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What are the Best Balance Transfer Cards for Building Credit?

When we talk about balance transfers, people may wonder why you would want to transfer the balance from one card to another.


There are several benefits to balance transfers and I’ll talk about some of the best balance transfer cards for both personal and business credit.


What are Balance Transfer Cards?


Before we talk about the types of balance transfer cards you should apply to, let’s explain what a balance transfer is.


Basically, a balance transfer is when you transfer the outstanding debt – or balance – on one card to another credit card.

What are balance transfer credit cards?

The reason most people do this is to save money due to high interest cards; guys, if you’re paying interest on a credit card, you should begin looking to transfer that balance.


Paying interest on a credit card is the biggest waste of money ever!


That’s one of the major benefits of transferring the balance of your card – ensuring that you’re getting one that has 0% interest, so you aren’t wasting money.


Best Balance Transfer Personal Credit Cards


Personal balance transfer cards can help to build up your personal account, so you gain the opportunity to get into using business credit cards.


As always, your personal credit standing is the best place to start when it comes to building credit and getting more access to credit.


If business cards are out of reach, try getting derogatory remarks removed from your credit file, remove late payments, etc.


This will help to get your personal credit in good standing.


Some of my favorite personal balance transfer cards are:


  • Chase Slate

  • 0% APR 15 months

  • No annual fee

  • No balance transfer if transfer made in first 60 days

  • Need good to excellent credit for approval (670+)


Applying for this card can only be done in branch locations, not online.


  • US Bank Visa Platinum

  • 0% APR for 20 months

  • No annual fee

  • 3% balance transfer fee

  • Need excellent credit 750+


  • Comerica Bank Visa Platinum

  • 0% APR for 20 months

  • No annual fee

  • 3% balance transfer fee

  • Need excellent credit 750+


Best Balance Transfer Business Credit Cards


For business balance transfers, as mentioned above, it’s best if you have a really good standing on your personal accounts.


We’ve mentioned why not only having a good credit score is helpful in this, but having a long standing personal account helps with your bank relationship.


Definitely use the opportunity to go for business credit cards if your personal credit is in a good position.


One of the benefits of getting a business credit card is that the utilization does not affect your personal credit score.


For example, if you transfer a large balance from one business credit card to another, it will not count against your personal credit card use.


Some of my favorite business balance transfer cards are:


  • American Express Blue Business Cash

  • 0% APR for 12 months

  • No annual fee

  • 3% balance transfer fee

  • Accumulates 2% cash back


  • American Express Blue Business Plus

  • 0% APR for 12 months

  • No annual fee

  • 3% balance transfer fee

  • Accumulate Amex MR points


  • US Bank Business Platinum

  • 0% APR for 20 months

  • No annual fee

  • 3% balance transfer fee

  • No rewards


Depending on your situation, you may want to go the business route when it comes to transferring balances, but if you can’t, then make sure your personal credit is good and go that route.


If you still need help getting out of paying credit card interest, check out our Credit Stacking community on Facebook.


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