Do you know that debt elimination is key to achieving and maintaining a good, if not excellent, credit report and score? Haha, don't be surprised if you didn't know that. Don't feel silly, either. Most people don't realize that, and its not your fault in the least. I think you might agree, most people probably think that the key to good credit is taking on debt and at least paying the minimum payments on time over time. The more debt the better for your credit score and how you look in the eye of mortgage lenders, credit card companies, bankers, and the government.