How credit impacts your life depends on how responsible you are. Credit can be a useful tool but it can also get you into trouble. You need to build credit in order to prove your credit worthiness. Once you accept credit, you enter into a contract to receive something of value now with a promise to pay the lender at some date in the future, with interest. An important thing to remember is that credit extends beyond the purchase of goods. Landlords, loan lenders and some employers will review your credit and payment history. A good payment history demonstrates responsibility, a trait most employers seek. The goal of credit management is to show those who inquire about your credit that you are responsible and able to control your spending.