Why do credit card companies typically require small minimum payment amounts on their customers' monthly credit card statements.
a. Credit card companies are concerned that their customers will be put in financial distress if required to make higher payments.
b. Credit card companies want to promote faster repayment, and customers will be encouraged to pay more each month if they’re able to pay well beyond the minimum.
c. Credit card companies want to increase profits by promoting slower repayment, and actual customer repayments will be anchored by the smaller payment options
d. Credit card companies actually charge the highest minimum payment they are allowed by law to charge.

Question

07-01-2020
Business

contestada

Why do credit card companies typically require small minimum payment amounts on their customers' monthly credit card statements.
a. Credit card companies are concerned that their customers will be put in financial distress if required to make higher payments.
b. Credit card companies want to promote faster repayment, and customers will be encouraged to pay more each month if they’re able to pay well beyond the minimum.
c. Credit card companies want to increase profits by promoting slower repayment, and actual customer repayments will be anchored by the smaller payment options
d. Credit card companies actually charge the highest minimum payment they are allowed by law to charge.

Respuesta :

Otras preguntas

In the history of the United States, no president has ever been impeached and acquitted. died while in office. been impeached and convicted. resigned. been im

In humans, earlobes that are suspended are dominant over those that are attached. If a mother has suspended earlobes (but her mother did not) and the father has

velocity Figure 2.31 Velocity-time graphs for four cars. B C time Table 2.4 Data for a sprinter during a race Displacement 04 (m) Time (s) 10 20 50 80 105 0 1 2

what is the base word for the word instruction?

Two lizard species both forage in fig trees in the Caribbean. To study potential competition between the species, you observe a sample of both species, observin

The 1970s gave birth to the concept of the “anti-hero.” Name a modern movie (within the past 10 years) you have seen that also included an anti-hero. Is the con

Which of the given formulas for the general term of the sequence 8, 5, 2, –1, –4, ... is correct? a. tn = −3n + 11 b. tn = 3n + 11 c. tn = 3n + 8 d. tn = 3n − 8

PLEASE HURRYYY!!!! U.S. Bureau of Labor Statistics, 2006. Jasmine wants to enter a career with median earnings of at least $33,500, but she doesn't want to go t

How did religion play a role in the European colonization of the Americans?

Given that 25% of a certain volume is 30cm^3, calculate the total volume

jepessoa jepessoa · Answer 1 · 2020-01-09T20:42:27+01:00

Answer:

C) Credit card companies want to increase profits by promoting slower repayment, and actual customer repayments will be anchored by the smaller payment options

Explanation:

It is always a bad idea to only pay the minimum monthly payment on a credit card debt, since the APR charged is much higher than other personal loans. If someone only makes the minimum payment and continues to purchase goods or pay services, their balance will continue to grow.