 Business Financing With Credit Cards Is Feasible! |
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  Feb 16 2011, 04:25 AM
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#1
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 MoneyExchanger  Group: Members Posts: 270 Joined: 26-October 10 Member No.: 4,565 Country: 
UnknownFavorite e-Currencies: HI Amount of hours spent on MEF forums daily?: 0-1 Hour Reputation: 0 (none)  |
It is however imperative to understand than neither Master or Visa Credit Cards have been designed for this purpose and thus they don't provide a suitable solution for business financing on a long term basis. And though they can provide an acceptable replacement if no other choice is available they are only a temporary solution.
The use of credit cards for financing a business should be replaced as soon as possible for traditional financial options like loans or lines of credit or new financing programs like leasing arrangements. Once the company has started earning enough money to cover the costs of production and other expenses, credit card financing should cease immediately. -------------------- |
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Aug 9 2011, 12:28 PM
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#2
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Visitor  Group: Newbies Posts: 5 Joined: 9-August 11 Member No.: 5,174 Country:
UnknownFavorite e-Currencies: USD AUD Amount of hours spent on MEF forums daily?: 0-1 Hour Reputation: 0 (none) |
Business financing with credit cards is definitely possible, but I wouldn't say that it is feasible. I don't think it's a good idea to finance something long term with a credit card. The interest rates can definitely affect your credit, where credit relief may become necessary. I would go through a bank to finance something long term.
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Mar 1 2012, 08:30 AM
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#3
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Visitor Group: Newbies Posts: 9 Joined: 31-August 11 Member No.: 5,256 Country:
UnknownFavorite e-Currencies: paypal Amount of hours spent on MEF forums daily?: 0-1 Hour Reputation: 0 (none) |
Using a personal credit card for financing a start-up business means taking on a significant amount of risk. Yet you don’t have business credit yet, so you can’t qualify for a business credit card which gives you some protection. If you can’t get a bank loan, which is unlikely for a start-up, and you can’t get investor funding, what other choice do you have? It’s best to use your own personal savings or funding from family or friends if you can. If those sources aren’t available and you think you have a really hot idea for a start-up business, then you may have no choice but to turn to easy short term loans online or personal credit card financing. You're pretty much on your own when you're using credit cards--especially if they are personal rather than business credit cards. And that lack of impartial oversight could lead you down a one-way road to business failure.
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Oct 11 2012, 06:39 AM
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#4
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Jr. MoneyExchanger Group: Newbies Posts: 10 Joined: 11-October 12 Member No.: 6,424 Country:
UnknownFavorite e-Currencies: very nice Amount of hours spent on MEF forums daily?: 0-1 Hour Reputation: 0 (none) |
Finding the right solution to finance a business has always been a challenge for owners. Most are only aware of conventional products, such as business loans or lines of credit, that are offered by financial institutions.
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Dec 16 2012, 01:39 PM
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#5
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Jr. MoneyExchanger Group: Newbies Posts: 10 Joined: 16-December 12 Member No.: 6,641 Country: 
AustraliaFavorite e-Currencies: e-book Amount of hours spent on MEF forums daily?: 0-1 Hour Reputation: 0 (none) |
Business financing is an essential service that benefits both start up companies as well as established entities needing help. Small, as well as medium, as well as big companies can benefit from this service.
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Mar 5 2013, 07:11 AM
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#6
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Visitor Group: Newbies Posts: 5 Joined: 5-March 13 Member No.: 6,813 Country: 
United StatesFavorite e-Currencies: dollar Amount of hours spent on MEF forums daily?: 24 Hours (I'm crazy!) Reputation: 0 (none) |
Definitely yes, business financial is feasible with credit cards in this business economy. If you want to start up a new business and own a credit card, then you can get the credit loans on your credit cards for your business financing.
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