Credit Facts
Did you know?
3,000,000,000 credit card offers go out to consumers each year.
The amount of credit card debt in the United States is 2.2 Trillion.
The average amount of credit card debt per American household is $10,000.00.
How many credit card offers do you receive on a weekly basis? As you know, Americans are experiencing financial hard times because of high debt and not enough savings.
What is Credit?
The ability to borrow money or obtain goods by paying little or no money at the time of purchase.
Your promise to pay the original cost later or over time, plus interest.
Why do you need credit?
- Purchasing a home
- Renting an apartment
- Purchasing or leasing a car
- Getting phone service or utilities
- Getting a job
In our next CCMS Newsletter we will discuss Good Credit versus Bad Credit and tips on creating a monthly plan.
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