, Variable

With a 0% intro APR for the first 15 months on purchases and balance transfers, this card from American Express offers the longest introductory period currently available. That means you’ll have plenty of time to pay your balance without racking up interest charges. For rewards, it provides two points per $1 up to $50,000 spent, and then one point per $1 after you hit that cap. Those points are usually worth $0.01 but may wind up higher or lower depending on how they are redeemed. Keep in mind that the balance transfer fee sits at 3% (with a minimum fee of $5) although that’s relatively normal.

For an in-depth look, spend some time with Merchant Maverick’s complete review.

Best For Those With Fair Credit: Capital One Spark Classic for Business

Spark Classic From Capital One


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Annual Fee:


$0

 

Purchase APR:


25.24%, Variable

Because Capital One markets this card towards average credit applicants while packaging it with unlimited 1% cash back on all purchases, Spark Classic is a solid choice for those with fair credit. As long as you manage your account responsibly, you’ll help build up your credit score. Increasing your credit score could potentially allow you to switch to a card with better rewards. The Spark Classic for Business also comes with no balance transfer fee, no annual fee, and no foreign transaction fee.

Read our ultimate guide to learn more about improving your business credit score.

Best No Balance Transfer Fee: Capital One Spark Cash for Business

Spark Cash From Capital One


capital one spark cash select
Compare

Annual Fee:


$95 ($0 the first year)

 

Purchase APR:


19.24%, Variable

With its unlimited 2% cash back on all purchases and no balance transfer fee, this card certainly appeals to those looking to transfer debt. Capital One also includes a welcome offer of $500 cash if you spend at least $4,500 in the first 3 months of opening your account. However, there is a $95 annual fee, although it is waived the first year. To qualify for this card, you’ll need to have excellent credit; you’re required to have had a loan or credit card for three-plus years with a credit limit in excess of $5,000 before getting a Spark Cash for Business card.

For a deep dive on Capital One’s card, take a look at Merchant Maverick’s full review.

Best Introductory APR Offer: American Express Blue Business Plus

Blue Business Plus Credit Card from American Express



Compare

Annual Fee:


$0

 

Purchase APR:


13.49% - 21.49%, Variable

While this card also made the list at best overall, its 0% APR for 15 months is hard to beat when looking at introductory APRs. Because that 0% intro APR is applicable to both purchases and balance transfers, this card is especially attractive for those with balance transfers. Do note, however, that American Express does attach a pretty normal balance transfer fee of 3% or $5—whichever is higher.

Get the full rundown on the American Express Blue Business Plus with our in-depth review.

Best For Cash Back: Chase Ink Business Cash

Chase Ink Business Cash



Compare

Annual Fee:


$0

 

Purchase APR:


15.49% - 21.49%, Variable

The Ink Business Cash card offers a 0% intro APR on both purchases and balance transfers for the first 12 months. On top of that, Chase really packs some hefty rewards into their Ink Business Cash credit card. These rewards include 5% back on purchases at office supply stores and on internet, cable, and phone purchases up to a combined $25,000 each account anniversary year. You can also earn 2% back at gas stations and restaurants up to a combined $25,000 each account anniversary year. For everything else, you’ll get 1% cash back.

Head on over to Merchant Maverick’s in-depth review for more details on Chase’s card.

Why Would I Need To Do A Balance Transfer?

Two worried friends having problems buying on line with credit card and a laptop sitting on a couch in the living room at home

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. You may also only want to transfer a certain amount of your debt in order to lower your per-card utilization ratio—potentially increasing your credit score.

Can I Use A Personal Card For A Balance Transfer?

As we mentioned in our guide to using personal credit cards for business expenses, you’ll want to separate personal and business expenses when possible. However, if you’ve already accrued some business debt on a personal card, you can transfer that debt onto your new business card. Doing this will help completely separate your personal and business expenses.

What Do I Need To Qualify & Be Approved?

Approval is dependant on the card and the issuer. Each issuer has their own requirements, but they’ll primarily look at your debt service coverage ratio (DSCR) and—most importantly—credit score. Every financial institution has their own standards, but for the most part, a credit score of 600 – 670 is considered “fair”, 671 – 750 is considered “good” to “very good”, and a score of 751 – 850 is considered “excellent”.

Don’t know your credit score? Visit a comparison of our favorite sites to check your credit score for free. Unsure how to calculate your DSCR? Check out our calculation guide.

What If I Don’t Meet The Necessary Qualifications?

If you’re struggling with your credit score, visit the Merchant Maverick guide to improving your business credit score. You may also be able to consolidate your debt with a short-term loan; read up on the merchant’s guide to short-term loans for more information.

I Transferred My Balance To A New Business Credit Card: Now What?

Once you’ve got your new card be sure to keep up-to-date on payments. Doing so will keep you from falling further into debt as well as increase your credit score.

If you’ve charged a large transaction—or transferred a large balance—you’ll also want to pay as much as possible off before the introductory APR expires. Staying ahead of payments and avoiding interest on debt will save you money.

For those that want more tips for managing credit cards, visit the do’s and don’ts of business credit cards to cover the basics.

Jared Beilby

Jared Beilby

Jared is a writer hailing from the Pacific Northwest. Besides writing for Merchant Maverick, he has experience writing about sports and video games. He holds a Bachelor of Arts in Journalism from George Fox University.
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