Post a new topic
    4 Replies Latest reply on Apr 15, 2009 10:01 PM by wilfin

    Business Credit Cards

    sunrepro Newbie
      We've all seen it. Credit card companies increasing rates even if payments are made on time. This is true in our case also. We pay more than the minimum and always on time. Advanta at 37%! I would like to know where I can get information on consolidating a couple of credit cards into one "loan" with a lower monthly payment. We are holding our own during these trying economic times but are looking for a way to lower our monthly debt payments to help secure our future business. Thanks in advance.
        • Re: Business Credit Cards
          amspcs Ranger
          Google ' credit card transfer offers' or something like that on the net. Or, if you're like most people, just
          check your mailbox--you probably get dozens of cc transfer offers every week. Look for no interest or
          zero interest offers for as long a duration as you can. You'll pay a 3-4% transfer fee, but so what?...
          that's much much cheaper than what your present cc is charging now over a year. If you have a large balance, try to find a deal with a transfer cap amount, which can save you a few bucks. When one transfer deal expires, just find a new one. It takes a little work, but it can save you a bundle..the cc companies are counting on your being too lazy to go to the trouble. Nothing illegal or immoral about this...it's called 'money management'...you control your finances, not vise-versa.

           

          A couple of keys:
          1.) Read the fine print carefully.
          2.) Stop charging. The low transfer interest only applies to the transferred amount, not new charges.
          3.) Make sure you make all payments on time. Miss just one and the transfer rate is gone!
          4.) Pay these cards down as quicky as possible, don't go for those 'no payments for X months" deals.

          Hope this helps.
          AMSPCS
          Merchant Services Credit Card Acceptance Specialist
          www.MerchantServices-help.com
          amspcs@juno.com
          • Re: Business Credit Cards
            bmt2008 Adventurer
            Two things - most business credit card programs have been suspended - not likely to find many programs that remain. Second, no lender likes to hear the word consolidate - throws up a red flag. - Aslo, huge fees to transfer balances these days - either big fees or high interest on the amount transferred.

            How much are you looking to consolidate?

            There are many resources on our site that you can search for - no cost to you. There are business loans - which should be way under 37% - there are also credit card consolidation companies that you can find.

            Good luck - glad to see that you are thinking ahead and are concerned about cash flow.

            Business Money Today
            www.businessmoneytoday.com
            • Re: Business Credit Cards
              funds2924 Wayfarer
              How much in credit card debt you have. I may be able to help email me at funds@innovativereturns.com
              • Re: Business Credit Cards
                wilfin Adventurer
                Call me at (910)392-8740 or email me at chris.harper@wfginc.net. Thanks.