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 helpful tool for services– 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 because of extra charges and cash circulation issues due to the coronavirus, you might be able to request that your line be increased. Just since you receive a credit line increase doesn’t suggest you ought to then max and go out your credit card. Doing so can negatively impact your credit utilization ratio– a fact that plays a function in your credit rating. At this time, many credit card issuers are focused on working with customers impacted economically by the coronavirus.

If you discover yourself bumping up close to your credit card’s credit limitation due to the fact that of additional charges and cash flow problems due to the coronavirus, you might be able to request that your line be increased. Just because you receive a credit line increase does not mean you ought to then max and go out your credit card. Doing so can adversely impact your credit usage ratio– a figure that plays a role in your credit score.

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