if an individual has a credit score of 560 and they pay their credit card late once or twice, what might…

if an individual has a credit score of 560 and they pay their credit card late once or twice, what might they expect a credit card company to do? (1 point)\nclose their account\noffer them a lower apr to lower payments\nsend the account to collections\nincrease the apr to 24% or higher and charge a late fee.

if an individual has a credit score of 560 and they pay their credit card late once or twice, what might they expect a credit card company to do? (1 point)\nclose their account\noffer them a lower apr to lower payments\nsend the account to collections\nincrease the apr to 24% or higher and charge a late fee.

Answer

Brief Explanations:

A credit score of 560 is relatively low, and paying credit - card late once or twice is a negative behavior. Credit card companies typically respond to such behavior by increasing the APR (Annual Percentage Rate) to a high rate like 24% or higher and charging a late - fee. Closing the account or sending it to collections is more likely for more severe or repeated delinquencies. Offering a lower APR is not a typical response to late payments.

Answer:

Increase the APR to 24% or higher and charge a late fee.