levi applies for a number of credit cards. soon he has large balances on all of them and makes only the…

levi applies for a number of credit cards. soon he has large balances on all of them and makes only the minimum payments. how could this affect him?\nlenders could take his home.\nlenders could offer to erase his debt.\nlenders could avoid giving him more credit.\nlenders could reward him with higher credit limits.

levi applies for a number of credit cards. soon he has large balances on all of them and makes only the minimum payments. how could this affect him?\nlenders could take his home.\nlenders could offer to erase his debt.\nlenders could avoid giving him more credit.\nlenders could reward him with higher credit limits.

Answer

Brief Explanations:

When Levi has large credit - card balances and only makes minimum payments, it indicates a higher credit risk to lenders. Lenders are less likely to extend more credit to someone with a high - risk credit profile. Taking his home is not a direct consequence of just credit - card debt and minimum payments. Lenders are not likely to erase debt or reward with higher credit limits in this situation.

Answer:

Lenders could avoid giving him more credit.