3: Understanding Credit

What is credit, exactly? How do you get it? And what does it mean to you?

Credit means, "buy now, pay later." It involves a complex system of checks and balances, pros and cons, and points and scores that impact your financial capabilities and life on many levels -- particularly when you wish to buy or lease space.

In this chapter we will discuss the following:

• Credit and credit scores;
• The financial impact of credit;
• Differences between personal and business credit;
• How to repair your credit;
• How credit affects your ability to secure space; and
• How to protect your credit rating.