How could an individual get into financial trouble by using a credit card? If an individual were in trouble because of credit-card debt, what steps could he/she take to reduce his/her debt?

Credit is immediate purchasing power that is exchanged for a promise to repay borrowed money at a later date. As of December 2012, American consumers owe $11.31 trillion in debt. Of this, $858 billion is credit card debt (a 7.1% increase from December 2011). www.annualcreditreport.com is a central site that allows individuals to request a … Read more