Question

Which of these transaction types DECREASE how much you owe the credit card company?

Answer 1

Options:

a. Balance Transfers

b. Cash Advances

c. Payments

d. Interest Charges

Answer:

c. Payments

Step-by-step explanation:

Of all the given options, only (c) Payments decreases amount owed.

(a) Balance transfer means one is taking out cash from the account (i.e. a debit transaction); (b) Cash advances implies a withdrawal transaction from one's account and (c) Interest charges is the amount of interest deducted from an account over a debt for a given period.

As analysed , each of the above transactions increases debts.

However, (c) Payments implies a credit transaction and as such, reduces the amount owed.

Answer 2

Answer:

C. Payments

Hope this helps :)