Hello all,
I have been lurking here for a while and finally have a question for the knowledgeable people of Somersoft
We run a small business and currently use a credit card as an "överdraft"
The card has a $16,000 limit and is usually paid out at the end of each month (except through our quiet time when it trully becomes an overdraft so we can eat )
I have been looking at a number of online calculators in regard to the purchase of an Investment Property and they have indicated that the Credit card may be a problem
Would I be better off getting a $10,000 overdraft from our business bank and reduce our CC down to $5000?
Thanks
I have been lurking here for a while and finally have a question for the knowledgeable people of Somersoft
We run a small business and currently use a credit card as an "överdraft"
The card has a $16,000 limit and is usually paid out at the end of each month (except through our quiet time when it trully becomes an overdraft so we can eat )
I have been looking at a number of online calculators in regard to the purchase of an Investment Property and they have indicated that the Credit card may be a problem
Would I be better off getting a $10,000 overdraft from our business bank and reduce our CC down to $5000?
Thanks