An interesting article tackles an uncommon topic: debt and the affluent. Many of the headlines over the last few months have mentioned how discretionary spending by the well-off has tapered off in the midst of the economic downturn. But the wealthy are also being impacted by bread-and-butter financial situations like missed or late credit card payments, excessive borrowing, and a general lack of information on topics like credit scores. Here’s some of the important points made:

• Those in higher income brackets can remain uninformed of exactly how credit works

• Those who have habitually shunned the usage of credit cards or taking on debt in any form can suffer a low credit score, in spite of what most would consider responsible financial behavior

• “income and savings aren’t factors in determining a credit score“

• Higher credit scores are needed by individuals at all income levels to qualify for the most competitive financing these days