How To Use (& How To Avoid Using) Business Credit During The Coronavirus Pandemic

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Just like any point in recent history, credit cards are and will continue to be a beneficial tool for organisations– even though we have the COVID-19 coronavirus looming over our heads. If you find yourself bumping up close to your credit card’s credit limit since of additional charges and cash flow problems due to the coronavirus, you might be able to demand that your line be increased. Simply because you get a credit line boost does not imply you ought to then go and max out your credit card. Doing so can adversely impact your credit utilization ratio– a fact that plays a role in your credit rating. At this time, lots of credit card companies are focused on working with customers affected economically by the coronavirus.

Use Mobile Apps

With social distancing recommended for the basic public, going into physical banks to discuss your charge card may not be the finest option. Although you may not be a high-risk candidate for the coronavirus, the illness can still spread asymptomatically, indicating that it remains in everyone’s best interests to restrict in-person contact as much as possible.

You’ll desire to take benefit of other tools offered by your card provider. While many issuers have client service offered over the phone, consumers have been experiencing longer-than-usual wait times– in some cases approximately three hours. With this in mind, managing your credit card account through an app or online might be your finest bet. A number of the major credit card providers use Android and iOS apps for account management:

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