05-14-2013 05:20 PM
Some things never change with Amex. Exactly the reason why i left them in the 90's, and swore i'd never apply for another one of their cards, and haven't! As a business owner of over 27 years, and the business being in my family for almost 65 years, they did the same to us. We deal directly with our local bank/credit union/business broker now. Sorry this happened to you, and you're right, it does hurt your pride. Amex has always left a sore spot in my mind.
05-15-2013 09:58 AM
In a nutshell, be prepared to pay a little interest in the future. Keep a wad of cash on hand to be liquid at any given moment. Interest is just another business expense that should be taken into account when pricing a job.
Business accounts are much different than personal. In your work, adjust for the seasonal fluctuations. They (creditors) already know this, and they want to be sure that you do, too. Proper management of cash makes them much more friendly (a.k.a., profitable).
"Float" some expenses for a while, carry a balance, & don't pay in full. This is usually advice I would not give, but this is a business we're talking about here, and business credit. In my experience, even though I had the cash to pay everything off, the more I owed, the more I got, creditwise. It's the flow that makes a difference to the creditors.
Good luck with everything!
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