Final answer:
Balance Transfers, Purchases, Interest Charged, and Cash Advances all increase the amount you owe the credit card company.
Step-by-step explanation:
Which of these transactions types INCREASE how much you owe the credit card company? (Choose 4)
1. Balance Transfers
2. Purchases
3. Interest Charged
4. Cash Advances
5. Payments
Out of the given transaction types, Balance Transfers, Purchases, Interest Charged, and Cash Advances all increase the amount you owe the credit card company. Here is a step-by-step explanation for each of these transactions:
1. Balance Transfers: When you transfer a balance from one credit card to another, you are essentially moving your debt from one card to another. This increases the amount you owe the credit card company.
2. Purchases: When you make purchases using your credit card, you are adding new charges to your balance, which increases the amount you owe.
3. Interest Charged: Every month you carry a balance on your credit card, you are charged interest on the amount you owe. This interest is added to your balance, increasing the amount you owe.
4. Cash Advances: When you take a cash advance from your credit card, you are essentially borrowing money from the credit card company. This increases the amount you owe.
5. Payments: Payments, on the other hand, decrease the amount you owe. When you make a payment towards your credit card balance, you are reducing the overall amount you owe the credit card company.