Credit Overview

A Credit Economy

Credit Cards
The number of credit cards in the US
has exploded in recent years

We live in a credit economy. From 1990- 2003, the number of people in the United States holding credit cards grew by about 75 % -- from 82 million in 1990 to 144 million in 2003. Even more striking--the the amount they charged grew approximately 350%, from $338 billion in 1990 to $1.5 trillion in 2003.

Credit is important. But, if you're like most of us, you probably have some questions about credit.

In this Trusty Guide to Credit we'll provide answers to questions like:

  • What is a credit report and credit score? How can I get mine?
  • What's a poor score? Why does it matter?
  • Will a late payment lower my credit score?
  • How is my credit affected by having many credit cards?
  • How can I improve my bad credit?

Let's get started with a basic question, "Why is credit important?"

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