There are many credit card companies trying to give you credit. Before you take that new T-shirt or water bottle, you should be aware of a few important facts. You get credit by promising to pay in the future for something you receive in the present. It is the consumer's ability to assure the lender that the money will be repaid.
Credit is a convenience.
It lets you charge a meal on your credit card, pay for an appliance on the installment plan, take out a loan to buy a house, or pay for schooling or vacations. With credit, you can enjoy your purchase while you are paying for it or you can make a purchase when you are lacking ready cash. But there also are strings attached to credit. It is essential that one know the dangers of credit abuse. What is borrowed must be paid back .