Reasons NOT to USE CREDIT CARDS when purchasing fixed assets such as office equipment!

Reason # 1: Credit Cards debts are UNSECURED and REVOLVING; therefore, it affects your personal credit score.

Reason # 2: Credit Card Agreements are one of the few finance agreements that actually have a stated in the fine print the bank may change the term of the agreement at their will anytime during the term.

Reason # 3: Under the recently passed law called Universal Default, many credit card companies can raise your interest rate if late payment is posted on your credit report by any of the other credit card lenders.  Under the same law, business credit cards aren't included so banks can raise rates above and beyond usury law.

Reason # 4: Same Law that recently passed, Credit Card Company can choose to have a higher minimum monthly payment, making it less affordable to some.

Reason # 5: Again using credit card affects the overall personal and business credit score. You don't want to show you are maxed out, from lender's stand point you are over-leveraged.

Reason # 6: Don't forget when taking cash from your credit card, there is usually a 3% Cash Advance Fee that you will be paying upfront.

Use your credit card smartly as it can damage your credit and will end up costing you more to borrow in the long run. What does low credit score will cost you and your business?

A low credit score on your bureaus will not only cost you higher interest on your next borrowing, it can also affect how much you pay for the following services as business might need.

*Auto Insurance

*Life Insurance

*Medical Insurance

*Disability Insurance

*Establishing new accounts for business trades

*Workers’ Comp

*Bonding

*Acquiring or Bidding for new Contract

And many more…

Call Liberty Capital for additional info on how we can help you with all your business capital needs.

email: customerservice@libertycapitalgroup.com or apply here. You can also call at 888-798-3976.