Question

which is a short - term consequence of making a late payment on your bill?
it will be harder to buy a house because it affects your credit history.
there will be a late fee added to the bill.
it will be harder to secure a new loan at a low rate.
the bank will charge a fee for having a negative balance.

Explanation:

To determine the short - term consequence of a late bill payment, we analyze each option:

• The first option (harder to buy a house due to credit history impact) and the third option (harder to secure a new loan at a low rate) are long - term consequences as they relate to future credit - related activities over an extended period.
• The fourth option is incorrect because a late payment on a bill is not related to a negative balance fee (a negative balance is a different situation, like having more money returned to the account than was in it, not a late payment situation).
• The second option (a late fee added to the bill) is a short - term consequence as the late fee is immediately or shortly added to the bill after the late payment.

Answer:

B. There will be a late fee added to the bill.