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Could you elaborate on this? If I started a business (LLC), I could open an AmEx card card under the business and have access to a 0% line of credit? That doesn
by MuffinFlavored 7y ago
Could you elaborate on this? If I started a business (LLC), I could open an AmEx card card under the business and have access to a 0% line of credit? That doesn't sound quite right. I'm surely missing something.
- xur17 7y agoYou can open business credit cards directly under your name, no LLC required.
- wefarrell 7y agoThe card is still under your name, the application will pull your credit report, and you're personally liable for the debt. However most major banks (with some exceptions) do not report business cards to the credit bureaus unless you're in default, so it's possible to carry large balances without any impact to your credit.
- MuffinFlavored 7y agoWhen is the statement balance due? Every 30 days? I don't see how this is 0% APR/any different than a consumer credit card?
- wefarrell 7y agoThe statement balance is never due but I always make sure to pay it off before the 0% APR ends. Each month a small minimum balance (around 1%) is due.