If you're like most consumers in the United States, your ability to own a home, purchase a car, fund a college education, travel and make routine purchases hinges on your responsible use of credit. Because an automated credit reporting system works quietly in the background on your behalf, you have unlimited options in your financial life. For example, you can:

• Purchase a home in one area of the country based on the good credit record you established while living in another part of the country
• Shop for and be offered financial services from institutions in other regions of the country
• Pay for emergency medical treatment
• Negotiate a deal for a new car and drive it off the lot within a few hours
• Catch an airplane at the last minute

Credit reporting also helps foster intense competitive marketing battles among financial services providers. This competition provides you with:

• Lower interest rates
• Reduced annual fees
• Special toll-free customer service phone numbers
• Customer recognition programs
• Purchase protection plans, among other benefits