In business, it’s very common to have cash flow issues. Sometimes, you’re waiting on clients to pay your business for services rendered and other times, cash might be low, but inventory and assets are high. One technique you can use to lower your monthly overhead, hence increasing cash flow is to use a business credit card to do a balance transfer.
Let’s say you are carrying $20,000 in credit card debt.
- At 20.9% interest, your monthly payment is $550
- At 9.90% interest, your monthly payment is $366
That’s a potential savings of $184 per month or $2,208 per year!
Now where do you find business credit cards that have the best rates and possibly introductory rates that could save you hundreds? Take a look at our list of best business credit cards by clicking here.