Introduction to Credit

Credit is an important part of the American economy. 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. Even wealthy people use credit.

However, credit can be abused by both the creditor and borrower. For this reason the government has passed laws regulating fair credit practices.

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