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4 August, 23:54

1. Select the most likely outcome of making only on-time minimum payments to a credit card with a balance for an entire year?

Your credit score will suffer because making minimum payments doesn't count as an on-time payment for the 'payment history' portion of the credit score.

The credit card will reward you with a lower interest rate once you've made 12 consecutive on-time payments.

Your payments will have gone mostly towards paying interest and you will still owe the majority of the balance that you had from a year ago.

Making 12 on-time minimum payments means that your credit card is completely paid off.

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Answers (1)
  1. 5 August, 01:14
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    Your payments will have gone mostly towards paying interest and you will still owe the majority of the balance that you had from a year ago.
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