Question

a true statement about credit card fees and interest rates is
if a person opts-out of paying an over-the-limit fee, a purchase that goes over the limit will be rejected.
a credit card issuer can raise the interest rate if a person has a pattern of being late in paying another creditor.
a card company cannot change from not charging an annual credit card fee to charging one.
credit card interest rates cannot be raised if the cardholder pays the minimum payment each month.

Explanation:

• For the first option: If a cardholder opts out of over-the-limit fees, the issuer may still approve over-limit purchases and decline to charge the fee, so this is false.
• For the second option: Credit card issuers can increase interest rates if a cardholder shows a pattern of late payments to other creditors, as this signals higher credit risk, which is a valid practice under credit terms.
• For the third option: Card companies can change their fee structure (start charging an annual fee) with proper notice to cardholders, so this is false.
• For the fourth option: Interest rates can still be raised (e.g., for promotional rates expiring, or if the account is in default even with minimum payments in some cases), so this is false.

Answer:

B. a credit card issuer can raise the interest rate if a person has a pattern of being late in paying another creditor.