Question

Making a credit card minimum payment:

a) Means you are paying a small portion of your total credit card debt
b) Is the same thing as making a late credit card payment
c) Will have a negative effect on your credit score
d) Will cause your credit card to be cancelled

Is the answer a?

Answer 1

Answer: A

Even if your credit card calculates minimum payments differently and you might even have a lower interest rate than 18%, your minimum payment mostly goes towards interest and not your principal balance.


^ From google.



i hope this helped and have a wonderful day!!

Answer 2

a) Means you are paying a small portion of your total credit card debt

yes, it is paying a small portion of your total.. after all, it is called "minimum", in which you don't pay all that you owe the credit card company at once.

hope this helps