Detailed text transcripts for TV channel - CNN - 20100724:13:43:00
You can -- carry around gobs of cash. you can now just carry around one or two cards. good credit means less expensive insurance in many states. good credit means that you're able to buy a house now versus waiting 20, 30 years to save enough money to do so or never be able to do so. the benefits of credit are significant. but the interesting thing is, it is a self-policing system. and the downside to credit abuse is very, very punishing because the bad things on credit reports day on for a prescribed period of time. that period of time is usually seven to ten years and you don't want to get yo...
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