Many small business owners use zero-percent interest offers to get their businesses off the ground. While it can be a reasonable solution to starting a business for individuals who don’t have access to the necessary capital available; you definitely want to be careful that you don’t get in over your head. Credit cards make it easy to spend more than you can afford if you are not disciplined. Here are some tips for using a credit card to start a business:
- Avoid spending more than you can reasonably afford to pay each month based on your current income level - just in case your business doesn’t turn a profit or generate cash flow as quickly as you plan.
- Look for zero-percent credit card offers that offer no interest for at least twelve months, followed by a low, fixed-interest rate.
- If using a credit card to fund your business start-up; be sure to use one that also offers a rewards program that you can benefit from (travel rewards, cash back programs, or discounted merchandise, etc).
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