Top 5 Business Credit Card 0 APR Balance Transfer Options

Faith Stewart

December 23, 2021

Topics:

0% APR business credit card, business credit cards

Looking for a business credit card 0 APR balance transfer option? We put together a list of our top 5 picks to help you quickly and easily find the best option for your business.

What Are the Best Business Credit Card Balance Transfer Options?

It’s important to note that 0% balance transfers are often promotional or introductory, and may come with a transfer fee. 

Things change, and we work hard to keep this information up to date, but be sure to check with each of these business card balance transfer options specifically to ensure you have the most current information.  For now, here are our top picks.

#1 – Mechanics Bank Visa

The Mechanics Bank Visa Business Cash Preferred Card has no annual fee. The zero percent APR on balance transfers is for the first 6 billing cycles.  Then it increases to 18.49 to 27.49% based on your creditworthiness at the time of account opening. 

You can earn 3% cash back on eligible purchases at gas stations, office supply stores, restaurants, and more.

And earn 1% unlimited cash back on all other eligible net purchases.  Get $25 cash back awarded after your first purchase. Enjoy a $100 Annual software credit after 11 consecutive monthly software transactions.

There is a 3% balance transfer fee or $5, whichever is more.

Mechanics also offers a Visa Business Card. This one has a 0% introductory APR for the first 18 billing cycles. And after the intro APR, the rate is 16.49% to 25.49% based on your creditworthiness when you open your account. 

Much like with the Preferred this APR will vary with the market based on the Prime Rate.

Mechanics also offers a Business Real Rewards Card from Visa. This one has a 0% intro APR for the first 6 billing cycles. After that, 18.49% to 27.49%. Interest rates are based on your creditworthiness when you open your account. 

As above, this APR will vary with the market based on the Prime Federal Reserve Rate.

You will get 2,500 bonus rewards points awarded after your first purchase. A business owner can earn 1.5 points monthly for every $1 that they spend on eligible net purchases. This is equal to 1.5% cash back.

As a part of complying with the Anti-Money Laundering Law, every small business owner should expect to provide their Social Security number and at least one form of identification when they open their account with Mechanics Bank. 

Mechanics Bank is a member FDIC bank and an equal housing lender. This lender is based in California. They offer a bank Visa platinum if you qualify.

#2 – PNC Visa Business Credit Card

With a PNC Visa Business Credit Card, you get 0% APR on balance transfers for the first 13 billing cycles when the balance is transferred in the first 90 days.  And there is no annual fee for this balance transfer credit card.

Afterwards, a variable APR, currently 14.49% to 24.49%, based on creditworthiness, will apply. This APR will vary with the market based on the prime Federal Reserve rate.You can download transactions into Excel®, Quicken® or QuickBooks® or use .csv files.

Their balance transfer fee is either $5 or 3% of the amount of each balance transfer, whichever is greater.

This card allows a business owner to consolidate multiple billing dates from creditors by transferring the balances to this PNC credit card and scheduling one payment a month. 

An entrepreneur can fund short-term working capital and use the card’s competitive interest rate to minimize interest expense and maximize cash flow.

 You will need the following to apply:

• Company Tax ID
• Company annual revenue
• Your Social Security Number, monthly housing payment and gross annual income

Given that the bank is asking for your Social Security Number and personal income and mortgage information, it is highly likely that they will perform at least a soft pull on your personal credit.

You can use this credit card to monitor your employees’ spending and plan and budget for your future small business needs. 

And you can even set up your PNC credit card as overdraft protection for your PNC business checking account to help ensure that you have funding when needed.

In addition, there is more than one Visa credit card available from PNC. They also offer Visa cards for cash rewards (with a decent rewards rate), travel benefits, and points. But they do not seem to offer an American Express card or the like. 

#3 – Synovus Business Travel Rewards

This card boasts a 0% APR for the first 6 months and the same for purchases. There is no annual fee for one year. After that, this credit card costs $50 per year. This credit card issuer will issue up to 25 cards – for you and for employee cards.

You can set spending limits for each card. Also, there is no foreign transaction fee with this 0 APR credit card.

You can review your account information and transaction details, pay with online banking, and receive email alerts and eStatements through Synovus.com.

In fact, you can enjoy 0% APR for the first 6 months for purchases, balance transfers, and overdraft protection. Afterwards, the current variable APR is 13.74% – 25.74% (as of February 28, 2023), based on your creditworthiness and other factors. 

You can earn 5x points on up to $5,000 annually in net spend for travel purchases, including hotel, airlines, car rental, and vacation packages. 

Earn 3x points on up to $3,000 in net spend quarterly for purchases in a Dynamic Earn category of your choice. Dynamic Earn will default to gas purchases; you will need to proactively change it if you prefer a different category for this benefit.  

And you can earn 1x points on all eligible purchases, with no limit on the points you can earn. Rewards will never expire, and you may transfer or give your rewards to other Synovus credit cardholders.

Of each business credit card we reviewed, this one seems to be the best credit card for travel points and rewards. You get 20% more in rewards for travel redemptions. 

You can redeem points online or pay for your purchases with points. Their Pay Me Back option lets you select specific transactions to pay off with points. You can redeem points online or by phone, and you can book travel via Synovus.

 #4 – Busey Bank Platinum Card

This platinum card also has no annual fee. The 0% introductory APR on balance transfers and purchase lasts for the first 18 billing cycles. After that, the rate increases from 18.49% to 28.49%, based on creditworthiness at the time the account is opened.  

The balance transfer rate will vary with the market based on the Prime Federal Reserve Rate. Also, pay a 0% introductory APR for the first 18 billing cycles. After that, pay 18.49% to 28.49%. 

Interest rates are based on your creditworthiness when you open your account.

The balance transfer fee is either 3% of the amount of each transfer or $5 minimum, whichever is greater.

Busey Bank also has a balance transfer offer for an intro APR of 0% for balance transfers for its Everyday Rewards + Card, its Max Cash Preferred Card, and even for its College Real Rewards Card.

Applicants will have to provide Social Security Numbers and personal information to get these balance transfer credit cards.This is as a part of protecting against fraudulent applications and money laundering.

This business credit card provider also offers a Business Debit Mastercard. While this card is not good for balance transfers, it can be an option if a small business owner has trouble qualifying for a small business credit card with zero percent balance transfers.

With that card, your business can get discounts on Intuit QuickBooks, Microsoft 365, and Salesforce. Those credit cards also offer rental insurance and identity theft protection, and you get access to the ShopRunner program through it.

This can make it a good complement to any balance transfer cards with a zero balance transfer percentage. These benefits mainly come directly from the credit card company, MasterCard.

Busey Bank has branches and ATMs in Illinois, Missouri, Florida and Indiana, with a specialty in farming. Their headquarters are located in Champaign, Illinois. They also provide commercial lending and business checking and savings accounts.

#5 – Personal and Business Credit Cards from Citibank

For another 0% intro APR balance transfer choice, be sure to consider the Citi Simplicity Card. 

It offers an introductory rate of 0% for 12 months from date of account opening on purchases and for 21 months from date of first transfer for balance transfers completed within 4 months of account opening. 

Currently, after that, the variable APR for the Citi Simplicity Card will be 18.49% – 29.24%. Interest rates are based on your creditworthiness.

This is a substantial amount of time and should appeal to many business owners looking for a good rate for transferring an outstanding balance over to a new credit card. 

Except for one thing. It’s a personal credit card.

Another option is the Citi Diamond Preferred card. This card offers a 0% Intro APR for 12 months. After that, the variable APR will be 17.49% – 28.24%, based on your creditworthiness.

The Citi Double Cash Card is another option. This card offers a 0% Intro APR for 18 months on balance transfers only. Currently, after that the variable APR will be 18.49% – 28.49%. Interest rates are based on your creditworthiness.

But each of these options is a MasterCard personal credit card. 

For business, Citi offers a Visa credit card which ties in directly with Costco Cash Rewards. But it does not offer a break of any sort on balance transfers. You will also have to be a Costco member in order to qualify for this particular business credit card.

The only other actual business credit card which Citi has on offer is the CitiBusiness / AAdvantage Platinum Select Mastercard Credit Card. It’s a good Citi rewards card.

You can earn airline miles through it, but it does not offer a break on balance transfers, either. The interest rate currently is a 20.49% – 29.49% variable APR, based on your creditworthiness.

Also, this card has a $99 annual fee, although Citi at least waives that for the first year.

#6 – Chase Freedom Cards

Consider the Ink Business Preferred card from Chase. You can earn Chase Ultimate Rewards through it. 

Earn 100,000 bonus points after you spend $15,000 on purchases in the first 3 months after account opening. That’s $1,000 cash back or $1,250 toward travel rewards.

You can get triple points on advertising expenditures made with social media sites and search engines, shipping purchases; internet, cable and phone services; and travel.

Triple points are on the first $150,000 spent in combined purchases each account anniversary year.

However, this cash rewards credit card does not offer any sort of break on balance transfers. Pay a balance transfer rate of 20.49% to 25.49%, based on your creditworthiness. These APRs will vary with the market based on the Prime Rate.

You can also get employee cards.

For a better balance transfer rate, consider the Chase Freedom Unlimited card or the Chase Freedom Flex credit card. 

For both of these cards, enjoy a 0% intro APR for 15 months from account opening on purchases and balance transfers. However, after the intro period, you will pay a variable APR of 19.49%–28.24%.

Also, a balance transfer fee applies.  While you can earn and spend via Chase’s Ultimate Rewards program with both cards, neither of them is a card for business. Rather, they are both personal credit cards.

Another personal credit card from Chase, the Chase Slate Edge, also offers a 0% introductory annual percentage rate for 15 months from account opening on balance transfers and purchases. 

Once the intro period is over, you will pay the same interest rate on balances for this card as for the Chase Freedom Unlimited card and the Chase Freedom Flex credit card. 

These three personal credit cards do not have an annual fee. However, the Ink card for business does have a $95 annual fee.

How Business Credit Card Balance Transfer Options Can Help You Manage Your Business Finances

If you have a high interest balance, you can transfer that balance to a 0% interest rate card and save a lot of money. Not only that, but you can also pay the balance off more quickly.  There are a few things to remember about this however.

First, be aware that there is typically a balance transfer fee, and it can be steep.  If there is a 3% transfer fee and you transfer $5,000, you will actually have an initial balance of $5,150. 

That may not seem like a lot, but if you do not pay off the balance before the 0% APR ends, and you end up transferring the balance to yet another card, those fees can add up. Watch the dates and be aware of fees.

Another thing to consider is that many cards will not let you transfer a balance that meets your limit.  They will have a separate limit for balance transfers.  For example, if your credit limit is $2,000, your balance transfer limit may only be $1,800.

A zero percent APR balance transfer card can be a powerful business finance tool, but it must be wielded carefully.  If not, it can actually do more harm than good. For more info on business credit cards and other financing options for your business, contact us today.

How to Choose a Business Balance Transfer Card

Factor 1 – Fees and Interest Rates

Just like selecting any other credit card, take a good look at how much you will be paying. While a card may offer a decent introductory period with 0% on balance transfers, its balance transfer fee, other fees and rates might more than make up for that.

Always make sure to look at the annual fee, if any. And if the card has no annual fee, make sure that this is for more than just an introductory period. American Express, for example, tends to have an annual fee. 

Interest rates will most likely tie directly to your credit score, but you should still delve into the specifics. Also, is there a balance transfer fee? Any balance transfer fee might cancel out other savings possible with balance transfer credit cards. 

Factor 2 – Perks and Bonuses

Any perks and bonuses you get from rewards credit cards will be useless if you never actually use them. So, consider your habits and your small business’s needs.

If your business requires you to do a lot of local traveling, then multiple points per dollar spent on eligible purchases of gasoline can really help you. So can multiple points for dollars spent on balance transfer credit cards for service for your vehicle(s).

Hotel discounts will also be helpful if your local travel ever requires that you stay overnight somewhere or another. The same is true for any retailer where you can purchase luggage, and for restaurants.

If you have to travel farther, then consider the cost of TSA Precheck. Some credit cards will either cover its cost or reimburse you for a steep discount. For flying, consider cards which offer bonus miles, or a deep discount on buying air miles.

If your business keeps you at home, then look for multiple points per dollar spent on office supplies, furnishings, shipping, or necessary services such as long distance telephone calling.

With bonuses, check on how much you can get, and how fast—and how much—you have to spend in order to meet the threshold. Plus, what happens if you exceed the threshold for getting a bonus?

A bonus which is worth, say, $250, is not a great consolation prize if you have to spend $50,000 on new purchases within six months of account opening in order to get it. 

Getting into a ton of credit card debt has to be worth it—and even with a good intro APR, having to make a lot of new purchases and paying a balance transfer fee will make that debt even more burdensome.

You may do better with cash back credit cards, but the cash rewards might not be so great for a balance transfer card with a 0% intro APR.

Factor 3 – Minimum Credit Score and Other Qualifications

Can you qualify for the credit card, or are you close but not quite there? Or is it a pipe dream? Credit cards which demand excellent credit for a qualification will likely be out of reach if your credit score is 650 or worse, where it’s bad credit on your credit report.

Can you aspire to eventually getting such a credit card with a good intro APR offer? There’s no reason why not, but a better use of your time, with a far more immediate result, will be to shop around for a card where your chances of qualifying are a lot more realistic.

And, of course, work on improving your credit and getting out of debt—which is an admirable and helpful goal unto itself, and not just for getting a specific 0 interest APR offer.

Factor 4 – Customer Service

This one is somewhat optional. However, a credit card provider with an outstanding reputation for quickly removing disputed debt or replacing lost or stolen employee cards will only be helpful for you and your small business.

American Express has a very good reputation in this area, plus they offer a Blue Cash Preferred Card. Capital One, on the other hand, has a less stellar reputation. Check other providers like Navy Federal Credit Union, too.

Can you work with Capital One or any other provider if your credit card debt on new purchases gets out of control? 

Read any balance transfer offer closely. Pay particular attention to any balance transfer fee in the balance transfer offer, and how long the intro APR is good for. Don’t go into debt just because you’re dazzled by an APR offer.