So in a couple months we want to get the Ink Preffered. It's actually a great card for us because it waives foreign transaction fees which is 95% of our spend.
Usually how we do it is we pay off what we spend after 4 months.
Example: Spend 3k and pay Minimum for months 1-3 and Month 4 PIF or most occasionally carry to month 5 then PIF.
Our other 2 business cards are on 0% promos until the end of this year/start of next year so it's worked out good.
However, we really want this card 50% because of the card's benefits and 50% because of the sign up bonus. The only issue is there's no intro 0% apr period so if we carry the 5k balance to meet the spend requirement that's roughly $85 a month in interest charges. Over 5 months that's $425
I'm wondering if we can get the card meet the spend requirement then BT it (are there any business 0% BT's with no fees?) or to get a low APR small business loan to PIF at a lower interest rate.
What are your thoughts? And this isn't for right now it will likely be in August.
I think you can forget the balance transfer concept; business cards aren't like personal cards. The only one I know that has decent balance transfer offers is Capital One Spark, and there's no guarantee you'll get a balance transfer offer at any particular point in time. They offer it to you when they feel like offering it to you.
IMHO you should just forget about carrying balances on the Ink card.
Okay so what should I do then? Small business loan?
This card is exactly what we are looking for except it has no intro apr offer that's why I was thinking maybe a small business loan to pay it in full and pay down the balance at a lower apr (maybe 7%?) I don't really know haven't looked too much into them yet.
I think you should get the Ink card, but pay it in full.