If you are looking for a business credit card with an interest-free introductory period then look no further. These types of offers have become very popular over the past few years. When looking for your first card or if you currently have one, you may be wondering what offers you should consider for your business credit card. It is important to keep in mind that your company's financial situation will play a large part in the type of credit card you decide on. Therefore, it is imperative that you take some time to explore all your options before making a decision.
Some of the more popular cards on the market today include the introductory offers with 0 percent balance transfers to your new card. These types of offers can help you get your business off the ground and provide you with a nice introductory rate while you build a solid credit history. However, these cards often come with a high annual percentage rate as well.
If you do not need to pay interest on your business credit card then you may want to look at a balance transfer offer. A balance transfer is when you transfer your high rate credit card debt from one card to another card with a lower interest free introductory rate. You can save hundreds of dollars in interest by transferring your credit card debt between credit cards. If you are paying a substantial amount on your business credit card then the interest free period is definitely an attractive feature. However, there are many other factors that you will want to consider before signing up for a balance transfer credit card.
As you research all the different rate card offers to make sure you understand the terms of transfer fees, late payment penalties and grace periods. Also take note of the annual percentage rate. This rate can make a huge difference in your monthly payments. In most cases the higher the annual percentage rate, the lower your monthly payments will be. There are a few cards that can have a 0 percent balance transfer charge if you are lucky enough to qualify.
When you find a great card offer that you like it is time to start shopping around. Compare offers from a variety of card issuers. This will allow you to select the best deal for your business credit card. If you already have a business credit card, you will need to ensure that you pay off your balance every month. Make sure that you use your new card only for business-related purchases.
It is possible to get a balance transfer offer on a traditional credit card but the rates are usually a bit higher than they would be for a business card. If you do not have a business credit card, you may be able to get a card that has a low or no balance transfer fee. You may also be able to find a card with no annual fee and no balance transfer fee. These cards are ideal for those who travel and do not have a regular card to carry cash back and forth to their home.
If you choose to get a business credit card, you will want to pay off the balance every month. Choose a card with a low or no interest rate and a long grace period, so you can payoff your entire balance every six months or when you get paid. To make it easy to repay the balance transfer you should make your payments on time every month. Make sure that you budget your money so you do not spend . . . . . . more than you can afford. You also need to make sure that you are paying your bills on time. If you cannot pay your bills in full every month you will be damaging your credit rating.
Business credit cards are great for increasing your business profits. The key is to make sure that you do not end up paying too much interest because of the transfer fees. If you are careful and do your homework you should be able to find a great card that has a low or no interest rate. You should also check out other offers and choose one that has the longest terms and lowest fees. Shop around before making a decision so you don't end up with a high interest rate card and a low introductory card balance transfer offer that doesn't last.