Sure, there are a lot of problems with credit cards, but there are a lot of good things attached to them as well. For instance, if you have a small business, fleet credit cards can keep your books in order when you issue them to drivers of company vehicles for gas and automobile repairs. On the other hand, it's very easy to abuse department store credit cards. And it's easy to have too many credit cards open at once.
Credit cards can be great for keeping your business in order; fleet credit cards are a tool you should use. With fleet credit cards, you can keep close watch on the expenses of your automotive fleet while building your company's credit rating by paying off the card regularly; and because the cards are of limited use, it's difficult for less-than-honest employees to abuse them. Company credit cards are also handy for keeping tabs on small expenditures, such as office supplies or luncheon meetings. But there's a dark side to credit cards. When you start to slide into credit trouble, it's often easier to get department store credit cards; and having too many department store credit cards can lead to missed payments and bad credit.
You don't have to keep a balance on credit cards for it to count against you in your credit rating; instead, having a large amount of money available to use for credit can harm your application for large loans. And having several credit cards available to you makes it easy to either use too many credit cards for too many things, or to use the wrong, higher-interest credit card for your purchases. Either of these bad choices can cost you money and points against your credit rating.
Instead of doing this to yourself, only keep the credit cards you actually plan to use. With small businesses, issue credit cards only to trusted employees, and check the statements yourself. With wise use and proper oversight, credit cards can be a real asset in your professional and your personal life.
Jeff Altmire is the author of this article. This article may be reproduced on websites subject to credit being given to the author, and a link to this website. If you would like more information go to http://www.best-credit-card-cards.com
article_text... Read More
article_text... Read More
article_text... Read More
article_text... Read More
article_text... Read More
article_text... Read More
article_text... Read More
Identity theft statistics are shocking... Read More
Until recently lawyers for victims of credit damage had little possibility to collect for damages beyond medical treatment, lost wages and property loss... Read More
In Less Than 30 Days... Read More
To repair your bad credit does not necessarily mean that you now have a good credit, absolutely not... Read More
As a consumer you've learned the importance of establishing a good credit rating with your lenders... Read More
If you opened a credit card statement recently and were pleasantly surprised to find that your minimum payment due was lowered, don't be so quick to "jump for joy"... Read More
You've just opened your credit card bill and attached to your statement you find a "convenience check" included... Read More