Credit is one of the most poorly understood financial structures in the life of the average American. Everybody knows that mot people have credit scores (whatever those are) and that wise spending and paying off your credit bill make a score go up. That’s about where most people stop.
Instead of learning how credit really works, people rely on their guts for day-to-day decision making, hoping that everything will turn out right in the end. Unfortunately, debt and poor credit behaviors come together fast. People with little understanding and strategy get weighed down financially, often in ways that they don’t even notice.