Editor’s note: This is a recurring post with regularly updated card details.
Balance transfers allow you to move a balance from one business credit card to another with little-to-no transfer costs. The best options come with interest-free financing for up to 15 billing cycles. These extensive 0% introductory annual percentage rate (APR) periods typically are the easiest way to pay off other high-interest credit card debt.
The best business credit card balance transfer offers are:
- U.S. Bank Business Triple Cash Rewards World EliteTM MasterCard®: Best overall for 0% APR on balance transfers and purchases for 15 billing cycles
- U.S. Bank Business Platinum Card: Best for the lowest ongoing APR after the introductory period ends
- Wells Fargo Business Platinum Credit Card: Best for cash back or points rewards
U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard®: Overall Best Business Credit Card Balance Transfer Offer
U.S. Bank Business Triple Cash Rewards Visa®
BEST FOR
0% APR for 15 Billing Cycles
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard® the card that gives back on all your eligible business needs.
- Limited time offer: Earn $500 in cash back. Just spend $4,500 on the Account Owner's card in the first 150 days of opening your account.
- Earn 3% cash back on eligible purchases at gas stations, office supply stores, cellphone service providers. and restaurants.
- 1% cash back on all other eligible net purchases.
- No limit on total cash back earned.
- Rewards never expire
- Earn an annual $100 statement credit for recurring software subscription expenses like FreshBooks or QuickBooks.
- 0% Intro APR on purchase and balance transfers for 15 billing cycles. After that, a variable APR that is currently 13.99% to 22.99%.
- No annual fee.
- Great Offer from U.S. Bank, a 2021 World's Most Ethical Company® - Ethisphere Institute, February 2021.
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR does not apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional 1 year from the expiration of warranties of 5 years or less. An item with a 6-month warranty would be backed for an additional 6 months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
Why we like it: The U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard® tops our list because of its 15-billing-cycle introductory 0% APR period and rewards program. You can earn 3% cash back at gas stations, office supply stores and cellphone service providers as well as bonus rewards each year. Our second pick has the same 0% APR offer. However, it does not offer introductory or ongoing rewards.
You’ll earn $500 in cash back when you spend $4500 on the Account Owner’s card in the first 150 days of opening your account. This small business credit card is an excellent choice if you’re looking to cash in on lucrative rewards, and it also ranks as the best 0% APR business card.
Balance transfer fee: $5 or 3% of the transfer, whichever is greater.
U.S. Bank Business Platinum Card: Best for Lowest Ongoing APR
U.S. Bank Business Platinum Card
BEST FOR
Extended 0% APR period on purchases and balance transfers
- 0% Intro APR* on purchases and balance transfers for the first 18 billing cycles. After that, variable APR, which is currently 11.99% to 20.99%*
- No annual fee*
- Free employee cards
- Zero fraud liability* protects you against unauthorized transactions
Pros
- Offers a long 0% APR introductory period
- 0% APR applies to both purchases and balance transfers
- No annual fee
Cons
- No introductory and ongoing rewards
- Balance transfer fee is charged even during the introductory period
- Extended warranty protection: U.S. Bank will double an original manufacturer’s warranty up to an additional one year for warranties of three years or less. Coverage is limited to $10,000 per item.
- Purchase protection: U.S. Bank offers purchase protection for items that are damaged or stolen within 90 days of purchase. The coverage is limited to $500 per claim and up to $50,000 per cardholder, per year.
Why we like it: The U.S. Bank Business Platinum Card falls short of our top pick for one reason: it doesn’t offer introductory or ongoing rewards. However, it does offer the same introductory 0% APR offer of no interest on purchases and balance transfers for 15 billing cycles. After the introductory period ends, you’ll have the lowest ongoing APR on this list.
This card doesn’t hold much value beyond the introductory financing offer because it lacks ongoing rewards and enticing introductory bonuses other cards offer. That means you should only use this card to finance expenses and pay down debt as quickly and as cheaply as possible.
Balance transfer fee: $5 or 3% of the transfer, whichever is greater
Wells Fargo Business Platinum Credit Card: Best for Cash Back or Points Rewards
Wells Fargo Business Platinum Credit Card
BEST FOR
Choosing cash-back or points rewards with no annual fee
- Get a one-time $500 cash back bonus or 50,000 bonus points when you enroll in the Business Card Rewards Program and spend $3,000 in the first three months of account open date; $0 annual rewards fee
- Earn 1.5% cash back on every $1 spent
- Earn 1 point on every $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any monthly billing period
- No annual card fee, plus up to 99 employee cards (no additional fee)
- Cash management tools
- Spending reports available online
- Online banking and bill payment options
Pros
- Excellent introductory bonus offer
- No-interest financing period
- Ongoing bonus rewards for meeting monthly spending requirements
Cons
- Low ongoing rewards
- Airline ticket redemption fees
- Points have an expiration
- Purchase security: Wells Fargo offers coverage for purchased items that have been damaged or stolen within 90 days of purchase. They may repair, replace, or reimburse you for the items. Coverage is limited to $10,000 per item and up to $50,000 per year.
- Wells Fargo design studio: Wells Fargo allows you to design your card by uploading an image that represents your company. For example, the image could be your business logo or storefront.
Why we like it: The Wells Fargo Business Platinum Credit Card is a great fit for growing businesses that haven’t yet hit more than $2 million in annual sales. Although this card only offers a nine-month 0% APR period, business owners can still consolidate high-interest debt easily. Plus, you can earn an introductory bonus large enough to have a positive impact on your bottom line.
In addition, this card offers more benefits for business owners who’ve already taken advantage of the no-interest financing period. You’ll get the opportunity to select how you want to earn rewards, either as cash back or points. It pays 1.5% cash back or one point on every $1 spent. If you choose points-based rewards, you’ll also earn 1,000 bonus points when you spend at least $1,000 in any month.
Balance transfer fee: Varies, based on the specific offer you receive
Pros of Balance Transfer Business Credit Cards
- Help reduce the amount of interest paid: Balance transfers can help you move balances from credit cards with higher interest rates to credit cards with lower interest rates.
- Consolidate credit card payments: You can combine multiple credit card balances, allowing you to focus on one credit card payment each month.
- Move your debt to a better business credit card: Choosing a credit card with a strong rewards structure can provide more value beyond the balance transfer offer.
Cons of Balance Transfer Business Credit Cards
- Strong personal credit scores required: To qualify for a balance transfer business credit card, it’s likely you will need a personal credit score of at least 670. If your credit score is below 670, you could apply for a business credit card for fair credit. However, those cards don’t offer interest-free financing periods.
- Low balance transfer interest rates don’t last forever: If you’re using a balance transfer card to help pay off debt, it’s important to have your balance paid down by the end of the promotional period to avoid interest charges.
- Balance transfer fee payments: Most business credit cards charge a small balance fee between 3% to 5% of the transfer amount, with a minimum fee of $5 to $10.
How We Evaluated the Best Business Balance Transfer Offers
To determine the best balance transfer offers, we only considered business credit cards that offer an introductory 0% APR period on balance transfers. When ranking cards with those offers, we took into account the length of the introductory period, balance transfer fees, ongoing APRs, and potential rewards opportunities.
Frequently Asked Questions (FAQs)
We covered a lot of information about the best business credit cards for balance transfers. Some questions are asked more often than others, and we address those here. If you have any other questions, leave a comment below, and we will provide an answer.
Can you transfer a business credit card balance to a personal credit card?
You can transfer a business credit card balance to a personal credit card, depending on the card issuer. However, it’s important to note that you can’t build your business credit by using a personal credit card. If you want to build your business credit, it’s best to use a business credit card.
What balance transfer credit card is best for self-employed workers?
The best balance transfer credit card for self-employed workers typically charges no annual fees, pays ongoing rewards, and offers an introductory 0% APR period, similar to sole-proprietorship credit cards.
Do balance transfers affect your credit score?
Depending on a few different factors, balance transfers can either have a positive or negative impact on your credit score. Applying for several low-interest credit cards at once may hurt your credit score. However, if done correctly, balance transfers can help you pay down your debt quickly and improve your credit score.
Bottom Line
A balance transfer is an excellent way for business owners to move their credit card balances to a card that offers 0% APR. Through the best options, you can receive introductory 0% APR periods up to 15 billing cycles. Using an offer like this isn’t the only way to pay down debt, but low-cost financing makes it a lot easier.
