Understanding debt, and how or when to use it, is one of the biggest challenges for consumers. As you build your personal financial strategy, it is wise to educate yourself on borrowing basics and common credit pitfalls.

  • 5 Puzzles pieces connected together  with good credit labeled in the middle

    Understanding credit cards and credit scores is essential to establishing credit and using credit cards wisely. Your ability to get a loan for larger purchases (houses or cars) generally depends on your credit score, which is made up of different factors that show lenders your track record with debt. Remember, you pay interest on borrowed, or credited funds. The longer you take to pay back the money you borrowed, the more interest you will pay to your lender.