QuestionMay 4, 2026

Which of the following is NOT true? The average cardholder has more than nine credit cards Most credit card companies do not offer a grace period Cardholders who do not pay in full each month are borrowers Cardholders who pay in full each month are convenience users

Which of the following is NOT true? The average cardholder has more than nine credit cards Most credit card companies do not offer a grace period Cardholders who do not pay in full each month are borrowers Cardholders who pay in full each month are convenience users
Which of the following is NOT true?
The average cardholder has more than nine credit cards
Most credit card companies do not offer a grace period
Cardholders who do not pay in full each month are borrowers
Cardholders who pay in full each month are convenience users

Solution
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Answer

The average cardholder has more than nine credit cards Explanation 1. Identify known financial facts Most cardholders have far fewer than nine credit cards; average is about 3–4. 2. Evaluate each statement for truth 1) "Average cardholder has more than nine credit cards" — False. 2) "Most credit card companies do not offer a grace period" — False in reality, but the key question asks which statement is NOT true among the list; this statement can be debated but many do have grace periods. 3) "Borrowers" = those who carry balance — True. 4) "Convenience users" = pay in full monthly — True. 3. Select the clearly incorrect one The first statement about nine credit cards is factually incorrect and unrealistic compared to actual averages.

Explanation

1. Identify known financial facts <br /> Most cardholders have far fewer than nine credit cards; average is about 3–4. <br />2. Evaluate each statement for truth <br /> 1) "Average cardholder has more than nine credit cards" — False. <br /> 2) "Most credit card companies do not offer a grace period" — False in reality, but the key question asks which statement is NOT true among the list; this statement can be debated but many do have grace periods. <br /> 3) "Borrowers" = those who carry balance — True. <br /> 4) "Convenience users" = pay in full monthly — True. <br />3. Select the clearly incorrect one <br /> The first statement about nine credit cards is factually incorrect and unrealistic compared to actual averages.
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