BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the problem with paying only your minimum credit card balance each month?
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It lowers your credit score
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You have to pay interest
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The bank will cancel your credit card
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All of the above
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Explanation:
Detailed explanation-1: -While it’s important to make at least the minimum payment, it’s not ideal to carry a balance from month to month, because you’ll rack up interest charges (unless you’re benefiting from an intro 0% APR) and risk falling into debt.
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