Many business owners are unaware that they can take advantage of introductory 0% interest balance transfers to dramatically lower their costs. After all, we all know that business credit cards can be quite expensive. In fact, the average card offer is just under fifteen percent annual interest. This is on top of the finance charge, which can top thirty percent or more. Add in annual fees and other charges, and you'll end up with a huge bill.
But there is an alternative. Yes, you can save a bundle on interest payments by transferring your balance to an introductory offer credit card. There are many to choose from, but two in particular stand out. They have low or no interest and balance transfer bonuses of up to fifty percent off the interest charged on your account. You can literally pay off your debt and still save money each month!
One of these zero-interest cards is the Discover More card. The zero interest balance transfer offers are available for the credit card's introductory period only. Once the introductory period is over, though, you'll need to move your balance onto a standard credit card. This is to ensure that you don't keep your zero interest balance transfer card until the introductory period is over. Otherwise you'll find yourself in the same situation you were in before, paying full interest each month on the balance.
The second zero-interest card is the American Express credit card. While it has a zero-interest introductory period, the interest rate on this card is fairly high. Still, if you transfer your balance to an American Express card, you can get a lower interest rate. You'll need to pay a higher regular interest rate, though. So if you're going to take advantage of an American Express zero interest card, make sure you have enough of an interest savings to cover the extra annual fee and lower regular interest rate.
If you need to lower your monthly outgoings, but want a card with good interest rates, then check out the Balance transfer cards offered by banks and credit card companies such as HSBC, Experian and Trans Union. The balance transfer cards offer you a low fixed interest rate for a specified period of time, so you won't have to worry about juggling your existing credit card balances. Plus you can transfer your balance from one card to another.
If you own a business, your business credit card is an essential tool. You need to know how much money you need every month to run your business. To do this you can use your business credit card to make cash purchases, for instance. Or you can pay for business expenses with your business credit card. By keeping track of expenses with a business credit card, you'll be able to quickly calculate the amount of cash you need each month. This will help you determine whether to make any major purchases, or whether there are any short-term expenses you can live without.
A business credit card also lets you build up credit points that you can use later. If you use your business credit card to make a major purchase, then you can earn rewards points that you can redeem later. These rewards points can get you air tickets, hotel rooms and rental cars. Also, if you use your . . . . . . business credit card regularly to pay your bills, your credit card company may reward you with a lower interest rate. This can save you money in the long run, even if the interest rate is slightly higher than you would get with a personal credit card.
Businesses need to keep a close eye on their finances. Zero interest balance transfers and introductory offers can help them do just that. And while they are at it, they should also take advantage of any special offers the credit card companies are running. For example, some companies are running special trials that last for a week or two. During this time, you will be able to transfer your balances to an introductory rate card for a limited time. You will also have the opportunity to switch to a normal balance transfer card once the introductory period has ended.