Credit can be expensive because lenders or creditors do not lend $5,000 and then simply ask for $5,000 back in return. Rather, they charge you—the debtor—for the extension of credit. You have to pay interest—often called finance charges—as you pay back the loan amount. If you miss payments, then you will have to pay even more money in order to pay off your debt. Consumer credit has risen to nearly $3 trillion dollars, as many people regularly spend beyond their means.