What statement is TRUE regarding credit card finance charges? Most credit cards regularly charge 5 percent annual interest. Credit card companies only charge what it costs them to obtain financing. Credit card rates remain consistent whether you pay on time or not. Credit card companies often offer lower interest rates to customers who can't pay on time. Interest is usually calculated on the average daily balance over the month.
What statement is TRUE regarding credit card finance charges? Most credit cards regularly charge 5 percent annual interest. Credit card companies only charge what it costs them to obtain financing. Credit card rates remain consistent whether you pay on time or not. Credit card companies often offer lower interest rates to customers who can't pay on time. Interest is usually calculated on the average daily balance over the month.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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What statement is TRUE regarding credit card finance charges? Most credit cards regularly charge 5 percent annual interest. Credit card companies only charge what it costs them to obtain financing. Credit card rates remain consistent whether you pay on time or not. Credit card companies often offer lower interest rates to customers who can't pay on time. Interest is usually calculated on the average daily balance over the month.
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