Credit cards
206 words eaten alive on July 5, 2007 - Filed Under Business -
When you’re new in business, one of the hardest things is to get funding. My store may have been cheap to start due to the way things got going (see the About Us page up top) however shortly after that when it was time to expand and get into new things, money was difficult to come by.
Banks wouldn’t help because I was too new and didn’t have enough credit history built up. So as most people probably do, I turned to credit cards to get things moving. It was a good boost, we got lots of product on the shelves in a short time. The problem with credit cards however, is that if you don’t pay them off quick enough, the interest can get out of hand. Even though a lot of cards will offer you a low introductory rate, sometimes even 0% credit cards, keep in mind that these rates are normally only for the first 6 months.
To keep track of your situation, you can get a free credit report. This will show you how you’re doing overall, so if you’re planning something big like buying a house, you’ll know if you stand a chance of getting that mortgage.
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