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Top four reasons to avoid credit sales in your business
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[QUOTE="Jasz, post: 271759, member: 61772"] Credit sales are a great way to get new customers, but they're also a great way to create bad credit. Here are four reasons you should avoid credit sales in your business: They cost more than other forms of advertising. If you can't pay for it yourself, then you'll have to pay the bank or credit card company instead. That means you'll have less money left over to invest in the other parts of your business. You'll have bad debt on your books. If you buy something with a credit card and then fail to pay off that balance at the end of the month, then your credit report shows a charge for "credit sales." The effect on your score is negligible but not insignificant — about half a point lower than if it were unpaid invoice debt — so keep this in mind before making any purchases with your credit card! Your numbers will look worse than they need to be. Even if all that bad debt disappears when it's paid off (or paid off in full), if it's still showing on your credit report, then lenders are going to see it and think twice about lending more money to you down the line. They might even consider pulling their business from your site entirely if they perceive high risk. [/QUOTE]
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