Frequent Contributor
Chris123nTx
Posts: 479
Registered: ‎05-11-2007
Re: CLI..... when should I ask ???
Bank of america has been agressivley closing accounts, slashing credit lines. If in six months you called them for a credit line increase, you are more likley to have bad things happen. The 10k you used to have on a secured card is irrelevant. You are juggling way too many credit lines trying to keep this business afloat, and sadly it may not have a happy ending.

Conserve cash, limit credit purchases for the company to the bare minimum needed to survive. Be realistic about the business. If it cant be kept open without maxing credit cards out multiple times a month, then it might be time to close it. A big majority of small companies fail. If it fails and you have all of your personal credit on the line, you will end up with nothing but a big pile of debt.

Good luck with it al. Not trying to judge. Just my opinion, but think really really hard about the business. Spend the money for a cpa to go through the books and advise you on how the company is really doing.