The incorrect statement about the minimum payment is "if you send the minimum payment, you will be charged a late fee." The minimum payment is all that is needed on a credit card or other loan. There will never be a late fee added if the minimum payment is sent in unless it is late.
Further Explanation:
minimum payment:
The minimum payment is the most minimal measure of cash that you are required to pay on your financial record every month. See your Visa "terms and conditions" record to perceive how your charge card's base installment is determined.
you ascertain minimum payment:
They utilize the equalization toward the part of the bargain cycle to figure the base installment due. For instance, your base installment is 2% of your parity and you have a $1,000 balance. Your base installment is determined as: 1000 X .02 = $20.
minimum payment on charge cards:
Most charge cards just expect you to make a minimum installment every month, which is commonly a fixed sum, regularly $20 to $25, or a level of your parity, typically 1 to 3 percent. Paying the minimum is enticing, particularly if your spending limit is tight. Be that as it may, the less you pay now, the more you'll pay later.
Subject: business
Level: High School
Keywords: minimum payment, you ascertain minimum payment, minimum payment on charge cards.
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