According to the economic report released at the end of 2014 by the National Small Business Association, at least 60 percent of small business owners admit to being greatly impacted by the so-called “Great Recession” of 2008. Many of those small business owners also acknowledged using credit cards to finance their business needs.
In business, it’s often said that cash flow keeps the doors open. Businesses need cash, however they get it, to pay the bills. Once the cash flow stops, companies go bankrupt.
Many people use credit cards issued by their banks to improve their FICO scores, and others make use of advantages such as airline reward miles and cash back, but our customers often tell us that they’re confused by store credit cards. They ask, “What are they good for?” or “Why do I need one?”
For many people, the start of a new year is a reality check. You can certainly be forgiven for being reluctant to let go of the thrill and excitement of the holidays, but that excitement is no excuse to fall back into old, harmful financial habits.
