Such Credit Counseling Agencies Needs To Be Avoided

Category: Finance, Credit.

When you are tied up with debts, so much so that waking up every morning is a big burden, having a credit card debt settlement is just the relief you needed. Having a successful credit card debt settlement is like having a second chance and getting a new lease in life.

Credit card debt is one of the world s worst nightmares and sad to say millions have fallen prey to this culprit. Only then can you feel total relief from the stress that has been eating you alive for the past months. Nothing can equal the freedom you will feel when you have settled everything and the nagging phone calls, mails and bills will be a thing of the past. As soon as you are free of your debts, you can live a new and better life. The tension would be gone and you can breathe again. There are two ways to settle your debts.

That is what debt settlement can do for you. You can opt for credit card debt settlement all by yourself or you can consult a credit counseling company or any professional to help you out. Clearing everything by yourself would mean you have to do a research and study all the options available to you. It is up to you to find the best way that would suit you best and help you get out of debt quickly. You can check and compare offers from different card suppliers for balance transfers. If you choose the latter, that is to seek assistance from a credit counseling company, you should look for a reputable company that you can fully trust. You can also check options of availing for a short term loan from a bank or financial institution to pay off your credit on the card with the high APR.

You need to do a background check on the company, or you can get recommendations from friends and relatives who have tried the company s services. Do not believe such fantastic promises because no individual or company can do that. Hundreds of companies would be advertising to help you wipe out your debts and settle everything overnight. Unless of course if you win a lottery or sweepstakes. Just look around and you will find counseling companies that are genuine and willing to help you get over the whole ordeal until you have paid off every cent of your debts. Such credit counseling agencies needs to be avoided. These counseling companies may be charging you a little bit higher for their services but it will be worth it.

They are the experts in the field. What you pay them you can offset from what you will save when you follow their advice. They know all the tricks of the trade so it is important that you put your trust in them. Take extra care that you will not fall into the same trap again. The most important thing to remember is when you have reached your credit card debt settlement. Take care of your new lease in life and maintain your debt- free existence.

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This Would Be Your First Choice, Because Second Mortgage May Have Higher Rate Of Interest

Category: Finance, Credit.

If you are a homeowner and like other homeowners you have first mortgage loan on your home and giving adjusted monthly payments so that the debt will be covered or ended at the end of the terms which is generally for 25 to 30 years. Before going for second mortgage if you have some other best debt consolidation solutions like mortgage refinancing or refinance your first mortgage, which makes sense only is you are capable of finding it at lower interest rates.

But unfortunately if you are not able to repay the debt and suffering from enough debt burden and seeking an alternative to overcome your problems, then there is a possible solution for you of having Second Mortgage for debt consolidations. This would be your first choice, because second mortgage may have higher rate of interest. Compared to mortgage refinancing Second mortgage loan may have higher interest rates and are usually for shorter duration 15 years or less. With time if the value of your home increases, your interest in the property called" Equity" also increases and if you need additional loans for home improvement, children educations etc. you can go for second mortgage loans also called equity home loans which is given against the equity left in your home. If mortgage refinancing is not available to you, then definitely go for second mortgage which will be the better option for solving your debt problems. So before dealing with any type of loans or second mortgages you should make comparisons between all lenders and you can do it quite easily online and can apply for free quotes or advices. Before going for second mortgage loans you should consider following things: - Type of loan either fixed rate mortgage or variable rate mortgage. - Look at the loan cost- you have to consider other things than just interest rates, because longer repayment periods and minimum monthly installments may often results in more than enough loan cost and may affect your financial situation.

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One Of The More Shocking Areas Where A Low Credit Score Will You Cost You Is In The Area Of Employment

Category: Finance, Credit.

We all know a low credit score will make everything in the world of finance more expensive because of higher interest rates from lenders due to being considered a greater credit risk( i. e. higher interest rates on car, homes and credit cards) . For example.

While this may be considered common knowledge by some, it s truly devastating effects are understood by few. If you purchase a$ 200, 000 home on a 30 year fixed mortgage at 8% interest instead of 6% (because of your credit score) ; that 2% is going to end up costing you a total of$ 96, 9311 over the term of the loan. The part few people talk about is all the other areas in life where a low score will increase your cost of living on an annual basis. Now, think about how many" extra" years you ll have to work to pay off$ 96, 9311 because of an extra 2% in interest? For example. As many as 92% of the 100 largest personal automobile insurers use credit information to underwrite new business, according to a 2001 study by Conning& Co. , an insurance- research and asset- management firm. ) HOMEOWNERS INSURANCE.

In addition to paying more for a car, home and credit cards, a low credit score will most likely have you paying more for the following as well. ) AUTO INSURANCE. It s thought many insurance companies see a correlation between low credit scores and increased property insurance claims. Customers who are unable to pay their monthly insurance premium thereby pass along that increased cost to the insurance company whose stuck with the bill. resulting in a loss for the company. Therefore, a low score will result in higher rates. ) LIFE and HEALTH INSURANCE. Since customers who pay without lapse are more profitable it is felt by many that a low credit score now even affects a monthly life and/ or health insurance premium negatively. It s estimated as many as 42% of employers now do credit checks on applicants before hiring them( according to a 1998 survey by the Society for Human Resource Management) .

One of the more shocking areas where a low credit score will you cost you is in the area of employment. While many employers claim they only do it to" verify" information on your application( such as where you live and where you have worked etc. ) we can both assume they are taking the liberty to" have a peek" at how you handle your financial affairs as well. And that s all the more troubling in light of the increasing impact a bad credit report can have, director of PIRG, says Ed Mierzwinski s consumer program. "It s outrageous that the credit bureaus are claiming their scores are accurate enough to take people s lives and screw with them like this" . According to the Public Research Interest Group( PIRG) as many as 79% all credit reports contain errors- 25% of which are serious enough to cause the denial of credit( according to a 2004 report) .

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With Bad Credit Cards However, There Is No Introductory Rate

Category: Finance, Credit.

People who have run into some bad luck financially or who have a lot of outstanding debts can expect to have a hard time when it comes to getting a new credit card. There are credit cards known as bad credit credit cards that are now available to people who do not have a spotless credit history.

If previous unsecured loans have gone unpaid and incurred late charges or other fees, or if an individual has had to apply for debt relief in the form of counseling or loans, it is likely that a negative credit score will appear on any type of new credit card application. This type of credit card is appealing to those who have bad credit as it offers several options to avoid embarrassing incidents during the application process. Usually companies offering credit cards for people with bad credit are so sure that they can approve any applicant, that in many cases they offer a double cash back refund in case the application is turned down. The first enticement is that when applying for bad credit credit cards, people are generally not subjected to a credit check. That is, they pay the applicant double the processing fee. It is important to note that with this type of credit card, designed for people who have already hurt their credit, there are going to be a lot of fine print issues that must be gone over.

These companies, also offer cash, in many cases rebate for referrals to their program, which can help card holders pay off their debts. The card company recognizes that there is a certain risk in extending credit to individuals who have a history of not making their payments, thus there are more stringent requirements with these types of cards than there would be with a normal card. Usually, cardholders would have a time period after receiving their new card during which they would not have to pay interest rates. The first thing to realize is that there is usually no introductory period. With bad credit cards however, there is no introductory rate. There is also normally an annual fee for the usage of these cards. New cardholders can expect to pay higher that normal APR s immediately upon activation and usage.

Next, individual applicants must realize that bad credit credit cards begin charging interest on purchases the day the purchase is made. This interest is charged daily, in contrast to standard cards which calculate the interest on a cyclical billing period, which is usually monthly. There is usually no grace period. Sometimes there are also restrictions on applications for these cards according to the state of residence of the individual. Most cards will not approve applications for individuals with this type of history, which can lead to an obstacle that is difficult to overcome. Although there are some stricter measures that have to be observed with credit cards for people with bad credit, the fact remains that these are cards designed with people with a bad credit history in mind. Without a card, rebuilding credit is almost impossible.

Although some of the rates are higher than other cards, these types of credit cards will still allow individual users to rebuild their credit when using it.

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Credit Cards Are Safer To Carry Than Cash

Category: Finance, Credit.

If money is the root to all evil, say many financial experts, then credit cards are the demon s spawn. But the prophets of doom neglect the other side of the statistics that suggest things aren t as bad as they seem- particularly not where credit cards are concerned.

For evidence, they point to spiraling debt and the dire reports that the UK has become a nation of debtors who live by the principle of instant gratification. Credit cards are more than just a convenient way to pay for things. If, on the other hand, you allow the easy availability of credit to seduce you into overspending, you can find yourself deep in financial hot water. Dubbed your flexible friend in an early 1970s advert campaign, they ve more than proved that they are indeed flexible, and they are certainly friendly- if you pay attention to how you use them. When used responsibly, they can offer many benefits: - Protection in an emergency. Have to pay for a broken window?

Need emergency motor repairs? The roof spring a leak unexpectedly? Do your regular- or extraordinary- shopping without having to carry wads of cash with you. A credit card can cover unexpected, necessary expenses without having to be approved by a bank for a loan. - Cashless purchases and transactions. Credit cards are safer to carry than cash. If your cash is lost or stolen, you can just kiss it goodbye. - Convenience for purchases. If your credit cards are lost or stolen, the law places strict limits on how much you re liable for in terms of loss.

No need to stand in a queue for concert or movie tickets. Credit cards make it easy to purchase over the telephone, online or by mail. - Ease of record- keeping. Just pick up the telephone and place an order for them, and pay with your credit card. When you pay by credit card, you ve got a handy recollection of all your purchases when you receive your account statement. It s not all a bad thing. It s an easy way to track your spending, especially if you use a credit card for your day to day expenses. - Instant gratification. If you ve budgeted for it, credit cards are a good way to enjoy the fruits of your labor while you re paying for it.

Unfortunately, not all is sweetness and light in the world of the credit card. If you run into a chance to replace that old computer at an incredible price, you can take advantage of the savings with a credit card and pay it off over time. UK consumers have racked up over �56bn in debt- up from �14bn just ten years ago. And because of the way that interest builds on an unpaid balance, what started out as just a little indulgence can become a lifelong burden. For those who use cards to live beyond their means, those shiny bits of plastic can be a powerful temptation to spend what they can t repay. Experts offer the following bits of advice to help you avoid credit card debt: - Don t apply for any card you re offered.

For small purchases that you ll pay off when the account comes due, use a card that offers rewards- and remember to pay it off when the account comes due. Take the time to compare all the options at a UK comparison website, where you can lay out the benefits and terms of each option side by side and choose the one that s right for you. - Use the right credit card for the situation. For bigger purchases that you ll carry on your account balance, use a card with a low APR to keep your interest rates as low as possible. Be responsible in your spending, and you ll find that their evil side is one you never see. The most important thing to remember is that credit cards are a tool, and like any tool, can be used for better- or worse.

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Who Doesn T Want A Credit Card Merchant Account

Category: Finance, Credit.

Who doesn t want a credit card merchant account! A merchant account has been known to double or triple business profits in a relatively short amount of time, so only if your company is poised for growth should you consider this exciting opportunity.

This special service allows you to process credit card payments from your clients in a number of ways that can help to speedily grow your business. If you currently work with a bank that you trust with your business concerns, ask about the possibility of applying for a credit card merchant account. As long as you have established a solid business credit history, pay your bills in a timely manner, and aren t involved in questionable or unethical pursuits, your chances of being approved for a merchant account are good. Most companies are eager to welcome this type of business from customers they know and trust. Of course, your bank may not offer this type of account, or you may be able to find better terms with another lender, so don t feel as though you must apply for merchant services with your current lender. They can probably offer helpful tips on which lenders to court and which ones to avoid. Instead, ask around at trade shows, or civic business, conventions meetings to see what type of merchant account providers your competitors are using.

You also can check with local business listings for references on general lenders, some of which may offer merchant accounts. Getting a credit card merchant account is pretty easy. Or you can browse the Internet to bring up a list of links that will let you contact those that seem most compatible with your business interests. After locating potential lenders to work with, you should compare services and fees to make sure they will work with the business plan that you are using or one that you plan to set up. Then compare your budget with transactional fees, and application or, maintenance expenses gateway rates to find a lender that is affordable for your needs. Check your company s budget to find out how much you can afford to invest in credit card processing equipment and service options. When you have been approved for a credit card merchant account, you can start to accept credit card payments from your clients immediately, often with a couple of days.

For example, if most visit your store to shop, an onsite credit card processor that you can purchase for a few hundred dollars is the simplest and perhaps most effective way to start. All you need to do is select the type of processing equipment that best fits with your customers purchasing patterns. But if you deliver goods and services, a wireless unit might be the better choice. You can always start with one and add another later. Of course, if you do both, two units might be affordable, but you will need to check your budget. Start looking for a possible merchant card services provider to get approved for your credit card merchant account!

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Credit Cards Do Add A Bit Of Extra Punch To Your Life

Category: Finance, Credit.

Credit cards do add a bit of extra punch to your life. There are many that offer you low interest credit cards but they come along with a host of extra benefits and surprising offers.

Nowadays you can apply for zero interest credit cards and pay all your bills and expenses with the card and then pay back within the stipulated time frame and pay no interest too. Your credit card could actually save a lot of money for you. You can get to your nearest bank or any of the financial institutions that offer credit cards. Sounds amazing well, apply for a credit card and then reap the benefits and see how your credit card also saves money for you too. Give in your credit card application, read carefully what the credit card has to offer. You need to choose the right one for yourself. Different credit cards offer you different kinds of benefits and offers.

Most credit cards charge you a nominal annual fee but generally the offers and discounts they offer hugely overweigh the annual fees that you have to pay to keep the credit card active. There are a host of services that are offered by the credit cards. There are many low interest credit cards and they are very popular in all parts of the world. From exclusive lounges to airports and free car wash at the gas station while you fill your car up, credit card holders do really enjoy a host of free services just by making a credit card transaction. Well, is that not a saving for you? Imagine if you had to pay for the services, how much money it would have cost you.

Zero interest credit cards really ease up your expenses for you. Before you fill up your credit card application, do take time to find out about all the services and billing dates that the credit card has to offer. Buy something during Christmas and you can easily pay back the next month and no interest is charged, it is truly like borrowing money from a friend. Some of the credit cards also offer low interest credit and easy installments pay back. It is for you to decide which kind of credit card would be ideally beneficial for you. There are many that do not charge any fees and also offer you zero installment credit.

You can take the help of the customer service personnel of the credit card offering bank or financial institute to access your needs and suggest you the best credit card that would allow you a comfortable credit and at the same time extra benefits for you. Whatever suits your need a credit card would really add a pinch of security into your life. Fill in your credit card application today and feel the comfort of having a zero interest credit card or a low interest credit card. Start using credit cards right away and experience the fun of not having to carry cash and enjoy the free benefits and offers that come along with all credit cards.

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Credit Card Transfers Allow You To Move The Balance Of One Credit Card To Another

Category: Finance, Credit.

Credit card transfers allow you to move the balance of one credit card to another.

But you have to use them correctly to avoid digging yourself into a financial hole. By doing this, you can save money and help to pay down debt faster. You will see more benefits by making the move in specific situations, but not every situation will warrant the use of a credit card transfer. Using Them When Rates Are Lower. If you do qualify for this type of offer, you should consider ALL of the determining factors in how you can best utilize them to save money. One obvious time to consider using balance transfers credit cards is when the interest rate on your current lines of credit are higher than the ones you will pay on the new credit card.

This is particularly beneficial when the interest rate is an introductory 0 interest offer. It makes sense to consider this type of move for any situation in which rates are higher on your existing card balances. In some situations, lenders will offer six months or even more as an introductory 0 APR period in which balance transfers do not incur finance charges. Consolidating Balances. During this time, moving your balance will help you to pay it down faster and without any additional finance charges accruing all the while. Another reason to consider using balance transfers credit cards is when you need to consolidate several high interest card balances. Doing this will allow you to pay down your debt more aggressively each month without having to swim through the head wind of significant finance charges piling on your obligation.

If you have a larger credit line on the balance transfer credit card, consolidation of several lines of credit, assuming the interest rates are the same or lower on them, will undoubtedly help you save money, and in some cases, that savings can be significant. Having only one payment to make is nice too, helping to make monthly bill payment a much easier process. There are some situations in which credit card transfers may not be beneficial and even outright detrimental to your financial well- being. When Not To Use Them. For example, if you are working on paying down a big chunk of debt, it might seem counter intuitive to be opening yet another line of credit. Opening another credit line is not necessarily perilous, but making the mistake of not paying off the balance within the time frame of the introductory period can very well be.

But the thought of a 0 APR introductory rate for 6 months is just so tempting. Some card issuers will even retroactively charge you an exorbitant interest rate on the balance that you carried over the introductory period, if the balance is not paid down entirely. In those instances, accidentally missing a payment or not paying down the balance can be outrageously expensive. Most card issuers will merely charge you a higher APR on the remaining balance, but be absolutely sure that you know what the terms and conditions are for the balance" pay down" before applying. So, buyers beware! In many cases, the right credit card transfers can save you money and help you to simplify your life. When using any type of balance transfers credit cards, make the smart move for your situation.

With some excellent offers available currently from card issuers, it makes sense to work towards using these options especially when there is no fee or nominal fee charges for making transfers. Yet, each situation should be considered carefully and individually.

First, You Should Consider Actually Paying The Debt, If You Can And If You Actually Owe It

Category: Finance, Credit.

Debt collectors ringing your phone off the hook and sending intimidating letters can frazzle anyone's nerves. The Fair Debt Collection Practices Act sets guidelines for what debt collectors may or may not legally do when attempting to collect a debt.

But you have various forms of protection and many techniques available to deal with them. They can' t, for example, call before 8 a. m. You can simply refuse to take the call. Or after 9 p. m. , nor threaten to garnish wages in states in which it's illegal, or harass you with continual phone calls if you tell them to stop. [For the full text, see: http: //www. ftc. gov/ os/ statutes/ fdcpa/ fdcpact. htm# 801] As a consequence, you have several options. Most answering machines allow screening your call before picking up and if you have caller ID/ call blocking you may be able to filter the call out entirely. Of course, legal action of that kind can be expensive, so you may want to employ other techniques first.

If you choose to pick up, you can insist that you not be contacted any more, and the agency is legally obligated to stop calling- if you' ve sent a' cease and desist' letter. First, you should consider actually paying the debt, if you can and if you actually owe it. But, if you' re seriously short of funds, you can couple this with negotiating for a reduced rate. You took on the load, and the creditor is entitled to be paid. If you follow up on the commitment, the phone calls will stop. They will move on to others, once an agreement is in place. Bill collectors, despite their sometimes unpleasant attitude, are just performing a service for which they get paid.

Be sure you keep a diary of any calls made or accepted, and note any terms agreed to. You can tape the call if that's legal in your state. (Sometimes it requires notifying the other party that you are doing so. ) Few debt collectors will make any statement that's out of line if they know they' re being recorded. Note if you' ve insisted they stop calling you, especially if you' ve been called at work. That recording or diary can be especially important if you have negotiated a reduction in the debt. Naturally, since they get paid a percentage of what they collect, they' re going to try to keep the amount as close to the original as possible. Most debt collectors have the authority to accept substantially less than they' re asking for.

But they will accept less if you press. Part of the agreement should involve a commitment on the debt collector's part not to put any black marks( beyond what may already be there) onto your credit report. They know that 50% of$ 500 is better than% 100 of nothing. You should take that one step further and insist they report quickly any payments you do make and to adjust any amount owed. It's ok to send some money to demonstrate the sincerity of your commitment to the agreement. Get it in writing before you send anything more than a token good faith payment.

Send too much and they have little incentive to make the effort to comply with the terms binding them. Patience, realism and maintaining your calm during discussions will go a long way toward making an inherently unpleasant situation less stressful.

When Choosing For The Best Credit Card Offer, It Is Best To Look For One That Has A Low Or 0% APR And No Annual Fees

Category: Finance, Credit.

In today's age of high technology, the Internet has significantly changed the way we do things even how we apply for a credit card.

By using www. creditcardofferworld. com, you can get connected and apply online for a credit card from almost major bank and credit card company such as Bank of America, Discover Card, Chase, Visa and Mastercard. You can get connected online and click on a credible online credit card site such as www. creditcardofferworld. com where you can check out for yourself the available credit card offers and compare the various financial benefits and rewards that they provide. There are a lot of choices of credit card offers for you, from business cards to student credit cards to reward cards and instant approval cards and 0% APR cards. Each credit card offer has an accompanying information regarding introductory APR on balance transfers, credit line for card purchases, annual fees and whether a credit history is required. Clicking on www. creditcardofferworld. com can help you not only with your credit card application or in getting an instant credit card approval but more importantly by giving you the opportunity to compare various credit card offers by checking out their financial benefits and rewards as well as terms of use and conditions. It also provides information regarding financial rewards that goes with your credit card such as cashback bonus, discounts on purchases such as computers, gasoline rebates, car rentals, hotel accommodations and even airplane mileage that would increase the advantages that you get as you purchase for goods and services through your credit card.

In order to help you choose just the right credit card, www. creditcardofferworld. com has grouped credit card offers into five categories: business credit cards suited to the everyday businessman. When choosing for the best credit card offer, it is best to look for one that has a low or 0% APR and no annual fees. Student credit cards which are best for high school and college students. The 0% APR card and the instant approval card. Rewards cards which feature various reward and rebate programs as you use more your credit card. The great variety of credit card offers increases greater flexibility in your credit card use and is a good way to save money.

Getting to know how much additional charge that you need to pay aside from your credit card purchases will keep you from accumulating a huge credit card debt. On the other hand, when applying for a credit card, it is important to check the disclosures on the amount of interest rates after the promotional period, how it is computed, the amount of annual fees and late payment fees and the length of grace period. Be sure to also check out for information on balance transfers, cash advances and the expiration dates of the credit card offers. But still you have to wait for a few more weeks before you finally receive your new credit card in your mail. Once you have filled out the secure online application form, most credit card companies would approve your application within a period of few minutes. There are a lot of credit card offers on www. creditcardofferworld. com, not one credit card offer covers it all.

Choosing the credit card that meets your exact financial needs will always be yours to make.

But There Are Drawbacks To Small- Business Credit Card Usage As Well

Business credit cards are primarily allocated for business use only, and provide a simple track record of company expenses.

They are available with low APR, zero introductory interest rates, rewards, balance transfer options, like airline miles or cash back, and so forth. Business cards still have an application and approval process, still have an interest rate on spending, and still have an impact on credit scores. Business credit cards are similar to personal credit cards in how they are obtained, how they are used, and how they function, however business credit cards also offer unique business oriented benefits and usually offer high lines of credit. The truth of the matter is, business credit cards will help your business grow and there is no doubt about it. They also offer travel discounts on cars and hotels, and even restaurant, travel insurance savings. Business owners also understand that securing a business credit card early on in the life of the business, helps the business to build its credit track record. These cards have gradually become one of the most common forms of business credit that assists businesses meet their urgent requirements, even when there is a deficiency of cash.

And that the earlier a track record is established, the sooner the business will be able to carry the business credit card liabilities on its own. Businesses, both large and small, are no different from private consumers when it comes to the benefits of credit cards, and many businesses rely on the convenience and flexibility of these cards in order to aid the smooth running of their companies. Currently, business credit cards offering zero percent interest rates and reward rich features are advertised widely and these kinds of business cards are going to be more widely marketed to small business owners in upcoming months. Business credit cards frequently secure preferential exchange rates to the business traveler and business credit card distributers also arrange for worldwide emergency and travel assistance. Business credit cards are accepted almost everywhere, which is great for those who need equipment or supplies in a hurry. Business cards for businesses in general, and for small business in particular, have become increasingly popular as more and more businesses start to realize the benefits. Business credit cards are usually issued to corporate executives or business owners in order to more easily keep business expenses separate from personal charges.

Business credit card volume has grown considerably since 2000 and business cards can be issued to more than one individual. Business Credit Cards are excellent financial tools for all types of business. They are a great way to increase cash flow and solve cash flow problems. But there are drawbacks to small- business credit card usage as well. So if the business defaults on credit- card payments, a creditor can come after the person who signed the card for payment. A business credit card carries the same personal liability as a personal card.

Also, your small- business credit card will be noted on your personal credit reports and a few late payments may seriously damage your personal credit score, while a big debt increase by the business could make you look more overextended than you really are, regardless of the payment history. One other word of caution: because business credit cards are meant to be used by companies, they come with, not individuals fewer consumer protections than a personal credit card. Still, once your business, no matter what has built its own credit history, you should be able to remove your small- business credit card from your personal credit reports. From the above, you can see that the vote is in. And, if you do not have one for your business today, maybe you should consider getting one in the near future. Business credit cards are terrific financial tools for all kinds of businesses. Let's face it, financial tools that come with great features and benefits are a business necessity.