Business credit card balance transfer offers allow you to move a balance from one card to another with little-to-no transfer costs. The best of the bunch have up to 20 billing cycles of interest-free financing. Because these cards have extensive 0% introductory APR periods, they offer a great way to pay off other high-interest credit cards.
The best business credit card balance transfer offers of 2020 are:
- U.S. Bank Business Platinum Card: (Best overall) Best for 0% annual percentage rate (APR) on balance transfers and purchases for 20 billing cycles
- U.S. Bank Business Cash Rewards World EliteTM MasterCard®: Best for earning rewards with a long 0% APR period
- Wells Fargo Business Platinum Credit Card: Best for cash back or points rewards option
Small business owners can use these balance transfer credit cards to help them consolidate their debt and pay off high-interest debts with no interest during the COVID-19 pandemic. You also may be eligible for additional financial relief through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
For more details on how we evaluated business credit cards for this list, see our methodology.
U.S. Bank Business Platinum Card: Overall Best Business Credit Card Balance Transfer Offer
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 tops our list for the best business credit card balance transfer offer because of its lengthy 0% APR period. This is the ideal card to use for paying off your other credit card balances and business debts. After that, you’ll get one of the lowest ongoing APRs available on a business credit card.
This card doesn’t have the bells and whistles that some other cards have like ongoing rewards and enticing introductory bonuses. However, it’s a perfect option for business owners looking to finance expenses and pay down debt as quickly and as cheaply as possible.
Issue up to 10 employee cards when you apply and manage employee spending with online management tools that are easily accessible. This card also comes with standard card perks like auto rental collision damage waiver and purchase security too. However, we didn’t rank the U.S. Bank Business Platinum Card as the best 0% APR business card for much more than its excellent introductory APR offer.
Balance transfer fee: $5 or 3% of the transfer, whichever is greater.
U.S. Bank Business Cash Rewards World Elite™ Mastercard®: Best for Earning an Annual Cash Bonus
U.S. Bank Business Cash Rewards World Elite™ Mastercard®
Best For: Tiered rewards on gas station, office supply store and cell phone purchases
|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: If you value a long introductory 0% APR period and rewards program, this card may prove to be more valuable than our top pick. Although it’s no-interest financing period is shorter by five billing cycles, you can earn 3% cash back and a unique bonus.
This is the only card on our list that offers two types of bonus rewards. You’ll be able to earn an annual cash bonus based on your rewards from the previous year, up to $250. On top of that, if you spend at least $900 per month for the first five months, you can earn this card’s cash-based welcome offer.
Use this card to earn a welcome offer, ongoing rewards, annual bonus, and access 0% APR on purchases and balance transfers for 15 billing cycles.
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 decent 0% APR period, business owners can consolidate debt and maximize card benefits easily. With this card, you can earn an introductory bonus large enough to act as a sizable discount on future purchases, which can make all the difference on your bottom line.
In addition, this card offers more benefits for business owners who have already taken advantage of the no-interest APR period. Wells Fargo Business Platinum Credit Card cardholders have the unique opportunity to choose how they want to earn rewards, making this card even more valuable. Choose between cash back or points rewards and earn the sign-up bonus in the form of your selected rewards.
Balance transfer fee: Varies, based on the specific offer you receive.
How We Evaluated the Best Business Balance Transfer Offers
To determine the best business credit card for balance transfers, 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 reward opportunities.
Pros & Cons of Best Business Credit Cards for Balance Transfers
Business credit card balance transfer offers help business owners move credit card balances to cards with lower interest rates. These business credit cards can help you save money on interest, consolidate your payments, and earn better rewards. However, low balance transfer interest rates don’t last forever.
Pros of Best Business Credit Cards for Balance Transfers
- 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. Plus, some of the best business credit cards offer introductory 0% APR periods on balance transfers.
- You can consolidate your credit card payments: You can combine multiple credit card balances by moving them over to a balance transfer business credit card. This allows you to focus on one credit card payment every month instead of making several payments for different credit cards.
- You can move your debt to a stronger credit card: In addition to transferring balances to cards with lower interest rates, this also allows you to choose a card with better rewards. Choosing a credit card with a strong rewards structure can provide more value beyond the business credit card balance transfer offer.
Cons of Best Business Credit Cards for Balance Transfers
- Require strong personal credit scores: To qualify for a balance transfer business credit card, it’s likely you will need a personal credit score of 670 or higher. If your credit score is below 670, you could try for a business credit card for fair credit.
- Low balance transfer interest rates don’t last forever: Typically, the best business credit cards for balance transfers offer 0% APR for up to nine billing cycles. 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.
- You may have to pay a balance transfer fee: Most business credit cards charge a small balance fee of between 3% and 5% of the transfer amount. Typically, card providers will set the balance transfer fee minimum to $5 or $10.
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.
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 credit cards for self-employed workers are those that charge no annual fees, charge low ongoing interest, and offer an introductory 0% APR period, similar to sole proprietorship credit cards. We believe the best balance transfer credit card for self-employed workers is the U.S. Bank Business Platinum Card.
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. If done correctly, balance transfers can help you pay down your debt and improve your credit score.
A balance transfer is an excellent way for business owners to move their credit card balances to a card that offers 0% APR. The best business credit cards for balance transfers offer introductory 0% APR periods up to 20 billing cycles. Using credit cards isn’t the only way to pay down debt, but it’s a lot easier with the low-cost financing these cards provide.