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Balance transfer business credit cards

Looking to improve cash flow, save interest and consolidate debt? A balance transfer credit card could be just what your business needs.

A balance transfer business credit card with a low or 0% promotional interest rate can help your company save the funds you’ve been using to pay 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.

Four reasons your business might need a balance transfer

  1. Cash flow issues. If your business is struggling with liquidity, a balance transfer credit card can provide short-term relief by freeing up cash that would otherwise be spent on interest charges. This can help meet short-term or cyclical needs, until the business can create a sustainable positive cash flow.
  2. Startup expenses. If your business is relatively new, it might not generate sufficient income to meet your capital expenses or bills. Putting those expenses on a balance transfer business credit card allows you to pay either 0% or low interest on those expenses for a promotional period.
  3. Consolidate existing debts. If you struggle with several existing credit card interest repayments, you could transfer them all to a single account with a low or 0% interest, using a balance transfer offer. Not only will this make it easier to keep track of your debts, but it should allow you to repay your consolidated debt much faster than if the amounts owing are separated into different accounts that charge separate, higher interest rates.
  4. Improve credit score. Related to the above, you can help strengthen your credit score if you’re making timely repayments and can repay your debt with a balance transfer offer. Plus, your credit utilisation ratio also improves when you have a new credit card, as long as expenditure does not proportionately increase.

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What kind of businesses would most likely use a balance transfer?

  • Startups

The importance of good cash flow management cannot be overemphasised 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.

  • Small businesses

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.

What to consider when comparing balance transfers

As there are many competitive 0% balance transfer offers that could suit your business, here are some of the factors that can help you narrow down your comparison:

  • Length of offer. The length of a balance transfer promotion determines how long you will enjoy interest savings on your debt. Naturally, all else being equal, the longer the period the better. The benefits of a long balance transfer offer period might however be offset by a high purchase interest rate, which should then be factored into your comparison.
  • Promotional interest rate and revert rate. Most balance transfer credit cards offer a 0% promotional period, but some may offer a reduced interest rate rather than no interest. As well as the promotional period, you should also consider the revert rate that will apply to any remaining debts at the end of the introductory period. This is especially important if you don’t think you can repay your debt before the 0% offer ends, as it could present a risk of falling back into unmanageable territory as your balance collects interest again.
  • Balance transfer fee. Some cards charge a balance transfer fee of 2-3% of the amount you’re transferring when you move your debt to the new card. Be sure to factor in this fee when comparing your cards to ensure it doesn’t outweigh the value of your interest savings. Use finder’s balance transfer calculator at the top of the table to get an idea of how much you can save.
  • Other card fees. Also consider and compare other card fees including annual fees, late fees, international transaction fees and cash advance fees where applicable. If any of these outweigh the interest savings you’ll make from the 0% period, you should consider another card.
  • How much you can balance transfer
    The card may have a maximum balance transfer limit of a percentage of your credit limit. For example, you may only be able to transfer up to 90% of your approved credit limit. Make sure this limit is high enough to transfer your entire debt, otherwise any remaining amount will continue to collect interest in your existing account.

A balance transfer business credit card can be a helpful tool for managing your company’s finances, but there are some traps to watch out for. Be sure to compare all available options and make the necessary calculations before deciding which card is best suited to your needs.

Compare 0% balance transfer credit cards

Rates last updated April 26th, 2018
$
% p.a.

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Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
NAB Low Fee Platinum Card - Exclusive Offer
0% p.a. for 25 months
19.74% p.a.
$90 p.a.
Ends 6 May 2018.
finder Exclusive: Take advantage of 0% p.a. interest for 25 months on balance transfers with no balance transfer fee.
HSBC Platinum Credit Card
0% p.a. for 22 months with 2% balance transfer fee
19.99% p.a.
$129 p.a.
Offers a 0% p.a. for 22 months balance transfer and an annual fee refund each year when you spend $6,000. Plus, complimentary travel insurance.
Westpac Low Rate Card
0% p.a. for 24 months with 2% balance transfer fee
13.49% p.a.
$59 p.a.
Offers a 0% for 24 month balance transfer option, up to 55 days interest-free on purchases and a competitve 13.49% p.a. purchase interest rate.
Virgin Money Low Rate Credit Card
0% p.a. for 14 months
11.99% p.a.
$49 p.a.
Offers a discounted annual fee, $100 cashback when you meet the spend requirement and up to 14 months on balance transfers. Ends 30 June 2018.
St.George Vertigo Platinum - Online Offer
0% p.a. for 24 months
12.74% p.a.
$99 p.a.
Platinum card benefits including complimentary insurance, plus 0% p.a. for 24 months on balance transfers (with no BT fee). Ends 30 April 2018.
HSBC Low Rate Credit Card
0% p.a. for 20 months with 2% balance transfer fee
13.25% p.a.
$79 p.a.
A competitive offer from HSBC featuring a long term balance transfer deal and low ongoing interest rate on purchases.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 60,000 bonus Velocity Points in the first 3 months and enjoy a discounted annual fee of $64 for the first year. Ends 30 June 2018.
St.George Vertigo Visa
0% p.a. for 18 months with 1% balance transfer fee
13.74% p.a.
$55 p.a.
Enjoy a 0% p.a. for 18 months balance transfer offer. Plus, up to 55 days interest-free on purchases.
Citi Simplicity Card
0% p.a. for 15 months with 1.5% balance transfer fee
19.99% p.a.
$0 p.a.
Save with 5% cashback on eligible purchases (capped at $50 per month) for the first 90 days from approval. Plus, a 15 month balance transfer offer.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
0% p.a. on balance transfers for up to 18 months. $64 in the first year ($129 p.a. thereafter), plus, bonus Velocity Points. Ends 30 June 2018.
Citi Platinum Credit Card - 100k Bonus Points
0% p.a. for 15 months with 1% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Earn 100,000 reward Points, enjoy a long-term balance transfer offer, a discounted first year annual fee and complimentary travel insurance.
St.George Rainbow Vertigo Visa
0% p.a. for 18 months with 1% balance transfer fee
13.74% p.a.
$55 p.a.
Available until 26 September 2018, all the great low cost features of the Vertigo Visa with a rainbow design in support of the LGBT community.
Bank of Melbourne Vertigo Platinum
0% p.a. for 24 months with 1% balance transfer fee
12.74% p.a.
$99 p.a.
Offers a long-term balance transfer, low ongoing purchase rate, complimentary travel insurance and access to a 24/7 personal concierge service.
BankSA Vertigo Visa
0% p.a. for 18 months with 1% balance transfer fee
13.74% p.a.
$55 p.a.
Enjoy a 0% p.a. for 18 months balance transfer offer. Plus, up to 55 days interest-free on purchases.
Citi Rewards Platinum Credit Card
0% p.a. for 26 months with 2.5% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
A long-term balance transfer offer with a range of platinum rewards and benefits.
NAB Low Fee Card
0% p.a. for 18 months with 2% balance transfer fee
19.74% p.a.
$30 p.a.
Receive complimentary purchase protection insurance, a 18 month balance transfer offer and special offers from Visa Entertainment.

Compare up to 4 providers

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Credit Card Offers

Important Information*
NAB Low Fee Platinum Card - Exclusive Offer
NAB Low Fee Platinum Card - Exclusive Offer

Interest rate

19.74

Annual fee

90
HSBC Platinum Credit Card
HSBC Platinum Credit Card

Interest rate

19.99

Annual fee

129
Virgin Money Low Rate Credit Card
Virgin Money Low Rate Credit Card

Interest rate

11.99

Annual fee

49

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