Introduction to Credit

The definition of credit is expanding as more companies want to know your credit history before doing business with you. For example, did you know a cell phone company gives you one month of service as a "credit" in expectation that you'll pay for your usage once that month is up. That's right. Anytime you're given a product or service before you pay for it, you're being extended credit. Of course, that includes being allowed to use someone else's money.