Credit can be a useful tool in your financial planning, but unfortunately it can also result in financial disaster if it is not well planned and carefully thought through. There are certain facts you should know about making purchases on credit, both regarding your own financial position and about the types of credit available to you. You should be aware of what amount of credit you can realistically afford. And what to do if you’ve taken advantage of too much access to credit.
The goal of your financial institution should be to help you make well-informed decisions and to show you how to avoid potential problems.