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Credit Cards are almost definitely going to have an interest rate much higher than 13%. How would that be better than a loan from Amazon? If you need to take
by andyakb 14y ago
Credit Cards are almost definitely going to have an interest rate much higher than 13%. How would that be better than a loan from Amazon? If you need to take months to arrange the line of credit, then I understand your argument, but Amazon seems to make the process pretty easy
- OldSchool 14y agoYeah, it's more about how easy it is to get the credit. Applying for a business credit line tends to be a relatively formal process and often requires a personal guarantee anyway so there's often no liability advantage for a business credit line, at least if you actually need one. In fact it may be worse if you eventually fail and you happen to be less broke than your partners since likely you'll have jointly taken on the guarantee. I think you could keep your interest costs down by playing the 0% balance transfer game and pay only transfer fees.