I want to start a business
My business abroad is booming abroad, now I am planning to have a branch here in Singapore. Most of my expenses are being used with my credit card, I am planning to start it by using my credit card. Is it okay for me to use it as a replacement for money or should I withdraw it and use it physicaly?
Most business persons usually use their personal account to finance a business. Credit cards are an expensive way to finance long-term debt, and should be used primarily for smaller costs that can be paid off quickly. So it is not advisable to use your credit card to finance you business. In addition to the costly nature of using your personal credit card for business purposes, there is an additional risk associated with this practice.