Carrying a balance on Ink Cash 0% for 12mos

[sigep]

Hello all,  I am new to business credit and havent really been able to find exactly what I was looking for as far as an answer to my question goes.  I was wondering how it would impact my business credit score if I carried a balance and made the minimum payments on my Ink Cash card forawhile until some of my customers pay their invoices.  This card has 0% APR for 12 months.

I run a lawn business and some of my customers pay me up to 90 days out from the service date.  I "can" PIFl right now, but it would be much easier on me to pay as my customers satisfy their invoices.

Would making the minimum payment on time (instead of PIF) for the time being have any harmful effects on my business credit score?

Thanks,

Sig

[myjourney]

Welcome to the forum

I think you'll be ok but I would make at least a double mininum payment but thats just me.

They wouldn't offer a 0% if they didn't expect you to use it 

[peaceonearth]

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@sigep wrote:

Hello all,  I am new to business credit and havent really been able to find exactly what I was looking for as far as an answer to my question goes.  I was wondering how it would impact my business credit score if I carried a balance and made the minimum payments on my Ink Cash card forawhile until some of my customers pay their invoices.  This card has 0% APR for 12 months.

I run a lawn business and some of my customers pay me up to 90 days out from the service date.  I "can" PIFl right now, but it would be much easier on me to pay as my customers satisfy their invoices.

Would making the minimum payment on time (instead of PIF) for the time being have any harmful effects on my business credit score?

Thanks,

Sig

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In general, if you’re carrying a large balance it will effect; your Business Credit Score.

[shane82388]

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@peaceonearth wrote:

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@sigep wrote:

Hello all,  I am new to business credit and havent really been able to find exactly what I was looking for as far as an answer to my question goes.  I was wondering how it would impact my business credit score if I carried a balance and made the minimum payments on my Ink Cash card forawhile until some of my customers pay their invoices.  This card has 0% APR for 12 months.

I run a lawn business and some of my customers pay me up to 90 days out from the service date.  I "can" PIFl right now, but it would be much easier on me to pay as my customers satisfy their invoices.

Would making the minimum payment on time (instead of PIF) for the time being have any harmful effects on my business credit score?

Thanks,

Sig

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In general, if you’re carrying a large balance it will effect; your Business Credit Score.

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Who does Chase Ink business cards get reported to? I have one but never checked my business credit before because i dont know where to check it, lol.

[scenery_guy]

It reports to Experian business (if you are lucky) and perhaps others but that's not a big deal. Remember business cards are a bit different from personal cards. I always advocate PIF on all personal card or at least maintain a favorable amount of utilization so you always look good to future lenders. With business cards it really does not matter as it does not reflect on your personal reports. I'm sure it does reflect on the mysterious business reports but in the end some or much utilization is favorable with business credit cards. They want the cards used and taking advantage of 0% months is fine (especially if you pay it off before the end of the 0% period). 

I say do it and make the payments and then some so you don't wind up in a hole. And you should be building up some working capital so you don't need to rely on credit cards for this type financing. 

I need to point out the worst effect may be what Chase perceives from your actions. Are they favorable because you used the 0%? Who knows besides Chase internally. As long as you act responsible you will be fine, if not on a fast track for a CLI based on usage and payments. 

[Open123]

As standard practice, we have always carried the balance on 0% promos.  Matter of fact, my preference is to make minimum payments and a ballon one on the 12th, which affords me the opportunity to utilize the capital fully and for a longer time.