Question

multiple choice question
which of the following is not true?

cardholders who do not pay in full each month are borrowers
most credit card companies do not offer a grace period
cardholders who pay in full each month are convenience users
the average card holder has more than one credit card

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Explanation:

• Cardholders who carry a balance (don't pay in full) are borrowers as they incur interest.
• Most major credit card companies do offer a grace period, typically 21-25 days, for cardholders who pay their full balance each billing cycle, so this statement is false.
• Cardholders who pay in full monthly use the card for convenience (no interest, just payment ease) and are called convenience users.
• Industry data shows the average credit card holder has multiple credit cards.

Answer:

B. most credit card companies do not offer a grace period