NerdWallet Editor's Choice: Best Business Credit Cards for Balance Transfers
Our picks are ordered by intro APR period length. Please check the issuing company's website for details before applying.
US Bank Business Platinum Card
Best for: Maximum interest-free period
NerdWallet star rating: 2.2
0% introductory APR for 18 billing cycles on purchases and balance transfers, then recurring APR of 17.24% to 26.24% variable APR
US Bank Business Platinum Card
This period is much longer than those found on competing cards and applies to balance transfers and new purchases. Balance transfer fees are as follows:
3% of each transfer amount or a minimum of $5, whichever is greater.
. The main drawbacks of this card are the lack of ongoing benefits or perks and the 3% foreign transaction fee, making it unsuitable for spending abroad.
US Bank Business Triple Cash Rewards World Elite Mastercard®
Perfect for: Whole balance transfer business card
Five
0% introductory APR for 15 billing cycles on purchases and balance transfers, then recurring APR of 19.24% to 28.24% variable APR.
US Bank Business Triple Cash Rewards World Elite Mastercard®
offers a long 0% period, generous sign-up bonus ($
500
) and great cashback benefits.
Earn 3% cash back on eligible purchases at gas stations, office supply stores, cell phone service providers, and restaurants.Earn 1% cashback on all other eligible online purchases
. Balance transfer fees are as follows:
3% of each transfer amount or a minimum of $5, whichever is greater.
. Please check the details and apply.
PNC Visa® Business Credit Card
Best fit: 90-day transfer window
This card has not been rated by NerdWallet
APR introductory offer: 0% APR for 13 billing cycles on balances transferred within 90 days, then an ongoing variable APR of 15.24% to 25.24% (as of this writing)
While most balance transfer cards give you a 30-day grace period to transfer debt, the PNC Visa Business Card has a 90-day grace period, giving you more flexibility to plan your debt repayment strategy. You can However, please note that if you make multiple transfers, each will incur a balance transfer fee of $5 or 3% of each transfer amount, whichever is greater. However, the PNC Visa Business card doesn't have many extra features beyond that, so consider it only to pay off existing debt.
Wells Fargo Reflect® Card
Best for: Sole traders (personal cards)
4.5
0% initial APR for 21 months from account opening on purchases and eligible balance transfers, then variable APR of 18.24%, 24.74%, or 29.99% APR
Wells Fargo Reflect® Card
This is a personal credit card. For sole traders, it is worth considering as it has one of the longest 0% introductory annual rate periods on the market (reaching almost 2 years). You'd be hard-pressed to find a longer interest-free promotion. This promotion applies to both purchases and balance transfers. The balance transfer fee is
5%, minimum: $5
. Please read the review.
Chase Freedom Unlimited®
Best for: Sole traders (personal cards)
Five
0% initial APR on purchases and balance transfers for 15 months, then recurring APR 20.49% – 29.24% variable APR
Chase Freedom Unlimited®
This is another personal credit card that sole proprietors may want to consider. It offers a 0% introductory APR period, ongoing cash back, and the opportunity to earn guaranteed cash bonuses when you make other purchases with your card.
Earn an additional 1.5% cash back on all purchases (up to $20,000 spent in the first year), up to $300 in cash back.
Balance transfer fees are as follows:
The greater of $5 or 5% of each transfer amount.
Please read the review.
Regional bank/regional bank balance transfer business card
Some local banks and credit unions offer business credit cards with 0% APR balance transfer periods.
Consider options such as:
-
M&T Bank Business Rewards Credit Card, offers 0% APR on balance transfers for the first 12 months. Balance transfers are subject to a fee of 4% or $10, whichever is higher. M&T Bank serves the Mid-Atlantic states.
-
First Citizens Bank Rewards Business Credit Card; For the first 9 months, the APR on balance transfers is 0%. Balance transfers are subject to a 3% fee (minimum $5). First Citizens Bank has branches in 23 states.
-
Umpqua Bank Visa Business Card; We offer 0% APR on balance transfers for the first 18 months. Balance transfers are subject to a fee of 3% or $5, whichever is greater. Umpqua Bank has branches in Arizona, California, Colorado, Idaho, Nevada, Oregon, Utah, and Washington, and this card is issued by Elan Financial Services.
These smaller banks may require you to visit a branch in person to open an account.
How do balance transfer business credit cards work?
These are the steps required to transfer business credit card balances.
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Choose a balance transfer credit card. Compare cards based on 0% APR periods, balance transfer fees, and ongoing perks and perks. There are only a handful of business cards that have a 0% APR period for balance transfers. A self-employed person can consider a personal card with a balance transfer offer of 0% for her, expanding her list of options.
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Be aware of credit limits. If you're trying to consolidate $20,000 of credit card debt, but your credit limit is $15,000, the maximum amount you can transfer to your new card is $15,000, and your issuer may not approve the full amount. Business cards tend to have higher limits than personal cards, but they may still limit the amount you can send.
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Please pay the balance transfer fee. Even balance transfer business credit cards with 0% APR may have balance transfer fees. These are usually percentages of your total balance. For example, if you transfer $10,000 of credit card debt, you will pay $500 if the card has a 5% fee.
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Repay the transferred debt. If you have a card with a 0% APR, make sure to pay off the debt before the end of the period. Please be careful not to miss any payments. If you miss a payment, your credit card issuer may end your interest-free period early and charge you a higher APR as a penalty.
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Pay the ongoing APR after the promotional period ends. If the 0% APR introductory period lasts 9 billing cycles, you will pay the ongoing interest charged by your Card on your remaining balance during the 10th billing cycle. For example, if you have $2,000 left on your payment and your card charges 20% APR, you'll pay $33.14 in interest that month.
🤓 Otaku Tips
All business owners should keep business and personal expenses separate to avoid tax headaches. However, corporate businesses especially should avoid using personal credit cards for expenses. Using a card in your own name rather than your company's name can put your limited liability protection at risk. Check out our picks for the best business credit cards for LLCs.
