Credit Card

Often, this is the easiest loan to acquire. There is a reason. The interest rate on a credit card is generally the highest of any other kind of loan. Higher interest rates mean that the credit card company is willing to accept a greater risk, so people who did not qualify for other kinds of loans are may be able to get a credit card. There is also less hassle getting a credit card. Many companies allow you to apply over the internet or over the phone with minimal information. Of course, one piece of that information will be your social security number. Credit cards are always tied to an individual, so you will be personally guaranteeing the outstanding balance. A credit card offers many benefits that other kinds of loans do not have. Automatic insurance against damaged goods, airline credits, and annual cash rebates are just a few of the perks credit card companies give you. Many times this is the best option for entrepreneurs who are just starting out. Credit cards are accepted many places and most business owners don’t need to have a business history to be accepted.