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Credit Card Facts

Using that plastic when business cash gets short? Spend carefully. Here are four facts you should know before you put that next purchase on a credit card.

1. There is no federal limit on the interest rate a credit card company can charge.

2. Card issuers can change the terms of your card agreement, including the interest rate, at any time, for any reason, with as little as 15 days notice.

3. There is no limit on the fee a credit card company can charge for late payments.

4. One late payment, even after years of on-time payments, can result in a significant drop in your credit score.

Alternative Hiring

Need help, but don’t want to hire a full-time employee? Try these alternatives.

• Personal assistant – for home-based business owners, a personal assistant can handle non-business chores and free up your time for business-related tasks

• Part-time employees – parents who want time with their kids and retired people who want some time for themselves make good part-time workers

• Virtual assistant – these folks handle everything from bookkeeping and proposal writing to appointment scheduling and follow-up letters; they generally charge by the hour and work from their own location, not yours

• Interns – students at the high school or college level make good part-time or seasonal employees

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