The main thing Vinnie did wrong was have multiple credit cards, and it say sin the question 'had fun with them' he probably did not monitor how much money he was spending.
"If you send in the minimum payment, you will be charged a late fee."
This is an INCORRECT statement, because you will not be charged a late fee just for making the minimum payment. Minimum payments are not a good idea because you will be charged interest on the remaining amount and will have a harder time paying off the balance, but you will not be charged a late fee.
M1: 4750
2500 billion in the economy
