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

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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 discover yourself bumping up close to your credit card’s credit limitation because of extra charges and money flow issues due to the coronavirus, you might be able to request that your line be increased. Just since you get a credit line increase does not suggest you ought to then go and max out your credit card. Doing so can negatively affect your credit usage ratio– a figure that plays a function in your credit score. At this time, lots of credit card providers are focused on working with consumers affected economically by the coronavirus.

If you discover yourself bumping up close to your credit card’s credit limit since of extra charges and money flow problems due to the coronavirus, you might be able to demand that your line be increased. Simply due to the fact that you get a credit line boost doesn’t indicate you need to then max and go out your credit card. Doing so can adversely affect your credit utilization ratio– a fact that plays a role in your credit rating.

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