topic Re: Best Business Credit Cards for Balance Transfers in Business Credit

Best Business Credit Cards for Balance Transfers

credit8502020 — Thu, 09 Feb 2023 19:55:40 GMT

Hi All!

I'm doing research on the best business credit cards for balance transfers. Of course cards that have 0% promotional APRs are great. However, I'm also interested in those that do not have balance transfer fees. The only business credit card that does not have balance transfer fees that I've found thus far is Edward Jones.

Any other strategies you can suggest as a great alternative to a balance transfer would be great as well.

Thank you!

Re: Best Business Credit Cards for Balance Transfers

Drifter73 — Thu, 09 Feb 2023 21:36:28 GMT

USB Business triple cash = 15mos 0%apy on BT

Note: Balance Transfer fee: 3% of each transfer amount, $5 minimum. (Not zero, but 3% is better than 5% and the 15mo 0%apy is better than 12mo.)

The USB Business Platnum is 18mo 0%apr, but also a 3% fee.

Re: Best Business Credit Cards for Balance Transfers

credit8502020 — Fri, 10 Feb 2023 02:07:30 GMT

@Drifter73 wrote:
USB Business triple cash = 15mos 0%apy on BT

Note: Balance Transfer fee: 3% of each transfer amount, $5 minimum. (Not zero, but 3% is better than 5% and the 15mo 0%apy is better than 12mo.)

The USB Business Platnum is 18mo 0%apr, but also a 3% fee.

@Drifter73 Thank you

Re: Best Business Credit Cards for Balance Transfers

Drifter73 — Sat, 11 Feb 2023 18:44:07 GMT

As for other strategies, there's x3.

The obvious is going the credit union business loan or bt route with a lower 2.5%apy or 0%apy promo

Then there is the off set way, where you simply stop using 1 biz card and start using a new biz card with 0%apy purchase and pivot all cash flow to the high balance card each month to avalanche pay it off while leveraging the new 0%apy card for current spend.

Then, one of my personal favorites, is a PayPal working capital loan that's based off your PayPal transaction history the last 6 months. It does not check credit and does not report to credit. It does require a business PayPal account with a minimum of 6 months transaction history to base the working capital loan off of.

I think my last one was $5k for 18mo. And 20% of each PayPal transaction to auto pay towards it. Had it paid off in 6 months and then the next working capital offer was for $8k, which I'll be paying off next month. The next offer should be $10k to $15k. They cap out at 25k.

It works for me since it doesn't report to anyone, ACH is generally processed by the next business day, and I can leverage it to pay off credit cards or loans fast for AZEO status to qualify for a better card or loan later.

To each their own.

Re: Best Business Credit Cards for Balance Transfers

credit8502020 — Fri, 10 Feb 2023 04:41:49 GMT

@Drifter73 wrote:
As for other strategies, there's x3.

The obvious is going the credit union business loan or bt route with a lower 2.5%apy or 0%apy promo

Then there is the off set way, where you simply stop using 1 biz card and start using a new biz card with 0%apy purchase and pivot all cash flow to the high balance card each month to avalanche pay it off while leveraging the new 0%apy card for current spend.

Then, one of my personal favorites, is a PayPay working capital loan that's based off your PayPal transaction history the last 6 months. It does not check credit and does not report to credit. It does require a business PayPal account with a minimum of 6 months transaction history to base the working capital loan off of.

I think my last one was $5k for 18mo. And 20% of each PayPal transaction to auto pay towards it. Had it paid off in 6 months and then the next working capital offer was for $8k, which I'll be paying off next month. The next offer should be $10k to $15k. They cap out at 25k.

It works for me since it doesn't report to anyone, ACH is generally processed by the next business day, and I can leverage it to pay off credit cards or loans fast for AZEO status to qualify for a better card or loan later.

To each their own.

@Drifter73 I appreciate you outlining some other strategies.

Re: Best Business Credit Cards for Balance Transfers

rgate88 — Mon, 13 Feb 2023 00:30:20 GMT

Look at cards issued through Elan, normally through random CU's. The business platnium card they issue has a 20 mo 0% APR BT

Re: Best Business Credit Cards for Balance Transfers

credit8502020 — Mon, 13 Feb 2023 19:38:26 GMT

@rgate88 wrote:
Look at cards issued through Elan, normally through random CU's. The business platnium card they issue has a 20 mo 0% APR BT

@rgate88 Thank you. I haven't see the 20 month 0% yet, but will keep looking. Although it appears that Elan cards still have balance transfer fees, it would definitely at least be nice to have 20 months instead of the shorter timeframes for many of the other 0% offers.

Re: Best Business Credit Cards for Balance Transfers

reluctantgarden — Thu, 16 Feb 2023 14:20:19 GMT

Some regional banks use Elan as well. In FLA and the Southeast, South State Bank has an Elan Business Visa with an 18-month zero-APR BT. Pretty sure it's not geofenced.

Re: Best Business Credit Cards for Balance Transfers

credit8502020 — Thu, 16 Feb 2023 17:39:43 GMT

@reluctantgarden wrote:
Some regional banks use Elan as well. In FLA and the Southeast, South State Bank has an Elan Business Visa with an 18-month zero-APR BT. Pretty sure it's not geofenced.

@reluctantgarden Thank you for mentioning this.

Re: Best Business Credit Cards for Balance Transfers

oracles — Mon, 05 Jun 2023 00:42:00 GMT

Are there any business cards that don't report to your personal credit report?

thanks

Re: Best Business Credit Cards for Balance Transfers

reluctantgarden — Tue, 06 Jun 2023 03:18:16 GMT

Only CapOne and Disco do, unless you have late payments, which all do report.

Re: Best Business Credit Cards for Balance Transfers

rgate88 — Sat, 10 Jun 2023 16:59:38 GMT

@oracles wrote:
Are there any business cards that don't report to your personal credit report?

thanks

Almost all of them don't report to your personal credit. I have 10+ business cards + LOC and none of them report. As long as you're not dumb with them (i.e. don't pay, default, etc.), they'll stay hidden.