Meredith Wood, Author at General Assembly Blog

Is Using a Credit Card to Finance Your Startup a Good Idea?



If you’ve recently taking the plunge and started your own business, and are currently searching for funding to grow your company, using a credit card has likely fallen somewhere on your list of potential options. After all, while you may be struggling to qualify for a bank loan, credit card companies are likely beating down your door with offers of financing.

It’s not uncommon for owners of registered businesses to receive multiple credit card solicitations every day. But could credit cards actually be an appropriate way to finance your business?

Depending on your circumstances, using credit cards for business funding can either be really dangerous or really useful. It’s important to weigh the pros and cons to be sure that you’re making the smartest decision for your business.

To get you started, here are nine situations where using a credit card to finance your startup may not be such a bad idea:

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