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

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If you find yourself bumping up close to your credit card’s credit limit due to the fact that of extra charges and cash circulation problems due to the coronavirus, you might be able to demand that your line be increased. Just due to the fact that you get a credit line increase does not imply you need to then max and go out your credit card. Doing so can adversely affect your credit usage ratio– a figure that plays a function in your credit score.

Just like any point in current history, credit cards are and will continue to be a helpful tool for companies– 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 additional charges and cash flow problems due to the coronavirus, you might be able to request that your line be increased. Simply since you get a credit line boost does not imply you should then max and go out your credit card. Doing so can negatively impact your credit usage ratio– a fact that plays a function in your credit rating. At this time, many credit card issuers are focused on working with clients impacted economically by the coronavirus.

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