Corporate credit cards also may have rewards attached, which is a nice bonus on spending that your business would have done anyway. In addition, personal credit cards give you protection under Section 75 of the Consumer Credit Act 1974, for spending between £100 and £30,000. Sadly, this does not extend to company credit cards, although some cards may offer their own fraud protection scheme. Because of the lack of cover under Section 75, the latter is a more important benefit to look out for in business cards.
Add up your existing credit card debt, including the interest rates you’re being charged. 0% intro APR for 15 billing cycles on balance transfers posted within 45 days of account opening. Credit-Land.com is an independent, advertising-supported web site.
- Browse our top picks and find the best balance transfer credit card for you.
- Also, earn unlimited 1% cash back on all other purchases.
- 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service.
- Transferring your balance eliminates your current interest rate and can save you hundreds, or even thousands of dollars in interest payments over the duration of the zero percent balance transfer offer.
- On the other hand, a card like the MBNA True Line does have a 3.00% transfer fee, but no restrictions on how much you can transfer to the card and a 0.00% interest rate on transferred balances.
- The balance transfer fee typically ranges between 1% and 5%.
In addition, you can receive a 20% bonus on the points earned in each statement period that you make 20 or more transactions. Chase Bank serves nearly half of U.S. households with a broad range of products. Chase online lets you manage your Chase accounts, view statements, monitor activity, pay bills or transfer funds securely from one central place.
Why Is A Balance Transfer Useful?
Take out a low interest balance transfer card and transfer your higher interest 18% balances first. Call BMO and ask them to place your $5,000 of debt at a lower interest. Apply for the MBNA Platinum Plus card, which has a a1 mobile mechanic 0% BT rate for 12 months. You won’t be able to transfer your MBNA balances, from one MBNA card to another. But what you can do, which is unique to MBNA, is have them transfer money from your credit card at the 0% rate for 12 months, to your checking account. If you’ve got a $7,900 total balance, you’re ideally looking to get approved for a credit limit at least that high so you can transfer the entire thing in one go.
Ink Business Cash Credit Card: Best With Cash Back For Businesses
For instance, say you transfer $1,000 total from two different credit cards onto a new card that has a 3% balance transfer fee and a $5 minimum fee. To calculate your fee, you’d multiply 3% by $1,000 to get $30. NatWest’s no-fee balance transfer credit card offers 22 months interest free.
How To Avoid Paying Interest On Your Credit Card Balance
When it comes to debt, always look for the longer term solution. Get matched with the best cards for you in under 2 minutes at ratehub.ca. This is the most intriguing factor for many people drowning in debt. If you are being choked by a suffocating interest rate, an offer that allows you to pay 0% interest for a limited amount of time can be incredibly enticing. Always pay more attention to the interest rate you pay than to rewards rates.
Balance transfer fees apply, but there are no annual fees. Hi Kathy, having an excellent credit rating has no impact on that 80%. What it might impact is how much credit you’ll be issued.
Our website is completely free for you to use but we may receive a commission from some of the companies we link to on the site. See what cards are available to move some – or all – of that debt to. Our card finder tool will let you see which ones you’re likely to be accepted for. We may change APRs, fees and other account terms in the future based on your experience with Elan Financial Services and its affiliates, as provided under the Cardmember Agreement and applicable law.