Credit scores, credit cards : how consumer finance works : how to avoid mistakes and how to manage your accounts well

How to make sure your credit history, financial data, account information and other essentials are strong and safe! In 2001, the average North American consumer spent nearly $40,000 on credit cards. By 2005, this average person will carry over $50,000 in consumer debt - not counting mortgages or car loans! This unsecured consumer debt is fundamentally changing the way Americans live: * the tradition of a home owned free and clear has become unusual as people borrow against their homes and refinance repeatedly to pay for discretionary spending * financing vacations, electronics and dining out with multiple credit cards is commonplace At the same time, credit scores have become the golden keys to successful borrowing. But what does it all mean? How do you know you’re managing your credit wisely? In a credit-based economy, your credit score means as much to you as money in the bank meant to your grandparents --and here's how to protect it! By the end of 2003, consumer debt in the U.S. reached 2 trillion. By 2005, the average American may be carrying over 50,000 in consumer debt and that doesn't count mortgages or car loans. It's unsecured debt related to consumer spending. This borrowing is expensive and is fundamentally changing the way Americans live. Credit scores have become the golden keys to successful living. But what does it all mean? How do you know you're managing your credit wisely? In a credit-based economy, your credit score means as much to you as money in the bank meant to your grandparents. This book explains "The price of mismanaging credit gets higher each year; understanding how it works is no longer an option, only for bankers or accountants. You need to understand how credit works. This book explains what the jargon means. In plain English. It shows how the credit system works, from the consumer's perspective ... and also from the bank's. Read this book and you'll know how to read your credit card bills. You'll know how to tell a good deal from a bad one. And you'll know how to lift your credit score and keep it up."--Jacket Preliminaries; CONTENTS; Why Credit Is So Important; The Mechanics of Credit Scores; How Credit Cards Work; Choosing a Credit Card; Using a Credit Card Wisely; Dealing with Credit Bureaus; Who Can Look at Your Credit; Red Flags and Black Marks; If you're having Money Problems; Family Issues; Improving Your Credit Score; Mortgages and Car Loans; Keeping Good Credit; Key Credit Terms; INDEX.