C redit is an important element of the United States' economy.
Credit extends purchasing power and helps satisfy consumer wants and needs.
Many individuals depend on credit to meet financial obligations. This fact sheet provides some tips on managing credit. Controlling Spending The first step in maintaining good credit is to control spending. However, sometimes the accessibility of credit makes it easy to overspend, and overspending can lead to debt that is difficult to get under control. Unpaid bills can damage your credit rating and make it impossible to obtain credit when you need it, for example, for a new home or car purchase.