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What is likely to happen if a borrower is late on a payment for a credit card account? The credit card company requires the entire balance be paid in full immediately. The credit card company cancels the card after the first tardy payment. The credit card company doubles the credit limit. The credit card company applies a penalty rate, increasing the card's interest rate.

Victoria Fowler

in Business

1 answer

1 answer

William Cain on December 21, 2018

The last response applies an extra charge rate is the correct answer.

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