Like many of you, I got the AMEX Blue + Business card last month because it had that 20K after $3K spend signup offer. What I didn’t really notice was that the card actually has a 0% APR on purchases for AN ENTIRE YEAR. I usually just skim over things like 0% APR mainly because I don’t like carrying over high balances these days. However, the other day, it dawned on me that because this is a BUSINESS CARD, meaning that the balance won’t appear on your credit report at all. So, it’d be stupid if you didn’t take advantage of this offer.
When I went over my CL a few weeks ago, I got the following email below. It does say that my ‘minimum due’ will be the amount I charged over my CL. So if my CL was $10K and let’s say I charged $10K, then my min payment would be something like $400 (I pulled that out of my ass.) Now if I had charged $15K, then my min payment would be $5,400. Now remember the 2X limit is up to the first $50K, so your free float is whatever your CL is. You can keep charging to hit the $50K, but you’d have to pay that ‘overage’ amount each month.
While I haven’t tested this out yet, if you have another business credit card like the Simply Cash or business SPG, if you transferred that CL over to the Blue +, then does that mean you get more free float? In theory, it should work. I tried to send some CL over from my SC yesterday, but after 30 seconds, it gave me an error. I think that was because you need to have the new card open for 60 days before you can transfer CL to it.
After realizing all this, I changed my autopay to only pay the minimum amount due. On your statement, it lists when your 0% APR ends, so also set a calendar reminder to make sure you have that lump sum to pay it off come next June 2018.