How to fund your company with 0% business credit cards

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How to fund your company with 0% business credit cards

Although quite possibly not the wisest move that you could make it is possible, as a last resort or with other funding, to start a company with business credit cards. One famous example of this - and an eye opener to those attempting a similar thing in their own field - is the movie director Kevin Smith. Kevin Smith famously funded his first movie, Clerks, with a number of cards that he applied for. Luckily Clerks went on to gross over $3 million worldwide and launched Kevin Smith's movie career. If you are confident in your ability to make money, or are prepared to take a calculated risk, then using 0% Business Credit Cards could be an option. The successful multi-billion dollar Internet company, Google, was initially funded by credit cards. The creative minds behind Google, Larry Page and Sergery Brin, are rumoured to have bought the vital computer hardware that went on to house the Google computer program, through business credit cards. One way that could work in the current climate is through the 0% on cash purchases available to many new card applicants. Larry and Sergery would have been able to purchase their hardware, set up their business and start trading without having to pay any interest on their purchases for a number of months. Of course, by the time it came to make repayments they were probably able to repay in full.

Kevin Smith, who was the writer and director of multi-million dollar cult hit Clerks, financed his film through creative business credit carding. He may have done this be transferring an existing balance onto a 0% balance transfer card and then taking out more cards to find some of the films $1 million budget. Similarly Robert Townsend found $40,000 of his film Hollywood Shuffle's $100,000 budget in this way. Once again, both of these films did phenomenally well at the box office considering their budget (Hollywood Shuffle made over $5,000,000) and both were able to pay off their credit card bills without any problem. One industry where credit cards have been used to fund projects quite a lot is the film industry. Robert Townsend, a talented filmmaker, has said that he helped finance his movie 'Hollywood Shuffle' in such a way. In fact $40,000 of the film's $100,000 budget was spread over ten credit cards. Luckily the film went on to take $5,228,617 is the US alone. Another filmmaker, Kevin Smith, financed his film Clerks in a similar way and this film went on to make over $3,000,000 worldwide at the box office. Yet another, actor Richard Hatch, financed his production of 'Battlestar Galactica: The Second Coming' through the ingenious use of business credit cards.

Of course, these examples are just a few of the many success stories amongst thousands of other less public failures. The point is that it is possible to use credit cards to fund a company start up - and profit from doing so. It is probably wise to seek expert financial advice before starting up any business, with or without credit cards. However, business credit cards are certainly a possibility. As mentioned there are many offers to choose from: 0% on balance transfers; 0% on cash purchases; and a multitude of perks. Every single credit card is different and, as any financial advisor would suggest, it is worth examining your own business needs and forecasts to identify the best card for you.

Details of all types of business credit cards can easily be found online and it is highly recommended, by those in the know, that you compare and contrast carefully. Often you can apply for these cards online as well if you wish. As with all credit cards, business or otherwise, it is a good idea of make plans as to how you are going to keep up with repayments and cover charges. However, if you plan carefully, and are a little clever about your spending, there is no reason why business credit cards can't be a great asset, and great funding opportunity, for your business ventures.

Article Source: Credit Card Bad Credit People

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Robin Green is a financial writer that writes for many popular websites. Read more about 0 percent business credit cards and business credit cards here.

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Although quite possibly not the wisest move that you could make it is possible, as a last resort or with other funding, to start a company with business credit cards. One famous example of this - and an eye opener to those attempting a similar thing in their own field - is the movie director Kevin Smith. Kevin Smith famously funded his first movie, Clerks, with a number of cards that he applied for. Luckily Clerks went on to gross over $3 million worldwide and launched Kevin Smith's movie career. If you are confident in your ability to make money, or are prepared to take a calculated risk, then using 0% Business Credit Cards could be an option. The successful multi-billion dollar Internet company, Google, was initially funded by credit cards. The creative minds behind Google, Larry Page and Sergery Brin, are rumoured to have bought the vital computer hardware that went on to house the Google computer program, through business credit cards. One way that could work in the current climate is through the 0% on cash purchases available to many new card applicants. Larry and Sergery would have been able to purchase their hardware, set up their business and start trading without having to pay any interest on their purchases for a number of months. Of course, by the time it came to make repayments they were probably able to repay in full. 
Kevin Smith, who was the writer and director of multi-million dollar cult hit Clerks, financed his film through creative business credit carding. He may have done this be transferring an existing balance onto a 0% balance transfer card and then taking out more cards to find some of the films $1 million budget. Similarly Robert Townsend found $40,000 of his film Hollywood Shuffle's $100,000 budget in this way. Once again, both of these films did phenomenally well at the box office considering their budget (Hollywood Shuffle made over $5,000,000) and both were able to pay off their credit card bills without any problem. One industry where credit cards have been used to fund projects quite a lot is the film industry. Robert Townsend, a talented filmmaker, has said that he helped finance his movie 'Hollywood Shuffle' in such a way. In fact $40,000 of the film's $100,000 budget was spread over ten credit cards. Luckily the film went on to take $5,228,617 is the US alone. Another filmmaker, Kevin Smith, financed his film Clerks in a similar way and this film went on to make over $3,000,000 worldwide at the box office. Yet another, actor Richard Hatch, financed his production of 'Battlestar Galactica: The Second Coming' through the ingenious use of business credit cards. 
Of course, these examples are just a few of the many success stories amongst thousands of other less public failures. The point is that it is possible to use credit cards to fund a company start up - and profit from doing so. It is probably wise to seek expert financial advice before starting up any business, with or without credit cards. However, business credit cards are certainly a possibility. As mentioned there are many offers to choose from: 0% on balance transfers; 0% on cash purchases; and a multitude of perks. Every single credit card is different and, as any financial advisor would suggest, it is worth examining your own business needs and forecasts to identify the best card for you. 
Details of all types of business credit cards can easily be found online and it is highly recommended, by those in the know, that you compare and contrast carefully. Often you can apply for these cards online as well if you wish. As with all credit cards, business or otherwise, it is a good idea of make plans as to how you are going to keep up with repayments and cover charges. However, if you plan carefully, and are a little clever about your spending, there is no reason why business credit cards can't be a great asset, and great funding opportunity, for your business ventures. Article Source: <a href="http://www.allbestarticles.com" target="_blank">Credit Card Bad Credit People</a> About the Author: Robin Green is a financial writer that writes for many popular websites. Read more about <a href="http://www.mbna.co.uk/business">0 percent business credit cards</a> and <a href="http://www.mbna.co.uk/business">business credit cards</a> here.