Which of the following are true if you pay only the minimun amount each month towards your credit card bill?

Quesiton : Which of the following are true if you pay only the minimun amount each month towards your credit card bill?

Answer: ...

Which of the following are true if you pay only the minimun amount each month towards your credit card bill? Brainly has millions of high quality answers all of them carefully moderated by our most trusted community members but verified answers are the finest of the finest. It would be letter D. both A and B. If you only pay the minimum amount each month towards your credit card bill you will be charged on your remaining balance. Which of the following are true if you pay only the minimun amount each month towards your credit card bill ? Your Annual Percentage Rate will increase. Which of the following is true of both paying with a check and paying with a debit card ? In applying for a credit card the potential creditor will look at your ________ to determine if you have funds to cover future debt payments if necessary. capital. It is good financial planning to pay only the minimum credit card payment and thus maintain a balance since interest rates are low on credit cards. You will be charged interest on your remaining balance. You may be in debt for a long time. - are true if you pay only the minimum amount each month towards your credit card bill . Answers. You will be billed interest on the following credit card bill depending on what credit card you have and will still have to pay off the full balance of the credit card on the next bill cycle. Only pay the minimum if you are seriously broke otherwise I would always pay full amount when due. Rate! Mon Nov 07 2016 00:00:00 GMT+0530 (IST) · Credit card issuers tend to set minimum payment requirements at rock-bottom levels. You’ll generally owe either a fixed amount — often $25 — or a percentage of the balance whichever’s greater. Some cards require you to pay only 1% or 2% of the balance each month plus any fees and accrued interest. The average interest rate on credit cards is in the neighborhood of 15%. If you have poor credit you can expect to pay closer to 20%. Of course these double-digit rates don’t feel so outrageous if you only pay the minimum each month — the smallest amount of money you can pay without incurring punitive fees or negative marks on your credit history. The amount of money you still owe to the credit card company Which of the following are true if you pay only the minimum amount each month towards your credit card bill ? d. Let us take an example - your credit card limit is $1 000. You spend $600. Your minimum payment is $15. Right now you have $400 left on your card . If you pay back $15 (min payment) then you have $415 left on your card ($600 - $15 = $585 is still owed for the last month ). So no - you do not get your entire credit limit back each month . Tue Oct 28 2008 00:00:00 GMT+0530 (IST) · Here's why: The minimum payment on your credit card is determined by taking a percentage of your balance and charging you that percentage each month . This amount is a very small portion of your balance usually between 2-5%. This size payment usually only covers...