Do you have a credit card?  How about a home mortgage or student loan?  Do you use services that you pay for on a monthly basis (i.e. utilities)?  All of these are examples of using credit.  When used responsibly, credit can potentially help you reach some important personal life goals and build a secure financial future.  However misusing or not managing credit carefully can quickly create personal debt levels that become difficult to repay and/or a credit report that makes it difficult to obtain affordable credit in the future.

In today’s economy it is essential to understand the basics of credit.  Over the course of your lifetime you will likely have the opportunity to obtain and use credit in a variety of ways for a variety of purposes.  You may want to, need to, or consider using credit to purchase a home or a car, finance an education, pay bills, or meet emergency financial obligations. 

Whether you have never used credit before, or if you have used it extensively and perhaps even accumulated significant debt, this section can help you make wise choices both now and in the future.