In these uncertain economic times, there are a record number of layoffs, divorces, repossessions, foreclosures, and late payments – all of which can contribute to bad credit ratings. At the same time, identity theft is on the rise, as thieves use unsuspecting victims’ personal information to make purchases, open new accounts, and even get jobs using victims’ social security numbers. 

Unfortunately, if you fall behind in payments to even one creditor or if your credit score drops for any reason, it can trigger a jump in the rates on all of your credit cards—up to as high as 30%.¹ That means it takes you even longer to pay off your debts, and it costs you more to do so.

• About 43% of U.S. families spend more than they earn,
shelling out $1.22 for every dollar they bring in as income.²

• 70% of all credit reports contain mistakes,
ranging from minor errors to major problems that negatively affect people’s credit status.

• 43.4 million people in the U.S. have a credit score of 599 or below—
it's unlikely they will be able to get credit cards, auto loans, or mortgages.³

• 120 million Americans have less than perfect credit.
But virtually every business transaction sooner or later will be governed by credit and credit scores such as getting a job, utilities, cars, homes, loans, etc.

• 11.1 million people were victims of identity theft in 2009.⁴
Many of them didn’t even know their information was being used.

• 70% of identity theft victims said that it took up to a year to clear
all the misinformation from their records—
taking an average of $550 and 116 hours to do it—and not all succeeded.⁵