Credit Cards: Pros and Cons
Sure, there are a lot of problems with credit cards, but there are a lot of good things attached to them as well. For instance, if you have a small business, fleet credit cards can keep your books in order when you issue them to drivers of company vehicles for gas and automobile repairs. On the other hand, it's very easy to abuse department store credit cards. And it's easy to have too many credit cards open at once.
Credit cards can be great for keeping your business in order; fleet credit cards are a tool you should use. With fleet credit cards, you can keep close watch on the expenses of your automotive fleet while building your company's credit rating by paying off the card regularly; and because the cards are of limited use, it's difficult for less-than-honest employees to abuse them. Company credit cards are also handy for keeping tabs on small expenditures, such as office supplies or luncheon meetings. But there's a dark side to credit cards. When you start to slide into credit trouble, it's often easier to get department store credit cards; and having too many department store credit cards can lead to missed payments and bad credit.
You don't have to keep a balance on credit cards for it to count against you in your credit rating; instead, having a large amount of money available to use for credit can harm your application for large loans. And having several credit cards available to you makes it easy to either use too many credit cards for too many things, or to use the wrong, higher-interest credit card for your purchases. Either of these bad choices can cost you money and points against your credit rating.
Instead of doing this to yourself, only keep the credit cards you actually plan to use. With small businesses, issue credit cards only to trusted employees, and check the statements yourself. With wise use and proper oversight, credit cards can be a real asset in your professional and your personal life.
Jeff Altmire is the author of this article. This article may be reproduced on websites subject to credit being given to the author, and a link to this website. If you would like more information go to http://www.best-credit-card-cards.com
MORE RESOURCES:
 Reuters | Washington Mutual stock down on credit concerns Reuters - Citing the thrift's financial statements for the period ending June 30, Gimme Credit analyst Kathleen Shanley wrote that "many creditors have quietly been ... WaMu Drops Second Day as Gimme Credit Cites Liquidity Concern UPDATE: WaMu's Stock Down As Investor Confidence Drains WaMu spokesman: no need to rely on outside funding sources |
FCStone Group increases size of credit facilities Forbes, NY - AP 07.24.08, 3:55 PM ET FCStone Group Inc., a commodity risk management firm, said Thursday it has reached deals to increase the size of its credit ... FCStone increases credit lines Kansas City Business Journal FCStone Group, Inc. Announces Syndicated Margin Call Credit ... |
Credit-card firms investigate fraud at Canadian airport kiosks Computerworld, MA - By Jaikumar Vijayan July 24, 2008 (Computerworld) Low-cost Canadian airline WestJet has temporarily stopped the practice of allowing customers to use credit ... Does using your credit card to check-in expose you to fraud? Expert says it's not surprising airport kiosks possibly targeted ... Credit card fraud at Pearson International Aiport has people worried |
New state law ties amount of tax credit with the level of ... Newsday, NY - The legislation caps redevelopment tax credits and increases incentives for the cleanup of affected areas. While the Brownfield Cleanup Program was created ... |
Cicero gas station reports attempt to disrupt credit card system Chicago Tribune, United States - An operator of a Cicero gas station called police Tuesday after finding that two men had climbed the roof of the business to cover up a credit card ... Rooftop gas theft scheme foiled |
 Sify | Unsolicited credit card is no more your headache Sify, India - Had a bad credit card experience? Help is at hand. On Thursday, the Reserve Bank of India cracked the whip on credit card issuers by setting out some ... Credit cards get RBI boost RBI warns banks on credit card interest charges Stop excessive credit card charges: RBI |
 Wall Street Journal Blogs | Extra! Extra! Credit Concerns at New York Times! Wall Street Journal Blogs, NY - The NYT front page does not include a story about its credit default swaps. (nytimes.com) Shares of New York Times Co. are down 4%, but the newspaper ... Extra, Extra: New York Times (NYT) About To Get Downgraded To "Junk" |
Executive says bank has more than enough capital to endure credit ... MarketWatch - The company has been one of the harder-hit banks during the credit storm, but analysts said it has effectively boosted its capital reserves to protect ... |
 India Infoline.com | Asian Stocks Fall on Credit Concern; National Australia Slumps Bloomberg - ``Investors are out there thinking everything's fine and another bank comes out and increases its provision for credit-related losses. ... Asian Stocks Fall Most in Six Weeks on Credit, Profit Concerns Asian Stocks Fall on Credit Concern; National Australia Slumps Asian Stocks Gain for Fourth Day on Easing Oil, Credit Concerns |
Credit cards Superprime slime Economist, UK - As the credit boom reached its peak, the firm’s credit-card business was growing by a dizzying 20% or more a year, with younger consumers with scant track ... |
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