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How to Get a 0 Interest Business Credit Card

Published By Faith Stewart at February 12th, 2021

How to Get a 0 Interest Business Credit Card

You’re probably thinking there is no such thing as a 0 interest business credit card. However, that’s not exactly true. While this type of interest rate doesn’t last forever, there are a number of cards that will offer a 0% introductory rate, some of them for a year or more!  

Get a 0 Interest business Credit Card and Make it Work for You

Since a 0 interest business credit card is likely going to turn into a higher interest card after an introductory period, it’s important to know how best to use it while the 0% is available, and what to do to save interest when introductory rates disappear. 

0 Interest Business Credit Card: Top Options0 interest business credit card Credit Suite2 - How to Get a 0 Interest Business Credit Card

 When it comes to short term funding,  0 interest business credit cards can be a life saver.  Here are some of our favorites.  

Blue Business® Plus Credit Card from American Express

The Blue Business® Plus Credit Card from American Express has no yearly fee. The 0% initial APR is for the first year. After that, the APR is a variable 13.24– 19.24%.

You can get double Membership Rewards® points on everyday business purchases like office supplies or client meals for the first $50,000 spent annually. Get 1 point per dollar thereafter.

You will need great credit to qualify.

0 interest business credit card Credit Suite3 - How to Get a 0 Interest Business Credit Card

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

American Express ® Blue Business Cash Card

The American Express ® Blue Business Cash Card is also an option. Note: the American Express ® Blue Business Cash Card is identical to the Blue Business® Plus Credit Card from American Express. It’s rewards are just in cash instead of points.

Get 2% cash back on all qualified purchases up to $50,000 per calendar year. Afterwards get 1%.

There is no annual fee, and there is a 0% introductory APR for the first year. Afterwards, the APR is a variable 13.24– 19.24%.

You will need great credit to qualify.

Discover it ® Business Card

Lastly, check out the Discover it ® Business Card. It has no yearly charge either, and it also has an introductory APR of 0% on purchases for one year. After that the regular APR is a variable 14.49– 22.49%.

Get unlimited 1.5% cash back on all purchases, without category limitations or bonuses. They double the 1.5% Cashback Match ™ at the end of the initial year. There is no spending requirement.

You can download transactions quickly to Quicken, QuickBooks, and Excel. You will need great credit to qualify for this card as well.

Use Your 0 Interest Business Credit Card to Your Advantage

Since the 0% interest doesn’t last forever, you need to make the most of it while it’s available. If you don’t need all of the funds on every 0 interest business credit card available right now, consider only applying for one at the time. 

0 interest business credit card Credit Suite3 - How to Get a 0 Interest Business Credit Card

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

By doing this, you can take advantage of the 0% interest longer. For example, get one card, and use it for whatever you need for the time you have the 0 interest.  Pay it off before the introductory rate ends if you can, then stop using it. Apply for the next 0 interest card when the previous introductory rate ends, then repeat the process.  By doing this, you extend your 0% interest period. 

Another possibility is that you may create competition between the cards and be able to negotiate longer 0% interest periods, or at least lower interest rates than would otherwise be offered.

Know Your Other Options

Of course when it comes to funding a business, there are the obvious options. Business loans, business lines of credit, and business credit cards all have their place. But, there are other options that may sometimes work better. You may be able to get better terms or rates, or get your money faster, with one of these possibilities. 

Equipment Financing

If you need equipment, it might be better to consider equipment financing.  You will put up your existing equipment or the new equipment you want to purchase as collateral.  Amounts are available up to $10 million with terms ranging up to 60 months. You will  need a credit score of at least 550. 

Why would you choose this over a 0 interest business credit card if you could pay it off during the 0 interest period?  Well, the short answer is, you wouldn’t.  That is, unless you cannot get a high enough credit limit to cover the cost of the equipment. However, if you need longer than a year to pay it out, you may very well end up with a better rate going this route. 

It’s a complicated risk vs. benefit calculation that must be carefully considered. 

Real Estate Financing

Likewise, you probably will not be financing real estate with business credit cards, even if it is 0 interest. You can get real estate financing in amounts up to $10 million with terms from 6 to 60 months and interest rates as low as 6%.  You will need a 500 minimum credit score, and there are a few other requirements. 

Credit Line Hybrid

What if you could get the same super low or even 0% interest rates you can get in the early days of a business credit card, along with the same rotating credit, but with no documents required and no security necessary? That is exactly what you get with the credit line hybrid, and you can use the funds for anything. 

Not only that, but you can potentially get up to $150,000, and build business credit at the same time! That’s because this type of financing reports to the business credit bureaus, so your consistent, on-time payments help your business credit score grow. 

A credit line hybrid is not hard to qualify for.  Your credit score should be at least 680, and you can’t have any liens, judgments, bankruptcies or late payments.  Furthermore, in the past 6 months you should have less than 4 credit inquiries, and you should have less than a 45% balance on all business and personal credit cards.  It’s also preferred that you have established business credit as well as personal credit. 

0 interest business credit card Credit Suite3 - How to Get a 0 Interest Business Credit Card

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

More About the Credit Line Hybrid

Of course, you’re thinking “that sounds pretty hard to get.” However, if you do not meet all of the requirements, you can take on a credit partner that does mee them.  Many business owners work with a friend or relative to fund their business.  If a relative or a friend meets all of these requirements, they can partner with you to allow you to tap into their credit to access funding. 

Remember, it is your business credit that the payments are reported to.  Regardless of whether you qualify yourself or use a business partner, your business credit will still grow, and you can use this type of funding to finance any type of business need you have. 

Here is another bonus. This is a credit card stacking program, meaning that you are using multiple credit cards at once to create the credit line.  You really can’t do it yourself. You’ll need to work with a business credit expert. However, there is a natural competition created between the cards that increases the chances of extending low interest rates past the introductory period. 

A 0 Interest Credit Card Can Be a Great Tool If You Use it Right

A credit card with a 0% interest rate, even for a short time, can be a great tool to grow your business.  Use it to purchase discounted inventory or supplies in bulk, cover short-term expenses, or to pay off higher interest rate debt.  

However, you have to keep in mind that the best rates won’t last forever.  Use it while you can, but have a backup plan.  Also, be certain you use it for the right purposes.  If you want to buy a large piece of equipment or real estate, something that will take longer than a year to pay, you may want to consider a different type of financing. 

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