These days your credit score can be an important factor in getting you finance, loans and tenancy agreements on rented accommodation as well as mortgages. It is estimated that in the UK that most people have a score that is below the average and with the current economic issues that we have had to deal with in the last two years you can see why many people’s credit scores have dropped with people losing their jobs and not being able to make repayments on bills, loans and mortgages, it all goes against your score.
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It all depends upon how your business is set up. If is is a sole proprietorship – and many first-time businesses are – then you will be liable for that credit card debt, even if it is on a business credit card if your obtained that credit card using your own social security number. If you have set your business up as a Limited Liability Corporation, or LLC, then you’re only obligated up to the amount of your investment in the company, with a few exceptions. Read the rest of this entry »
Nationwide has started charging customers who use its credit and debit cards outside of the UK. Customers are being charged 0.84% for every operation outside continental Europe.
Credit card use declining?
Jun 23
It was reported early 2009 that UK consumers were turning away from credit card spending in the heat of the economic downturn.