I Need Funds For My Business – Should I Use Plastic Or Take Out A Small Business Loan?

Using business plastic carefully and consistently will put you on the path to a healthy score, which will be helpful for future borrowing. However, before you start swiping, be aware that there are drawbacks to using a business credit card. For instance: High interest Just like with a personal credit card, youll need to pay off purchases made with your business credit card as soon as the bill comes due. Otherwise, youll face steep interest charges. Few protections The CARD Act of 2009 put a lot of protections in place for personal credit card users. For example, banks must now provide 45 days notice before raising consumers interest rates. However, these safeguards dont apply to business credit cards banks can still arbitrarily change the cards terms if they want to.
For the original version including any supplementary images or video, visit http://www.nerdwallet.com/blog/small-business/small-business-loan-or-card/#.U7gBrteT69I.twitter

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All Rights Reserved. Disclaimer: The Small Business Loan Store is not a Certified Financial Advisor, U. S. Securities Dealer, Stock Broker or Investment Adviser.
For the original version including any supplementary images or video, visit http://smallbusinessloanstore.com

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