Best Business Credit Cards for Balance Transfers

of July 2024

Best Business Credit Cards for Balance Transfers

In This Article

If you’re a small business owner with high-interest credit card debt, a balance transfer credit card can help you save money on interest and pay off your debt faster. Here are the best business credit cards for balance transfers.

When choosing a balance transfer credit card, it’s important to consider your individual needs and circumstances. Some factors to consider include the length of the introductory APR period, the balance transfer fee, the regular APR, the rewards program, and the annual fee.

1. U.S. Bank Business Platinum Card

9.9/10

U.S. Bank Business Platinum Card

The U.S. Bank Business Platinum Card offers a long 0% introductory APR period on balance transfers, as well as a low balance transfer fee. It also has a solid rewards program that can help you earn cash back on your everyday business expenses.

Pros

  • Offers a 0% intro APR on purchases and balance transfers for 18 billing cycles.
  • Gives a $0 annual fee.
  • Provides free employee cards.

Cons

  • Does not offer a rewards program.
  • Has a high APR after the intro period (17.24% – 26.24% variable).
  • Charges a balance transfer fee of 3% or $5 minimum.
  • Credit score requirement: 690+
  • Welcome offer: 0% intro APR on purchases and balance transfers for 18 billing cycles
  • Annual fee: $0
  • APR: 17.24% – 26.24% variable
  • Balance transfer fee: 3% or $5 minimum, whichever is greater
  • Rewards: None
  • Other benefits: Free employee cards, VISA Spend Clarity expense management tool

2. U.S. Bank Business Triple Cash Rewards World Elite Mastercard

9.7/10

U.S. Bank Business Triple Cash Rewards World Elite Mastercard

The U.S. Bank Business Triple Cash Rewards World Elite Mastercard offers a great rewards program that can help you earn cash back on all of your business expenses. It also has a long 0% introductory APR period on balance transfers and no annual fee.

U.S. Bank Business Triple Cash Rewards World Elite Mastercard

Pros

  • Offers 3% cash back on gas, office supplies, and cellular phone services.
  • Offers 2% cash back on all other purchases.
  • Gives a $0 annual fee.
  • Charges no foreign transaction fees.
  • Provides cell phone protection.

Cons

  • Does not offer an intro APR offer.
  • Has a high APR after the intro period (17.49% – 26.49% variable).
  • Charges a balance transfer fee of 3% or $5 minimum, whichever is greater.
  • Credit score requirement: 720+
  • Welcome offer: None
  • Annual fee: $0
  • APR: 17.49% – 26.49% variable
  • Balance transfer fee: 3% or $5 minimum, whichever is greater
  • Rewards: 3% cash back on gas, 3% cash back on office supplies, 3% cash back on cellular phone services and 2% cash back on all other purchases
  • Other benefits: No foreign transaction fees, cell phone protection

3. PNC Visa® Business Credit Card

9.4/10

PNC Visa Business Credit Card

The PNC Visa® Business Credit Card offers a long 0% introductory APR period on balance transfers, as well as a 90-day window to make your transfers. It also has a low balance transfer fee and no annual fee.

Pros

  • Offers 2% cash back on all purchases.
  • Has a $0 annual fee.
  • Charges no foreign transaction fees.
  • Provides cell phone protection.

Cons

  • Does not offer an intro APR offer.
  • Has a high APR after the intro period (16.49% – 25.49% variable).
  • Charges a balance transfer fee of 3% or $5 minimum.
  • Credit score requirement: 720+
  • Welcome offer: None
  • Annual fee: $0
  • APR: 16.49% – 25.49% variable
  • Balance transfer fee: 3% or $5 minimum, whichever is greater
  • Rewards: 2% cash back on all purchases
  • Other benefits: No foreign transaction fees, cell phone protection

4. Wells Fargo Business Platinum Card

9.1/10

Wells Fargo Business Platinum Card

The Wells Fargo Business Platinum Card offers a long 0% introductory APR period on balance transfers, as well as a sign-up bonus that can help you earn cash back on your balance transfers. It also has a solid rewards program that can help you earn points on your everyday business expenses.

Pros

  • Earns 3% cash back on gas.
  • Earns 2% cash back on restaurants and flights.
  • Earns 1% cash back on all other purchases.
  • Has a $0 annual fee for the first year, then $95.
  • Charges no foreign transaction fees.
  • Provides cell phone protection.

Cons

  • Does not offer an intro APR offer.
  • Has a high APR after the intro period (16.49% – 25.49% variable).
  • Charges a balance transfer fee of 3% or $5 minimum.
  • Credit score requirement: 720+
  • Welcome offer: None
  • Annual fee: $0 for the first year, then $95
  • APR: 16.49% – 25.49% variable
  • Balance transfer fee: 3% or $5 minimum, whichever is greater
  • Rewards: 3% cash back on gas, 2% cash back on restaurants and flights and 1% cash back on all other purchases
  • Other benefits: No foreign transaction fees, cell phone protection

5. Citi Business® / AAdvantage® Platinum Select® Card

9/10

Citi Business / AAdvantage® Platinum Select Card

The Citi Business® / AAdvantage® Platinum Select® Card offers a long 0% introductory APR period on balance transfers and a sign-up bonus that can earn you miles on American Airlines. It also has a solid rewards program that can help you earn miles on your everyday business expenses.

Pros

  • Award 50,000 American Airlines AAdvantage® bonus miles after you spend $3,000 on purchases within 4 months of account opening.
  • Earn 2x miles on American Airlines purchases and on gas stations, office supplies, and cellular phone services.
  • Earn 1x miles on all other purchases.
  • Has a $99 annual fee waived the first year.
  • Charges no foreign transaction fees.
  • Offers complimentary first checked bag on domestic American Airlines flights for you and up to four companions.
  • Provides preferred boarding.
  • Gives 25% savings on inflight food, beverages, and Wi-Fi.

Cons

  • Does not offer an intro APR offer.
  • Has a high APR after the intro period (16.49% – 26.49% variable).
  • Charges a balance transfer fee of 3% or $5 minimum, whichever is greater.
  • Credit score requirement: 700+
  • Welcome offer: 50,000 American Airlines AAdvantage® bonus miles after you spend $3,000 on purchases within 4 months of account opening
  • Annual fee: $99, waived the first year
  • APR: 16.49% – 26.49% variable
  • Balance transfer fee: 3% or $5 minimum, whichever is greater
  • Rewards: 2x miles on American Airlines purchases, 2x miles on gas stations, office supplies, and cellular phone services and 1x miles on all other purchases
  • Other benefits: Complimentary first checked bag on domestic American Airlines flights for you and up to four companions, preferred boarding, 25% savings on inflight food, beverages, and Wi-Fi

Overview of Best Business Credit Cards for Balance Transfers

A balance transfer credit card is a type of credit card that allows you to transfer debt from one credit card to another. This can be a great way to save money on interest if you have a lot of high-interest credit card debt.

Discover the best business credit cards for balance transfers to optimize your company’s financial strategy. The U.S. Bank Business Platinum Card stands out with its 0% introductory APR on balance transfers, providing extended interest-free periods.

The U.S. Bank Business Triple Cash Rewards World Elite Mastercard combines balance transfers with a lucrative cash rewards program. The PNC Visa Business Credit Card offers competitive terms for effective debt management. The Wells Fargo Business Platinum Card streamlines payments and provides essential expense tracking tools. The Citi Business / AAdvantage Platinum Select Card uniquely combines balance transfer benefits with travel rewards, catering to your business if you often incur travel expenses. Select the card that aligns with your business goals and financial needs to make the most of your credit strategy.

How to Choose the Best Business Credit Cards for Balance Transfers

Here are some tips for choosing the best business credit card for balance transfers:

  • Compare introductory APRs: This is the most important factor to consider when choosing a balance transfer credit card. Look for a card with a long introductory APR, such as 18 months.
  • Consider the balance transfer fee: The balance transfer fee is typically 3% of the balance you transfer. If you have a large balance, the balance transfer fee can be significant.
  • Choose a card with a rewards program: If you’re looking to earn rewards on your balance transfers, choose a card with a rewards program that you’ll use. Some popular rewards programs include cash back, points, and miles.
  • Avoid cards with annual fees: If you can, avoid cards with annual fees. These fees can add up over time, especially if you don’t use the card often.

Pros & Cons of Best Business Credit Cards for Balance Transfers

  • Debt Consolidation: Simplify payments by combining multiple debts into one account.
  • Interest Savings: Take advantage of lower or 0% APR during promotional periods.
  • Financial Flexibility: Manage obligations without immediate high-interest payments.
  • Expense Management: Access tools for tracking spending and planning.
  • Rewards and Perks: Some cards offer rewards on top of balance transfer benefits.
  • Short Promotional Period: Introductory APR offers are temporary.
  • Balance Transfer Fees: Some cards charge fees for transferring balances.
  • Credit Qualifications: Good credit often required for the best offers.
  • Potential Overspending: New purchases might increase debt load.
  • Risk of Default: Transfers don’t address underlying financial challenges.

What to Watch Out For

  • Make sure you understand the terms and conditions of the balance transfer offer: There may be hidden fees or restrictions that you’re not aware of.
  • Be sure to pay off your balance before the introductory APR period ends: Otherwise, you’ll be stuck with a high regular APR.
  • Avoid carrying a balance on your balance transfer card: This will only increase your debt and make it harder to pay off.

Pro Tips

  • Compare offers from multiple credit card issuers: Get quotes from several different credit card issuers before you choose a balance transfer card. This will help you find the best deal.
  • Pay off your balance as quickly as possible: The longer you take to pay off your balance, the more interest you’ll pay.
  • Use your balance transfer card for everyday purchases: This will help you earn rewards and pay off your balance faster.

Don’t use your balance transfer card for unnecessary purchases: Only use your balance transfer card to pay off debt. Otherwise, you’ll just end up in more debt.

Recap

A balance transfer credit card can be a great way to save money on interest if you have a lot of high-interest credit card debt. When choosing the best business credit card for balance transfers, it’s important to compare introductory APRs, consider the balance transfer fee, choose a card with a rewards program, and avoid cards with annual fees.

Some of the best business credit cards for balance transfers include the U.S. Bank Business Platinum Card, the U.S. Bank Business Triple Cash Rewards World Elite Mastercard, the PNC Visa® Business Credit Card, the Wells Fargo Business Platinum Card, and the Citi Business® / AAdvantage® Platinum Select® Card.

When using a balance transfer credit card, it’s important to make sure you understand the terms and conditions of the balance transfer offer, pay off your balance before the introductory APR period ends, and avoid carrying a balance on your balance transfer card.

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