Additional capital from credit cards
Posted on January 20th, 2010
Every entrepreneur, especially the start-ups, at one time or another would looking for additional capitalization. One that they can easily when an opportunity arises. If you have filled up business credit card applications and got yourself approved, you got some valuable financing tool at your end which you can use for those emergencies.
But be weary, make sure that the opportunity that is presented to you is worth the interest that you will be incurring from using your credit card. And to be sure that you can maximize the credit card, use it only for those worthy opportunities that need immediate payment.
Afterwards, you can have the time look for cheaper source of funds elsewhere and pay the whole amount charge to your charge. That way, you will not be paying a single centavo for the interest.
Being an entrepreneur, one must always have a good eye on opportunities and the ability to decide quickly whether to grab such opportunity or not. Sometimes those opportunities would be coming when we have less cash on hand and the only way for us to grab is through our credit cards.
This is where decision-making falls in. If you think it’s worth it, then grab it, but make sure you do something to minimize your costs.
