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Credit Cards: Pros and Cons
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
MORE RESOURCES:
MORE COLLEGE CREDITChicago Sun-Times, United States - 10 hours agoDespite the current nationwide credit crunch, the State of Illinois secured $100 million for the student loans by tapping a new source -- credit unions. ... |
Credit - Google News
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