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

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If you discover yourself bumping up close to your credit card’s credit limitation because of additional 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 receive a credit line boost doesn’t indicate you ought to then max and go out your credit card. Doing so can negatively affect your credit utilization 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 businesses– 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 limitation since of extra charges and money circulation issues due to the coronavirus, you might be able to request that your line be increased. Simply since you receive a credit line boost does not imply you should then go and max out your credit card. Doing so can adversely affect your credit usage ratio– a fact that plays a function in your credit rating. At this time, lots of credit card companies are focused on working with customers affected economically by the coronavirus.

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