Funding your business with credit (Part 3)

Filed in archive Bootstrapper Profile on May 27, 2007

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For example, in a 1998 article the magazine maintained funding with plastic was fine so long as the entrepreneur is careful to:

• Keep business and personal cards separate
Don't use your personal cards to pay for business expenses or you will put your personal credit at risk

• Resist the allure - don't get too many credit cards
Limiting yourself to one or two cards for your business makes tracking spending easier

• Know your credit history
Making sure your credit report is correct and up-to-date could make the difference not only in whether you get the card or not but at what rate.

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