Pros and Cons of Business Credit Card Balance Transfer

Business credit card balance transfer is a helpful provision for those having a hard time paying up to their debts. But it can also be detrimental for their wallets because of little technicalities that banks put into it.

Banks have made a way to help its clients pay up to their debts in a faster and easier way.

The latest trend now for individuals with current standing debts from different credit card companies is that they can opt to transfer all of their credit card balance to another business credit card. This transaction is called business credit card balance transfer. As many viewed this as a viable way to be free from debts, some also see this as a way from credit card companies to gain profit and not necessarily helping their clients.


Lesser Payment Transactions – This is true for multiple-card holders. This means that once you transfer your balance to another credit card, you’ll only be minding now a single billing statement, unlike before that you had to handle each credit card balance differently because each has different payment and charging forms. With only one credit card responsibility, it is easier for you now to pay your balance according to one set of terms and conditions from the bank.

Stretched Paying Time – Banks have different policies in terms of the time span to pay up a debt. If you transfer your balance to another bank, you will have a new payment plan which means you’ll start up your paying time again. Thus, there is more time to save and pay. You’ll have a greater chance to pay your balance completely.

Convenient Interest Rates – Normally, you would transfer your balance to a credit card company that has low interest rates or no interest policies. In doing so, you can easily pay your balance without worrying for it to blow up again in just a short time even if you are paying regularly.


Tempting privileges – Banks’ promo on low interest rates or no interest payment at all attracts a lot of clients. And these clients, as they are able to pay up to most of their balance in such a short time, would procure another balance through using their credit card. Again, your balance will pile up without you even noticing it. You will be forever in debt if that’s always your case.

Expired promos – Credit card companies lure you into transferring your balance with them by providing you with tempting promos such as no interest on the first 3 months, and many more. But be reminded that promos like this also expire. You’ll just be surprised that your balance is growing again after some time. And you’ll never end paying for it.

Surcharges – Aside from your balance, you will also pay additional fees to the bank. The bank will get a certain percentage of your total balance and add it up to your responsibility. No wonder why your balance do not change after all payments you have done under no interest rate promos.

Violations – You must keep up with the deadline of the bank. If you miss paying your dues even for just a day, you will be charged with fines which will add up to your balance again.


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