Question

What is one strategy that can help a borrower reduce the cost of credit card debt?


A. The borrower can pay off the interest on the credit card but not the principal.


B. The borrower can make additional payments on the principal.


C. The borrower can make quarterly instead of monthly payments.


D. The borrower can switch to a credit card with a higher compound interest rate.

Answer 1

Answer:

The borrower can make additional payments on the principal

Explanation:

It just makes since than the other ones

Answer 2

There is one strategy that can help to reduce the cost of credit card debt which is the borrower can make additional payments on the principal. Therefore, Option B is the correct statement.

What is described as credit card debt?

Credit card debt is cash a corporation owes for purchases made with the aid of using a credit scorecard. It appears under liabilities in the position statement.

Credit card debt is a contemporary liability, this means that corporations should pay it inside an ordinary running cycle, (generally much less than 12 months).

Therefore, Option B is the correct statement.

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