Credit Scores, Credit Cards

How Consumer Credit Works: How to Avoid Mistakes and How to Manage It Well

By the end of 2003, consumer debt in the U.S. reached $2 trillion. By 2005, the average American may be carrying over $50,000 in consumer debt—and that doesn’t count mortgages or car loans. It’s unsecured debt related to consumer spending. This borrowing is expensive and is fundamentally changing the way Americans live.

Credit scores have become the golden keys to successful living. But what does it all mean? How do you know you’re managing your credit wisely? In a credit-based economy, your credit score means as much to you as money in the bank meant to your grandparents. This book explains, in plain English, how to make sure your credit history, financial data, account information and other essentials are strong...and safe.

Credit.com is pleased to make this information available in the format of this short chapter booklet. We hope it is useful in directing you to answers of your specific questions as well as providing valuable insights into other important issues relating to consumer credit. As you read through the information, we're certain you'll agree that good consumer credit is one of your most important assets for the protection of both you and your family. Come back and visit us often to learn more!

This text is based on copyrighted material originally produced by Silver Lake Publishing, 111 East Wishkah Street, Aberdeen, WA 98520. It is made available under license for the personal use of Credit.com customers. Any distribution or commercial use of this material without prior written permission of Credit.Com, Inc. and Silver Lake Publishing is prohibited.