About credit cards. What is credit?

Rosie Travino: In short, it's basically your report on how you manage your credit. Credit is basically another word for loan. When you use a credit card, the credit card company is essentially giving you a loan, which you must pay back. So the more personal responsibility you have in managing your credit, the higher your credit score becomes. A higher score simply means that you are a low risk lender. Someone with a bad credit history will have a lower score and will be considered high risk. Generally speaking, personal responsibility when talking about credit means that a person only "borrows" what they can pay back right away. If you end up "borrowing" or using your credit card for more than you can pay back each month, your credit score will drop. Having a good credit score will benefit you later on. When most people buy homes, they will usually borrow a significant amount from the bank. When you borrow money from a bank, you are charged interest for your loa! n. The higher your credit, the lower interest you will have to pay....Show more

Sammy Hatzenbihler: personal responsibility is the number 1 thing that affects your credit and the responsibility is reported by those you do business with not what you feel about your self