There are many great and credit cards out there, but unfortunately, many companies target the young and financially inexperienced, who aren't knowledgeable enough to make a wise and informed decision about which credit card will be the best one for them.

In a time when everything is being made from recycled materials in an effort to help save our environments from excessive waste products that are filling up our landfills and polluting our earth- you probably find the number of pre-approved credit offers a big waste of paper. Particularly if you're not even considering obtaining a new credit card.

Falling into the trap of overspending on credit cards during the holiday season is never a good thing as far as your wallet is concerned, but wise spending with credit during your holiday shopping can be really beneficial.

A credit report is a document that summarizes your history of credit usage. Your credit report also contains personal information including your social security number, previous addresses, other names you've used, information about liens, defaults, bankruptcies and other public information, credit card information including payment history, and the names of individuals/organizations who recently pulled copies of your credit report.

Your credit rating is a type of "report card" that is maintained by credit bureaus or credit reporting agencies as they are commonly called. These credit reporting agencies collect loan balance and payment information from lenders who have agreed to report your financial performance.

A credit line is the amount of money an issuer of credit has extended to you. It's actually a loan that you are able to borrow against it. A credit line is also known as a line of credit or simply, a line. As you borrow against the credit line, you'll repay the balance according to a predefined payment schedule.

Credit limit is the maximum amount of money that a bank or other money lender will lend to a money borrower, or the maximum amount of credit that a credit card company will allow a card holder to borrow on a single card.

Your credit history is just that - a record of your past use of credit. Of primary interest is how well you repay the credit you have been extended. Your credit history is one of the determining factors mortgage lenders and other issuers of credit utilize in making a determination about your creditworthiness.

A Credit Bureau, also known as a Credit Reporting Agency or Consumer Reporting Agency, functions as a central repository of credit and collection records, payment history and certain legal information on consumers and businesses.

A prepaid credit card works very much like a debit card. In order to make purchases or take cash advances, there needs to be sufficient funds in the account attached to the prepaid credit card. If that fund contains insufficient funds, the intended prepaid credit card purchase won't be approved.