Seriously guys, I know becoming a successful entrepreneur requires taking some risks, but for Pete's sake, stay away from funding your aspirations with credit card debt. If it hits the fan, your credit rating could become ruined forever. Not to mention you could easily crater into bankruptcy, which is a predicament that not only has financial and legal implications, but social and emotional ones as well.
Fund your start up with equity, not debt. Either your own, or somebody else's.
Too many lives are ruined with credit card burdens...
I agree that you shouldn't put much if anything at all on credit cards. Ever.
But, even if you do run into trouble, a negative hit on your credit rating only lasts 7 years. Even bankruptcy falls off your credit rating after 7 years. It's just a lot harder to file for bankruptcy these days, because of the laws that the credit card companies pushed through congress. It's actually one of the reasons for the sub-prime mess were in, but that's another thread.
I have to agree with Parker. I appreciate there may be needs for credit, so this isn't directed at DocSavage specifically, but in general if you can't find equity and need to cash advance a credit card then either your idea won't sell or you can't sell it.
Neither of those is a good omen for an ROI above the 18.99% you might be fleeced!
Fund your start up with equity, not debt. Either your own, or somebody else's.
Too many lives are ruined with credit card burdens...