Business Credit Card?
Question:
OPTION #1:
- 0% APR for balance transfer for 15 months
- 7.99 fixed APR thereafter
- 3% transacton fee
- 5% cash back or travel rewards
- no annual fees or limit on earnings
OPTION #2:
- 2.99% fixed APR for life
- 9.99% purchase rate
- 0% transaction fee
- 6% cash back or travel rewards
- no annual fees or limit on earnings
I plan on paying all my monthly bills on time and am mainly using the card to make purchases. Any suggestions?!
Answer:
You must understand that 2.99% rate for life only for balance transfer. Some company requires you to use the card during this promo. That means anything you buy at 9.99% will not be paid until the 2.99 % gets paid first.
Read their disclosure " We will allocate the payment to balances with the lower APRs before balances with higher APRs".
If you use the card often for your business (for purchases), To me option 1 is better. Also do you plan to pay it off within 15 months ?
You also have to ask yourself if travel is important to you.
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