question 1/10 what is the problem with paying only your minimum credit card balance each month? a. it lowers…

question 1/10 what is the problem with paying only your minimum credit card balance each month? a. it lowers your credit score b. you have to pay interest c. the bank will cancel your credit card d. all of the above

question 1/10 what is the problem with paying only your minimum credit card balance each month? a. it lowers your credit score b. you have to pay interest c. the bank will cancel your credit card d. all of the above

Answer

Brief Explanations:

Paying only the minimum balance doesn't lower your credit score as long as you pay on - time. The bank won't cancel your card just for paying the minimum. However, when you pay only the minimum, you carry a balance forward, and credit card companies charge interest on the remaining balance.

Answer:

B. You have to pay interest