Developing a business by relying on a credit card, may never cross your mind. Although initially intended for various consumptive needs, credit cards can also be used to develop a business.
This of course must be done with careful consideration and planning so that the goal of developing a business can be achieved properly. In addition, understand the benefits and risks of using a credit card correctly first.
After all, the purpose of using this payment facility is for profit, right? The following are some of the advantages that can be obtained when using a credit card to develop a business:
The application process is quite easy
For most business people, the difficulty of accessing banking credit services is one of the obstacles in developing a business. You will need collateral and must meet various banking requirements, so credit disbursement is often difficult.
However, it is different when using a credit card, because this one banking product is fairly easy to obtain. You can apply for a credit card by going directly to the nearest bank branch and submitting it directly to customer service.
If you are busy and don’t have time during working hours, you can even apply for this credit card at the mall when the bank holds an exhibition there.
If a few years ago credit card transactions were still carried out by means of signing, now it is not. Various transactions made using this facility are safer.
Just like debit cards, credit card transactions have also been carried out with the application of a PIN. You only need to use the right PIN and of course, keep it confidential, so the use of credit cards will be safe from ignorant hands.
Ease of transacting
You can also enjoy the convenience of transacting when using a credit card. So, you can use this payment facility at various merchants spread across various stores. You can also make cash withdrawal transactions easily at ATM machines.
Not only offline shopping, but you can also use credit cards for various online transactions using internet services. All of this will make it easier for you to take advantage of this product to develop your business to the fullest.
A clear amount of interest
When talking about credit, credit interest is certainly one of the important points that you cannot ignore. Regarding the application of credit card interest, this is in accordance with BI regulations that were issued on January 6, 2012.
Referring to this regulation, the current credit card interest rate is a maximum of 2.95% per month. This is of course a small amount of interest when compared to various other loans outside banking.
When you use a credit card, you can enjoy interest-free services. This is certainly different from other loans which basically apply a fixed monthly interest. To know more about the business you can visit this site to treadmillsandellipticalmachines
All bills will not accrue interest if you always pay credit card bills on time. In addition, make sure to always pay the bill in full each month. This will prevent interest expenses from accruing in the following month.
Longer Interest-free Period
Not just a month, a credit card allows you to enjoy an interest-free period of up to 45 days. Make sure you understand and always remember the due date and billing date correctly.
Make a transaction after the print date, so that the bill will only be printed in the following month, and you have 15 days after the print date to make a payment.
Large Credit Limit
You can get a large credit card limit, especially if you use a credit card for a long time. Usually, the bank will increase the card limit gradually, especially for customers who use good credit cards. A large credit limit like this will allow you to develop your business even more maximally in the future.
Consider Well before Using
There is nothing wrong with using a credit card as capital to develop a business. However, a credit card is not a cash credit like a business loan, so you have to be able to use it properly.
Having the right considerations before using a credit card to develop a business, so that the business can be successful without financial problems in the future.