Here is a complete guide to learn more about how business credit cards balance transfer works, how to apply and 7 best balance transfer credit card for bad credit and fair credit score.
By consolidating high-interest debts into one balance transfer, business credit card owners can save time and money. If you are looking forward to having a balance transfer credit card for fair credit, then you need to look no further. Here, you will find different types of business credit card companies for a balance transfer.
How Does Business Credit Cards Balance Transfer Work?
The business credit balance transfer generally is used by clients who wish to move the amount they owe to a credit card with a minimum promotional interest rate. Moreover, the rewards program helps in earning cash back points. Some credit card companies also waive the transfer fees. The business credit card balance transfer offers 0% APR for a given timeline. It is generally for 9 to 18 months, allowing you to pay your debt interest-free.
The cardholders might face one or more credit card debts that they cannot pay off at once. In that case, they might transfer the entire outstanding amount from all the credit card accounts to a single account. The balance transfer credit cards, consolidating the exceptional amount, ideally charge a much lower interest rate than the finance charges.
7 Business Credit Cards For Balance Transfer [Compare + Review]
Each bank has its own benefits when it comes to business credit cards balance transfer which includes APR, annual fee, reward points, hidden charges(if any), process, etc. The only way to know which suits your requirement is by comparing business credit cards balance transfer with each other. Here is the list of 7 business credit cards balance transfer you must know in 2023:
1. Capital one credit card balance transfer
2. USAA credit card balance transfer
3. Wells fargo balance transfer credit card
4. US Bank credit card balance transfer
5. HSBC credit card balance transfer
6. Chase Bank business credit cards balance transfer
7. Edward Jones Business Credit Cards Balance Transfer
1. Capital One Credit Card Balance Transfer: Best No-Fee Balance Transfer
You can use the Capital One credit card balance transfer to transfer balances from credit cards and personal loans. Even student loans and car loans issued by other lenders can be transferred. The process becomes a lot easier if you have an existing balance transfer credit card from Capital One. The best thing is that you don’t need to pay a balance transfer fee using this card. The cards are made available to people with excellent credit.
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2. USAA Credit Card Balance Transfer
USAA credit card balance transfer allows an individual to transfer a minimum of $10. With USAA, the transfer limit is 95% of the credit limit. This limit can be less in the case of any other balances. Individuals can easily do a balance transfer from any of the non-USSA domestic credit or retail cards.
3. Wells Fargo Balance Transfer Credit Card: Best for earning rewards
The Wells Fargo business platinum lets you have two different options to earn rewards on your spending. The balance transfer credit card for fair credit card is a great option if you look forward to earning online rewards. They also have a cashback option with which you can earn 1.5% cash back for each dollar you spend. Besides making cash back on regular spending, new cardholders can also qualify for a one-time cash bonus.
4. US Bank Credit Card Balance Transfer: Longest 0 percent APR offer
The US bank credit card balance transfer is your best bet if your objective is to transfer high balances. It offers 0% introductory APR on balance transfers and purchases. You need to transfer the balance 30 days after opening the account to qualify for the 0% APR. Although this card does not offer any introductory bonuses or ongoing rewards, it comes with no annual fee. Above all, you can monitor the expenses with the visa business reporting tool.
5. HSBC Credit Card Balance Transfer
Using the balance transfer option, HSBC allows customers to transfer their outstanding balance from other bank credit cards to the HSBC credit card without any extra hassle. The customers can also utilize their phone banking and SMS banking services. In addition, the credit card balance can be transferred and reimbursed in installments.
6. Chase Bank Business Credit Cards Balance Transfer: Best Sign-On Bonus
The Chase Bank business credit cards are a super valuable tool for someone who has been badly stuck with paying a super high APR. Chase bank business cards can help in consolidating and paying down debts with absolutely zero interest rates. They can help you pay off your debts faster and also save some money every month. Most Chase credit cards have no annual fee and a 0% APR offer for about 18 months on purchases and balance transfers.
7. Edward Jones Business Credit Cards Balance Transfer
Edward Jones business credit card balance transfer is the only credit card that offers a 0% introductory balance transfer fee for the balance of data transferred within the first 60 days from opening the account. In addition, the card shows an annual fee of $0 for the first year, and the annual fee is waived as long as you make at least one purchase using the credit card every year.
3 Best Balance Transfer Credit Card For Bad Credit
The balance transfer credit card for bad credit can help you consolidate and even come with a 0% introductory APR that enables you to save money and pay down the debt transfer. As secured credit cards require some cash deposit as collateral, your credit limit is ideally equal to or close to the deposit amount. Balance transfer credit cards for bad credit might help you save money. Before applying, you need to check how much you can save with this option. But you need to remember that each card has its pros and cons.
- Discover it Secured Credit Card
- Capital One Platinum Secured Credit Card
- Secured Sable ONE Credit Card
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3 Best Balance Transfer Credit Card For Fair Credit
You can use a balance transfer offer as a smart move if you are carrying a high-interest card debt that you cannot pay off right away. The lesser you pay the interest fees, the more you pay off the principal debt. However, you might not be eligible for some of the best balance transfer cards on the market with bad credit. But you can apply for the best balance transfer credit card for fair credit with different perks.
- Navy Federal Credit Union Platinum Credit Card
- Upgrade Visa Card with Cash Rewards
- Capital One QuicksilverOne Cash Rewards Credit Card
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How To Apply For Business Credit Cards Balance Transfer?
The cardholders can apply for the business credit cards balance transfer through net banking, SMS, contact customer care, etc. But those who want to apply for a new balance transfer credit cards must meet the eligibility criteria set by the specific bank for that particular card variant. Details about the eligibility criteria might vary from bank to bank. Proof of identity, address, and income will be required at the new credit card application time. This whole process may feel overwhelming for many, especially when you are worried about your financial situation.
In that case, Mount Shine can be of great help when it comes to applying for the business credit cards balance transfer. Let our experts advise you which card is best suitable according to your requirements. Contact us now.