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Personal Finances / Credit Cards and Consumer Debt

URL:  http://boards.fool.com/cashinasnap-you-wrote-debt-results-when-you-as-a-30681317.aspx

Subject:  Re: Credit Card Debt Question Date:  5/13/2013  12:27 PM
Author:  joelcorley Number:  307026 of 308884

cashinasnap,

You wrote, Debt results when you as a client of a credit card company purchases an item through the card. Debt accumulates and increases via interest and penalties when you don't pay the company the money you have spent. The late payment penalty increases the amount of debt with each passing time.

I realize you're new; but if you're going to post in response to a thread, please make it on-topic - preferably answering the post you're replying to. Also, I'm pretty sure people understand more or less how credit cards work by the time they get here. Insights such as these are anything but.

If you're posting just to hear yourself talk, there are boards for that ... or you could start a new thread ... and TMF let's you start your own board as well.

- Joel
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