Before you choose a card, compare balance transfer fees and annual fees, and select a card with a long enough introductory period for you to pay off the balance. You might also look for a card with a reasonable regular interest rate. Be careful not to procrastinate on paying down debt, or worse yet, run up both your old and new credit limits, or you could end up deeper in debt.
- But you listed most – People’s Trust, Hime Trust and Capital One.
- To put it in perspective, let’s take a look at an example.
- 37 results found, based on transferring £1000 and paying £100 a month.
- The incentive to offer such a great deal is largely to gain new customers and debt from other banks, which is a lucrative proposition for MBNA.
- The Spark Cash Select also offer new members a one-time $200 cash bonus when you spend $3,000 within the first 3 months from account opening.
- ZDNet’s editorial team writes on behalf of you, our reader.
For example, you could schedule a go url regular incoming payment from a big client a few days before your credit card statement is due and use it to pay back your balance. The purchase rate is the interest rate applied to credit card purchases and only applies to unpaid balances at the end of the billing cycle. The cardholder gives the account information and amount to the credit card company to which they are transferring the balance and that company arranges the transfer of funds to pay off the account. If your business card account is eligible for an ExtendPay Plan, you’ll receive an email notification, or you’ll see ExtendPay Plan options in your account online. Only your company’s Authorized Officers can enroll in an ExtendPay Plan. If your company’s card program is set up with central billing, ExtendPay-eligible transactions can be selected by the AO when viewing the central billing account .
How Do You Compare Balance Transfer Credit Cards?
A low interest rate, even for a few months, allows you to direct all or most of your payments toward the principal, allowing you to quickly chop down your debt instead of slowly whittling it away. The Citi Custom Cash℠ Card is a simple-to-use cash back card that allows you to maximize rewards in your top spending category every month. For a card with no annual fee, its 0% APR intro offer on both balance transfers and purchases for 15 months (followed by 14.24% to 24.24% APR variable) makes for an especially attractive offer. This popular Citi card pairs a lengthy introductory APR with a decidedly consumer-friendly fee structure. They also pay no annual fee, no late fees and no penalty APR.
Earn Up To 5% Cash Back: Citi Custom Cash Card
I am worried about applying for more cards as I believe this will lower my credit score. As someone who has experience with MBNA’s 0% interest and varying transfer fees (1%, 2% and 3%), this is still an enormous bargain. I’ve also found that MBNA will continue extending great offers if you exceed your payback rate. I’ve set up a detailed schedule of payments I stick to that enable me to pay off the “loan” before the due date. This has meant MBNA making additional offers that are better than any other bank.
Capital One® Spark® Miles Select For Business
The extended introductory 0% APR period is icing on an already tasty cake. The Alliant Cashback Visa® Signature Credit Card offers an industry-leading 2.5% cash back on all purchases (up to $250 in cash back rewards per billing cycle). This is ideal for anyone looking for an easy-to-use cash-back card without the hassle of tracking bonus categories or activation. First we looked at cards that offered longer 0% intro periods. Many cards only offer 0% for six months, but six months can fly by when you’re running a business. We preferred 12 months, but made an exception for Bank of America because of its healthy cash back rewards system.
Scotiabank Value® Visa* Card
Credit card refund rules mean, purchases are protected by law – the Consumer Credit Act 1974 gives credit card protection on your purchases over £100. When we use the term ‘most popular’ on Uswitch in reference to credit cards, these cards are ranked by the number of clicks they have received on the site in the past 48 hours. Where you’ve had credit problems in the past you might be given a shorter introductory period than you see advertised which may not make the offer as attractive.
If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. But business balance transfer offers are somewhat rare, so we included some cards with application restrictions to ensure we presented a comprehensive list. These cards won’t be available to every business, but they might fit your needs. Don’t stop paying your old card until you’ve confirmed that the balance transfer is complete. If you were only able to transfer part of your debt, you’ll have payments to make on multiple cards now.