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 limit due to the fact that of extra charges and cash circulation issues due to the coronavirus, you may be able to demand that your line be increased. Just because you receive a credit line boost does not suggest you should then go and max out your credit card. Doing so can adversely impact your credit utilization ratio– a figure that plays a role in your credit score.

Just like any point in recent history, credit cards are and will continue to be a beneficial tool for companies– 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 additional charges and cash circulation issues due to the coronavirus, you may be able to demand that your line be increased. Just because you get a credit line increase does not imply you ought to then max and go out your credit card. Doing so can negatively impact your credit usage ratio– a statistic that plays a role in your credit rating. At this time, numerous credit card providers are focused on working with consumers affected economically by the coronavirus.

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