The Worst Experience with a Small Business Credit Card

by Brenda
(San Diego)

I have told many people about my experience with a small business credit card that was the worst situation I think any business owner could go through. When I originally opened the card, everything went peachy, and I was offered a decent rate of interest with a large balance.

They gave me the option to transfer the balance of my personal credit cards to my new business card for free. I thought it was the best offer ever because my personal credit cards were 5 percent higher on the interest rate so I figured I could save.

I was so wrong! Not only did transferring my personal balances cost me, but they raised my interest rate by 10 percent!! Needless to say, I was on the phone with them for days and could get nothing resolved because their customer service was so poor. I explained to them several times I was offered to transfer my person balances over for free.

They had the nerve to ask me if I had it in writing, but of course I didn't, I was told this over the phone. They said they never do free balance transfers and whoever told me that was mistaken. This obviously was not what I wanted to hear, nor did I feel it right that I suffered because someone did not know the policies.

I believed they should have waived the astronomical transfer fees, but they refused and the increase in interest was something about the balance transfer itself, they used a lot of jargon I did not understand and they could not explain.

I was livid because here I was out all this money and with a high interest rate. Now I am searching for a new card that will allow me to transfer my entire balance for free and seeking a lower interest rate.