0% Interest Business Credit Card: A Smart Choice for Your Business
Are you tired of paying high interest rates on your business credit card? Do you want to free up more of your company's capital for growth and investment? A 0% interest business credit card may be just what you need.
What is a 0% Interest Business Credit Card?
A 0% interest business credit card is a type of credit card that offers a promotional 0% annual percentage rate (APR) for a certain period of time, usually ranging from 6 to 18 months. This means that during the promotional period, you won't be charged any interest on your purchases, allowing you to conserve your company's cash flow.
Benefits of a 0% Interest Business Credit Card
There are several benefits to using a 0% interest business credit card:
Increased Cash Flow
With a 0% interest rate, you can conserve your company's cash flow and allocate it towards more important areas of your business, such as growth, expansion, and investment.
Reduced Debt
By avoiding interest charges, you can pay off your debt more quickly and reduce the amount of debt your business carries.
Improved Credit Score
Making on-time payments on a 0% interest business credit card can help improve your business credit score, making it easier to obtain loans and credit in the future.
Flexibility and Convenience
A 0% interest business credit card provides flexibility and convenience, allowing you to make purchases and manage your business expenses with ease.
Features to Look for in a 0% Interest Business Credit Card
When shopping for a 0% interest business credit card, look for the following features:
Longer Promotional Period
A longer promotional period means more time to take advantage of the 0% interest rate.
Higher Credit Limit
A higher credit limit gives you more flexibility to make purchases and manage your business expenses.
Low or No Fees
Look for cards with low or no fees, such as annual fees, foreign transaction fees, and late payment fees.
Rewards and Benefits
Some 0% interest business credit cards offer rewards and benefits, such as cash back, travel points, or purchase protection.
Top 0% Interest Business Credit Cards
Here are some of the top 0% interest business credit cards:
Ink Business Cash Credit Card
- 0% APR for 12 months on purchases and balance transfers
- $0 annual fee
- 5% cash back on office supplies, internet, and phone services
Capital One Spark Cash for Business
- 0% APR for 12 months on purchases and balance transfers
- $0 annual fee for the first year, then $95
- 2% cash back on all purchases
Bank of America Business Advantage Platinum Plus Mastercard
- 0% APR for 7 months on purchases and balance transfers
- $0 annual fee
- 3x points on dining, gas, and office supplies
Conclusion
A 0% interest business credit card can be a valuable tool for your business, providing increased cash flow, reduced debt, and improved credit scores. When shopping for a 0% interest business credit card, look for features such as a longer promotional period, higher credit limit, low or no fees, and rewards and benefits. By choosing the right card for your business, you can take advantage of the many benefits that a 0% interest business credit card has to offer.
