Good credit is valuable. Having the ability to borrow funds allows us to buy things we would otherwise have to save for years to afford: homes, cars, a college education. Credit is an important financial tool, but it can also be dangerous, leading people into debt far beyond their ability to repay.

Most people finance their homes with mortgages and pay for their cars with loans. Young people often obtain loans to pay for college. And, of course, lots of people make purchases with credit cards.

Outstanding credit card balances can get the better of you if you don't keep them under control.

The financial and psychological burden of being in debt causes us and our families continuous emotional stress. That stress eats away at the quality of our lives and leaves us feeling powerless, angry, depressed and helpless.

An affinity card is a branded credit card that is co-issued by a bank and the organization whose logo appears on the card.

Earning airline miles is easy. All you have to do is use the credit card that offers airline miles rewards when making your credit purchases. And if you pay close attention to the details that discuss how and when airline miles accrue, you'll be accruing airline miles in no time.

No other credit card offers the prestige that has come to be associated with the American Express card. What began in 1850 as a nation-wide freight forwarding company soon evolved into a company that created traveler's cheques and money orders which were sold to and used by customers around the world.

The annual fee, or membership fee, is an amount charge card companies levy for the right to use or carry their card. This fee is payable whether you actually use the card during the year or not. Annual fees range from an average low of $25 to as much as $100 or more.

Annual Percentage Rate or APR is a yearly rate of interest that includes all of the fees and expenses paid to acquire the loan or credit card. APR can vary anywhere from around 3% right up to 21% and beyond.

The Daily Average Balance is one of the three most common methods that credit card issuers use to calculate the amount of interest they charge on your credit card balance. The other methods are called the "previous balance method" and the "adjusted balance method." Of the three, the Average Daily Balance method costs you the most in interest charges.