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 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 Cash Rewards World Elite™ Mastercard®: Overall Best Business Credit Card Balance Transfer Offer
U.S. Bank Business Cash Rewards World Elite™ Mastercard®
Best For: 0% APR for 15 Billing Cycles
| Intro APR ?0% APR for 15 billing cycles on purchases and balance transfers | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|
| 0%* | 11.99% - 22.99% Variable | $0* | Excellent |
Why we like it: The U.S. Bank Business 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.
Although the ongoing rewards program restricts rewards to gas stations, office supply stores and cellphone/service providers, for the first 180 days you’ll earn 3% cash back on all purchases, which maxes out at $500 in rewards. Plus, you’ll get an annual cash bonus based on your previous year’s rewards—up to $250. 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
| Intro APR ?0% APR for 20 billing cycles on purchases and balance transfers | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|
| 0%* | 9.99% - 17.99% Variable | $0 | Excellent |
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
| Intro APR ?0% APR for nine months on purchases and balance transfers | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|
| 0% | 12.74% - 22.74% Variable | $0 | Excellent |
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.
