I handle my credit very well because I understand the impact that credit can have. There are several definitions of what credit actually is. The concept of borrowing money that you promise to pay back has become widely popular over the years and even more now that purchasing most items on the Internet requires the use of a credit card. Credit cards have plunged into the American culture just as fast as baseball became America's pasttime. A person can jump online and transfer money from account to account, go to numerous stores in the mall and pay off his or her credit card to a salesperson.
Some cards even give the consumer's overdraft coverage for their checking accounts.
Iowa's Attorney General Tom Miller warns against credit card debt. In the past month Miller released a consumer advisory to help college students avoid the dangers of debt. The advisory cautions students to take a deeper look into the tricks some companies try to pull. Miller said studies indicate that high debt is forcing some students to take on more paid work and reduce their academic load, or even drop out of school. Miller does want students to take the warning seriously, but he also said credit cards can serve a purpose.