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Using Credit Cards To Finance
              Your Business


It can be quite difficult to find financing when you are trying to
start a business.  Traditional channels such as banks and other
financial institutions are normally not too eager to finance a new
business, even if you have developed a sound business plan and
are highly skilled in your market.  Starting a business, especially an
online business based from your home, can be difficult, and you
will need a way to obtain financing.  You may be considering using
your credit cards to finance your business.

While it is always better to avoid risking your own money when
starting a new business, there are many people who have
successfully financed a business with credit cards.  If you have a
sound business plan the ability to manage your finances wisely,
you may be able to use your credit card to finance a business
without risking your credit score and your financial future.  Just as
with all debts, it is important to pay as much of your balance as
possible each month and never make late payments.

There are advantages to using you credit card in financing a
business.  It is quick and easy and you will never have to wait for
approval or funds when you are ready to make a purchase.  
Another advantage is that you can make purchases instantly,
without having to write a check or supply vendors with check
payment forms, as is often a requirement for a new business.  It
would make the most sense to use only one of your credit cards
for business purposes.  You will be able to track purchases easily
and consolidate your monthly statement easily.

You should know your billing date.  You will be able to make
larger purchases just prior to your billing date and prevent
interest from accumulating for several weeks until you make your
payment.  Always try to pay off the majority of, if not all of your debt
each month. You will save a lot of money in interest charges by
paying as much as you can possibly afford each month.

Using your credit card will also protect you from losses if you
receive damaged goods or fail to receive merchandise you have
paid for. Depending on the type of credit card you choose to use
for your business, you can earn bonuses, frequent flyer miles, and
cash back.  You will need to monitor your spending carefully.  
Make certain you use the credit card with the lowest rate of
interest and you may be able to contact the credit card company
and ask about any possible rate reductions you can get.

Financing your new business with a credit card is not the ideal
situation, but for those who are having difficulty obtaining a
traditional loan or alternate type of financing, this could be a viable
option.  You do not want to risk losing your profits by accumulating
overwhelming amounts of debt on your credit card.  Keep a close
watch on your spending and pay most if not all your debt each
month.  With caution and a smart business plan you can finance
your new business with a credit card and instantly find the funding
you need. Depending on your credit situation and debt level, you
may be able to apply for a credit card in your company name,
separate from your personal finances.

Accumulating credit card debt is never the best option, but with
wise decisions and smart purchases you can finance your
business and avoid the frustration of trying to obtain outside
funding.  Starting a new business is an exciting time.  Make smart
financial decisions and your business can be profitable in a short
time.
CREDITCARDS - BUSINESS