The percentage of money a credit card company charges customers who pay back loans over time is called: A. the credit score.
B. the credit limit.
C. the interest rate.
D. the minimum monthly payment.
Question & Answer
The percentage of money a credit card company charges customers who pay back loans over time is called:
1 Answer
Verified archiveThe correct answer is C. the interest rate.
The interest rate is the percentage that a credit card company charges on the outstanding balance when customers choose to pay back their loans over time. It’s important to understand this rate, as it affects the total amount of money you will pay back beyond the principal balance. If you have more questions or need deeper insights, feel free to check our extended services page!