Business owners and credit card

[btstone]

Any of you business owners needing a business credit card today need to shoot me a PM. I work for suntrust and they are running a super deal on the interest rate. All you need is decent credit. let me know
thanks

[MachNU]

dam if i already did not have one I would talk to you. Curious what limit we talking and range of interest rate?

[btstone]

usually 1k-10k depending on credit and revenue. interest is 0% for first 6 months. usually around 8% after that

[NEMO]

Any of you business owners needing a business credit card today need to shoot me a PM. I work for suntrust and they are running a super deal on the interest rate. All you need is decent credit. let me know
thanksdave ramsey says not to use credit cards:cry: :goodjob:

[btstone]

dave ramsey says not to use credit cards:cry: :goodjob:

yeah, if you dont know how to use them, then they are not for you. Credit cards are great if used correctly

[NEMO]

yeah, if you dont know how to use them, then they are not for you. Credit cards are great if used correctlycash is better:goodjob: .... just sayin

[Evil Goat]

yeah, if you dont know how to use them, then they are not for you. Credit cards are great if used correctly


very true, never spend more on a credit card than you can pay off when the bill comes

[NEMO]

very true, never spend more on a credit card than you can pay off when the bill comeswhy not spend the cash when you know you have it:thinking: . save for what you want. makes life a lot easier

[btstone]

why not spend the cash when you know you have it:thinking: . save for what you want. makes life a lot easier

you apparently arent a homeowner or do you own a new car..no offense.

but saving is great....to an extent

if i save up 30k to buy a car, why would i spend all my liquid cash when someone will lend me the money:thinking:

[bowdown201]

Plus you wont get too far in life with no established credit

[NEMO]

you apparently arent a homeowner or do you own a new car..no offense.

but saving is great....to an extent

if i save up 30k to buy a car, why would i spend all my liquid cash when someone will lend me the money:thinking:sir i am a homeowner at 22 and i bought my house. should not own a new car until your able to buy one with cash.

not hating on people that have credit cards. i had them.

check out Dave Ramsey on the radio am 640 in the afternoon https://www.daveramsey.com/store/index.ep

[NEMO]

Plus you wont get too far in life with no established creditwhy do you need credit when you buy everything with cash?:thinking:

[Ronsam2006]

why do you need credit when you buy everything with cash?:thinking:
Because if you have a credit card, you can use the card, and put the cash you have somewhere to make interest and just pay the bill at the end of the month. I mean if you know how to work a card, its good.

[Lankhoss]

why not spend the cash when you know you have it:thinking: . save for what you want. makes life a lot easier

Negative. Trying to keep up with all that cash and change isn't as easy as having one piece of plastic with you all the time.

Also, most credit cards have rewards for using them. So if I spend $500 a month on my credit card....I could just tote the cash around with me all the time (which is likely to get lost or stolen) and at the end of the month pay $500. Or I could charge the $500 each month, pay it electronically when the bill comes, and receive reward points for $500 of the card useage every month.

I recently looked up my reward points on my credit card, and I could have gotten a Blu Ray DVD player, a golf club, and several other things. I ended up getting a couple $100 gift cards instead....and this is all on a card I pay off every single month (meaning it literally costs me $0 to use).

[TS240]

dave ramsey says not to use credit cards:cry: :goodjob:
Part of my job is selling people credit cards... Im so fucking tired of people saying that. lol

[NEMO]

Part of my job is selling people credit cards... Im so fucking tired of people saying that. lollol thats funny

[BABY J]

Whoever dies owing the most people the most money wins.

[NEMO]

Negative. Trying to keep up with all that cash and change isn't as easy as having one piece of plastic with you all the time.

Also, most credit cards have rewards for using them. So if I spend $500 a month on my credit card....I could just tote the cash around with me all the time (which is likely to get lost or stolen) and at the end of the month pay $500. Or I could charge the $500 each month, pay it electronically when the bill comes, and receive reward points for $500 of the card useage every month.

I recently looked up my reward points on my credit card, and I could have gotten a Blu Ray DVD player, a golf club, and several other things. I ended up getting a couple $100 gift cards instead....and this is all on a card I pay off every single month (meaning it literally costs me $0 to use).its called debit card lol :lmfao: :lmfao: :lmfao:

so if you have the money why not just use your money.

im not hating on credit cards. im just saying most people can not use a credit card and pay it off in that same month.

if everyone would just listen to one of dave ramseys shows or read his books you can understand how better your life is without debt.

[NEMO]

Whoever dies owing the most people the most money wins.or whoever can leave their family with the most debt with you die

[BABY J]

What family?

[Lankhoss]

its called debit card lol :lmfao: :lmfao: :lmfao:

so if you have the money why not just use your money.

im not hating on credit cards. im just saying most people can not use a credit card and pay it off in that same month.

if everyone would just listen to one of dave ramseys shows or read his books you can understand how better your life is without debt.

Did you read my post?

I don't have debt, I don't pay interest. I just use my credit card for things I WOULD pay with my checking account or cash, pay them off each month, and collect the rewards I get for using the credit card. And most of this shit can done electronically, which saves the time and hassle of writing checks and filling out envelopes, as well as eliminating the possibility of things getting lost in the mail.

Credit cards are awesome, but if you are bad with money then they can get you in trouble.

[NEMO]

Did you read my post?

I don't have debt, I don't pay interest. I just use my credit card for things I WOULD pay with my checking account or cash, pay them off each month, and collect the rewards I get for using the credit card. And most of this shit can done electronically, which saves the time and hassle of writing checks and filling out envelopes, as well as eliminating the possibility of things getting lost in the mail.

Credit cards are awesome, but if you are bad with money then they can get you in trouble.i read your post thats why i said most people cant pay them off

[Lankhoss]

Thing is, credit cards are completely awesome. In fact, some things you CAN'T buy without them (like a hotel room). They make online purchases (which typically save you money) much easier, without having to pay Paypal or Money Order fees.

But if they REASON you are buying a credit card is an effort to "fix" a financial problem or buy more than you have the cash to purchase, it will certainly f' your financial world up.

[btstone]

Nemo.. i understand where you are coming from. and i have alos heard ramsey talk....you have a lot to learn. ramsey has a ton of money and i know for a fact he uses credit cards. please odnt buy into his bullshit

[Evil Goat]

was it ramsey or clark howard that did the never spend a dollar bill thing?


either way, to be honest, i tried it for a year and saved a shit ton of money

either way credit cards are a must nowadays, being mindful of your spending is the problem, i know a few people that are 20-30K + in credit card debt, not to mention a house, two new cars, etc etc, sure they have nice shit, but they wonder how theyre going to put gas in their cars each week

[onebadgt]

usually 1k-10k depending on credit and revenue. interest is 0% for first 6 months. usually around 8% after that

alright bro, what do i need to get one of these. my cred, is GREAT and all that bs, what else will you need!

[sleepys4]

American Express Business gold and platinum is where its at. Don't listen to Bstone.

[Terror]

or whoever can leave their family with the most debt with you die


Man, alot of the things you say are very ignorant... working inside a major financial institution will teach you certain things..

1. Dave Ramsey is an idiot.

2. The "debt free life" is good for people that cannot control themselves only.

3. Credit, Credit Cards, Home Loans, HELOC, Car Loans are all very very great things... If you can manage yourself correctly.

Buying power is never a bad thing.

And.. YOUR FAMILY IS NOT RESPONSIBLE FOR ANOTHER FAMILY MEMBERS DEBT IF THEY DIE.

come the fuck on... seriously.

[Vteckidd]

As a business owner credit is a great thing to have. Businesses have to purchase inventory. Sometimes, you dont want to be cash strapped and burn all your capital on inventory. So you put it on a credit card with a low interest rate.

AS long as your inventory turn over rate is decent, usually you can make enough money to avoid the finance charges, or pay it off fast.

I routinely charge and use my credit card for my business. It helps keep me liquid so i have opportunities to invest in other assets or ideas.

[btstone]

American Express Business gold and platinum is where its at. Don't listen to Bstone.

preciate the help bro;)

[sleepys4]

I kid I kid

[btstone]

I kid I kid

bring that 996 turbo over to the house....i wanna chck it out

man i may just go buy one,,,lol

[Hunter02SS]

you apparently arent a homeowner or do you own a new car..no offense.

but saving is great....to an extent

if i save up 30k to buy a car, why would i spend all my liquid cash when someone will lend me the money:thinking:


The reason I would rather spend the cash if a person saved up enough money for a car rather than buying it on credit is you buy a 10,000 car on credit, at the end of the tern you would of possibly paid 12-13,000 including the interest for the car. On the other hand, if the person would of saved up the money in a interst bearing account then the money he was saving would be earning him money as well and when the person go's to withdraw the money out to purchase the car, he knows his money he has been saving has made him a little money, plus he knows he dosn't have a car payment and is not paying the extra interest on the car.

[btstone]

why would i spend my liquid money to buy something when someone would loan it to me. no one who owns a business would do that. you must stay as liquid as possible. buying power is the name of the game

[Lankhoss]

Eh, I don't like debt...I paid cash for all the crap I own.

[btstone]

i owe on my house and my vette. if i had spent all my money on those two items. there would be no money to fix the the s2ks expensive ass parts. or to go out and buy nice ass clothes. i think my decisions were wise

[Vteckidd]

theres nothing wrong with using credit. I mean if you are well off enough to be able to buy a $30,000-60000 car on cash alone, then you prob are smart enough to know how to use credit.

The problem is people make $20,000 a year and want to finance a $60,000 car.

[umairejaz]

General idea is a car should cost half of your annual income... at most.

[Vteckidd]

well and dont be stupid. I recently bought a $700 watch, now the place i bought it from, they said "if you sign up for our credit card and get approved you get 55% off".

I said sure. I got approved and i got the watch for $360ish with tax.

I got the card in the mail today and the APR is 19%. Needless to say, i paid it off today. Now i had cash to buy the watch anyway, but why not save the extra money. Now if i just paid the $25 minimum payment, that watch would end up costing me A LOT MORE.

Its like new cars, if you dont own your own house , i wouldnt buy a $30,000 car. If you dont live on your own, i wouldnt buy a $30,000 car. Be cognizant of the interest rate, and the over all payments.

With a business, theres no way i could operate without using credit. I spend $20,000 -$30,000 on inventory every 2-3 months. In the beginning i spent out of my pocket, and i ate ramen noodles until i moved some inventory and made some profit. Now, i can afford to charge that amount, and pay it off very quickly and not have to worry about finance charges or anything like that. My CC has a 4% APR. This gives me the freedom to be able to purchase more than 1 item , make multiple investments, etc rather than deplete my entire cash reserves

[Init2winit]

Any successful business owner, or most anyone that is a self made, will tell you the way to get ahead is with opm, other people's money.

[Hunter02SS]

In a business, yes use other peoples money as much as often. In your own personal finances, pay cash and stay away from high interest CC when possible. Even though you pay the credit card everymonth, you still pay interest on what you bought that month. Interest normally accumalates daily, not monthly.

[bowdown201]

Fuck it..just put some money away in a roth ira and bank. Unless your already like 40 then it wouldnt do ya too much

[SmackedInATL]

Fuck it..just put some money away in a roth ira and bank. Unless your already like 40 then it wouldnt do ya too much

Huh? LOL. Roth's are great if that is ONE of your means of saving for retirement, but if you save your money in a bank you'll never make anything off it. I earned 18% on my 401k last quarter since I have it allocated so aggressively. Young folks can afford to do that though.

[bowdown201]

No I wasnt saying save it in a bank but rather bank when your older from the interest you gain from the Roth account

[umairejaz]

In a business, yes use other peoples money as much as often. In your own personal finances, pay cash and stay away from high interest CC when possible. Even though you pay the credit card everymonth, you still pay interest on what you bought that month. Interest normally accumalates daily, not monthly.

Its interest free if you pay it off completely every month.

[btstone]

Huh? LOL. Roth's are great if that is ONE of your means of saving for retirement, but if you save your money in a bank you'll never make anything off it. I earned 18% on my 401k last quarter since I have it allocated so aggressively. Young folks can afford to do that though.

yeah, i had my 401k set up in some aggressive funds.......so far......more than half has dissappeared. but it will come back up

[UpSideDownDesi]

B that 0% is on personal for 6monthls. Business Credit card is 4.9% for the first 6months.

[Repiks]

was it ramsey or clark howard that did the never spend a dollar bill thing?

Clark Howard.


Dad did it this summer, it works out quite well.



Because if you have a credit card, you can use the card, and put the cash you have somewhere to make interest and just pay the bill at the end of the month. I mean if you know how to work a card, its good.


You're not going to be making that much interest in an account to overcome the cost of interest on a credit card. Especially in an account that you can take out money every month without a penalty.