Introduction to Credit

Credit is an important part of the American economic system; without it, our economy would come to a screeching halt. Credit has been around as long as there has been money. It helps the flow of commerce. However, credit is subject to abuse by both the creditor and borrower. For this reason the federal government and many state governments have passed laws regulating fair credit practices.

When used wisely, credit is your friend; used unwisely, it can become your worst nightmare.