What was the total credit card liabilities for Best Brains as of December 31, 2023?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
| 6 ( | Other Current Liabilities | As at December 31, 2023 | As at December 31, 2022 |
|---|---|---|---|
| ( | Credit Card Liabilities | ||
| Credit Card at BOA4100 | 1,277.11 | 8,660.91 | |
| Credit Card at Chase | 36,525.47 | 48,735.96 | |
| Chase United | 29,956.61 | 434.79 | |
| Credit BCBS | 3,726.42 | 1,405.36 | |
| Citibank AAdvantage | 10,970.12 | 3,252.89 | |
| Total credit card Liabilities | 82,455.73 | 62,489.91 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the total credit card liabilities for Best Brains as of December 31, 2023, was $82,455.73. This figure represents the sum of several credit card accounts held at different financial institutions. These include credit card accounts at BOA4100, Chase, Chase United, Credit BCBS, and Citibank AAdvantage.
Specifically, the credit card liabilities break down as follows: Credit Card at BOA4100 had a liability of $1,277.11, Credit Card at Chase had $36,525.47, Chase United had $29,956.61, Credit BCBS had $3,726.42 and Citibank AAdvantage had $10,970.12.
Prospective franchisees should note that these liabilities reflect the company's use of credit cards for operational expenses and other obligations. Monitoring these liabilities and understanding how Best Brains manages its debt can provide insights into the financial health and stability of the company. Reviewing year-over-year changes, such as the decrease from $62,489.91 in 2022 to $82,455.73 in 2023, can also indicate trends in the company's financial management.