Question

Which of the following statements about minimum payments is incorrect?
A) If you send in the minimum payment, you will be charged a late fee
B) Paying the minimum means you are only paying off a portion of your total debt
C) You will still pay interest on your balance if you submit the minimum payment
D) Minimum payments are typically only 2-4% of your total debt

Answer 1

If you send in the minimum payment, you will be charged a late fee

The answer is option a

Answer 2

A) If you send in the minimum payment, you will be charged a late fee

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A) If you send in the minimum payment, you will be charged a late fee

of the following statements about minimum payments is incorrect