Being stuck in credit card debt can be frustrating and the cause of considerable financial stress. There are proven strategies that can help you break free of being in perpetual debt that will save money and improve your credit score. These include always paying more than the minimum payment on...
To the editor:When readinghow high interest rates and credit card debt hurt people in our state, I think about how most people who are not part of the 1% rely on credit cards to help them live a better life, but interest rates went up on a lot of credit cards. I just don’t unde...
As tempting as it may sound, you do not want to use your business credit card to make personal purchases. At best, it will complicate your accounting — business expenses can be tax-deductible, but personal purchases usually are not. Furthermore, using a business card for personal reasons is...
Reduced interest rate: If you have a high-interest credit card, debt consolidation may lower your interest rate and help you save money. A lower interest rate means more of your monthly payment goes toward the principal balance, which helps you pay off debt faster. Tax-deductible interest: So...
while credit card interest was not. As a result of theTax Cuts and Jobs Act (TCJA)of 2017, the interest on home equity loans is deductible only if you use the loan to "buy, build, or substantially improve" the home that secures the loan. That provision is slated to remain in...
As tempting as it may sound, you do not want to use your business credit card to make personal purchases. At best, it will complicate your accounting — business expenses can be tax-deductible, but personal purchases usually are not. Furthermore, using a business card for personal reasons is...
1. Easy to get into further debt: With an easier load to bear and more money left over at the end of the month, it might be easy to start using your credit cards again or continuing spending habits that got you into such credit card debt in the first place. ...
The Wells Fargo Reflect® Card is hard to beat if you want to pay less interest and pay down credit card debt faster. Rewards None Welcome bonus None Annual fee $0 Notable perks This card's intro 0% APR offer applies to purchases as well as balance transfers. So for the first 21 mon...
Fees and interest that may be tax deductible. May impact your personal credit. A more expensive lending option compared to business loans or lines of credit. Is a business credit card right for me? A business credit card may benefit any merchant or entrepreneur who wants a credit card with...
Interest paid on business credit cards transactions is tax deductible, much like the interest paid on a business loan. Frequently asked questions about business credit cards What is the best credit card for startups or new businesses? How can I start my business credit? What are alternatives...