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Some business credit cards include a balance transfer offer that gives you a low or 0% p.a. promotional interest rate when you move debt from an existing account onto the new card. This can help you and your business save money on interest charges. It can also free up cash flow, reduce debt and even improve your credit score. This page will explain how it works, why you should consider a balance transfer credit card, and what to watch out for when comparing 0% balance transfer offers.
The importance of good cash flow management cannot be over-emphasised for a startup. The ability to manage multiple expenses and still remain liquid may take a while to master. However, a balance transfer business credit card can be a useful tool to help you manage existing debts without the burden of high interest.
A small business may find itself struggling to regulate cash flow for any number of reasons. Whether it be due to seasonal sales fluctuations, unexpected or emergency expenses, delayed receivables or even growth, a balance transfer credit card can help stabilise finances.
Keeping the following factors in mind can help you find a balance transfer option that suits your business needs.
A business credit card can be a helpful tool for managing your company’s finances, but there are some key details to consider when you want one that also offers a balance transfer. Be sure to compare all available options and make the necessary calculations before deciding which card is best suited to your needs.
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This card offers 0% interest on balance transfers for 36 months, a discounted $29 first year annual fee and platinum benefits including airport lounge passes and complimentary insurance covers.