Using Credit Cards For Home Business: Best Small Business Funds.

by J.Crawford on October 28, 2008

Credit Cards For Small Business or Home Business Entrepreneurs. Good or Evil???

Using a credit card to fund a small business has become a common practice. Using five or ten credit cards is common too. Being in $8,000 to $50,000 dollars in credit card debt is common too. Should you use credit cards for you home business or small business? Well, I guess the answer to that financial quesion is, Do you want to be common.

Credit Card to Fund Payroll.

Funding payroll with a credit card is great as an extreme emergency. The problem is in the principle. It’s not that using a credit card is a bad thing, its not, we know that. The point is, if your having payroll obligation difficulty it is a symptom of a deeper problem called cashflow management. Some of the best small business entrepreneur’s get into cash flow problems,  but correcting them with credit cards is dillusional.

Small Business Credit Card Offers.

Credit card offers for entrepreneurs looking to fund small business purchases are always available. No news here I’m sure. If you have a mail box, inbox or watch TV your getting Small business credit card offers every day. Incentives like 0% interest for up to a year. Free balance transfers, No Annual fees, and on and on. Listen, none of this matters to the person who is not in the market for a small business credit card.

Who Qualifies For a Credit Card Offer?

So who decides if your in the market. In other words, why do some people get small business credit card solicitations and others don’t. Its not like you asked for the best small business credit card offers to be sent to you, right? Demographics seem to matter little to credit card companies. I think it is safe to say they use the shotgun approach when it comes to determining the best candidates for credit card offer.

Should You Use Credit Cards to Fund a Home Business?

Well I think it depends. I don’t use credit cards. I got rid of my cards two years ago. I didn’t like the vigilance I needed to maintain in order to manage the debt. Besides I like to focus on making money. I don’t like bills and really don’t see many. I think this is important to home business entrepreneurs. Your thoughts are powerful and should be focused on making money, not paying off credit card debt. So my  vote is in with regard to credit cards for small business funding.

Debit Cards an Alternative to a Credit Card.

Debit cards make it convenient to make online purchases, rent cars, buy airplane tickets and reserve hotel rooms. Debit cards work just as good as credit cards and you don’t have to worry about a bill, ever. Oh, you don’t have to worry about interest either, ever. No annual fees….etc.


admin February 15, 2010 at 6:26 pm

Great Point from debt consolidation and you’ll need it if your fortunate enough to have an overeager mlm sponser or direct sales business opportunity mentor. We’ve all heard of “why wouldn’t you want to succeed?” “you have to fund your business”. I’m sticking with, credit cards are out when it comes to starting a home based business, especially if your new to the industry and if your trying to figure out how to fund an at home business start up with credit cards then your probably new, don’t fall for it. Small business funds are great but many small business startups, especially home business ideas can be started with a couple hundred buck. Save the money, start the business.

Unknown February 15, 2010 at 10:04 am

Using a number of credit cards to start up your business can be risky as there is more chance your credit rating could be damaged if you incur late payments on each card. It might easier to get a small business loan and with that get financial advice from the bank to make every penny count.
.-= advice on debt´s last blog ..How to Use Debt Consolidation Opportunities to Break Free from =-.

financing for small business January 20, 2010 at 11:42 pm

Thanks Roy, for your input.

admin November 11, 2009 at 7:41 am

Thanks for the Comment Roy, Using a debit card makes my life easier, I know that. I don’t have to worry about loosing cash and I seem to spend less when I pay with my card. It seems with credit cards I always forget about what I buy or subscribe to. Its pretty much a must to have some sort of a business credit card to operate my websites and online business. When I use my debit card I pay more attention and ask questions like, ” do I really want this coming off my card or out of my bank account EVERY month.

Thanks for the comment

Roy on Debit Card October 16, 2009 at 2:41 am

Yes, I have to agree. Debit cards asre just as good as credit cards. Sometimes even better

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