Resource Center - Debt

Choose from the resource categories below to discover and learn more about personal finance across the topics of budgeting, debt, income, insurance, investing, and retirement.

7 Steps to Getting Out of Debt

Don't expect to get out of debt overnight. Getting out of debt can be a slow process that can take several years. It can happen sooner, but it depends on your commitment to follow through. Of course, the amount of money you can afford to pay toward your debt has an impact, too. Follow these seven steps to pay off your debt. 1.  Reflect on how you got into debt.... Read More >>>

How To Get Your First Credit Card

Eighteen is a liberating age. You're legally an adult. You can vote. You may be going to college soon, if you're not already there. And, you can get a credit card.... Read More >>>

The Difference Between Secured and Unsecured Debts

When it comes to debt, there are two major types: secured debt and unsecured debt. Knowing the difference is important for borrowing money and for prioritizing your debts during payoff.... Read More >>>

10 Credit Card Terms You Should Know

The lingo used in the finance world sometimes seems like a foreign language. Here are some terms that will help you better understand your credit card.... Read More >>>

5 Tips For Starting Out With Credit

There's a lot to know about credit and ignorance can prove to be extremely costly to your pockets and your credit score. It helps to know at least the basics about credit, even before you get your first credit card. Understanding how credit and credit cards work helps you make the right decisions about choosing and using your first credit card.... Read More >>>

Introduction to Credit

As a child watching an adult make credit card purchases, you might have assumed that the cards had some type of magical power that let people buy things without having to actually spend money. Some card-carrying adults still have the same assumption. If you haven’t figured it out yet, here’s one fact about credit that you must know: it’s not a cash substitute, but rather a loan that you must pay back with money you earn for days, weeks, and years to come.... Read More >>>

Why Good Credit Matters

Society is becoming increasingly dependent on using credit to make purchases and decisions. These days, good credit is used for more than just getting a credit card or a loan. More and more businesses are making the case that you must have good credit before they extend products or services to you.... Read More >>>

10 Things You Must Know About Credit

To use a credit correctly, it's important to know as much as you can about it. Here are 10 things you must know about credit if you want to use it the right way.... Read More >>>

An Overview Of Your Credit Report and Score

Did you know that your credit history - credit cards, loans, some medical bills, collections, etc. - is compiled into a single document known as your credit report? Did you also know that the information in your report can be given a numerical value called a credit score? Your credit report and credit score are the two primary methods that creditors and lenders make credit decisions about you.... Read More >>>

How Credit Cards Work

Have you ever stood behind someone in line at the store and watched him shuffle through a stack of what must be at least 10 credit cards? Consumers with this many cards are still in the minority, but experts say that the majority of U.S. citizens have at least one credit card -- and usually two or three. It's true that credit cards have become important sources of identification -- if you want to rent a car, for example, you really need a major credit card. And used wisely, a credit card can pro... Read More >>>