Comments on: Reader Mail: Should I Try to ‘Buy’ Credit Points?

By: Fig. 1

Fig. 1 — Thu, 24 May 2012 16:51:37 +0000

@Leon Tchotchke HOW DO INVEST? IS THIS HOW INVEST?

By: Sarah H.

Sarah H. — Thu, 24 May 2012 16:28:01 +0000

@MaggieL Thank you, I actually didn’t realize that, either!

By: MaggieL

MaggieL — Thu, 24 May 2012 15:24:45 +0000

Thank you for answering this. I think there’s a lot of confusion about what “paying your card in full” and “carrying a balance” means. Paying off the card every month means you charge things, the credit card company sends you a bill, and then you pay that bill. No interest involved. There’s only interest if you do not pay them the full amount due — and in that case the interest will start to show up the *next* month.

I have had conversations with people who believe that “paying off the full balance” means paying the credit card company *before* they send you a bill. This is not necessary. Letting them bill you does not add interest.

By: aidan

aidan — Thu, 24 May 2012 13:22:32 +0000

Wait… 30 percent? I thought it was 50 percent. Are there multiple tiers of debt to credit ratios?

By: Leon Tchotchke

Leon Tchotchke — Wed, 23 May 2012 20:33:16 +0000

@Fig. 1 BUYING FACEBOOK SHARES BUILDS CREDIT BRO. Get ON that.

By: Fig. 1

Fig. 1 — Wed, 23 May 2012 20:01:18 +0000

“Buying” credit points? That seems like a terrible idea.

Related: can you guys look into a take-down of some of those financial advice books? My sister is foisting them upon me and I am suspicious. If somebody else tells me I need to start investing…