A credit card is a payment card issued to users as a system of payment. It allows the cardholder to pay for goods and services based on the holder’s promise to pay for them. An estimated fifty billion dollars worth of credit card debt will take place in 2012. Even though the number is high, delinquency and charge-offs have both declined by over 20%. Just like our slow climb out of the recession, bad credit will slowly decrease as more individuals are educated.