What Are the Risks of Using Credit Cards in Business?
While credit cards offer many benefits, there are also risks involved:
High-Interest Rates: Carrying a balance can lead to high interest charges, which can be costly for the business. Debt Accumulation: Without careful management, businesses can quickly accumulate debt. Credit Score Impact: Late payments and high credit utilization can negatively affect the business's credit score. Fraud Risk: Credit cards can be susceptible to fraud and unauthorized transactions.