QuestionJuly 11, 2025

They do not charge interest 10. Select the statement below that accurately describes a characteristic of a credit card. You owe the same payment every month You must have money deposited into a checking account to use the credit card for purchases Making full payments on-time every month is the only way to avoid interest charges 1 poin

They do not charge interest 10. Select the statement below that accurately describes a characteristic of a credit card. You owe the same payment every month You must have money deposited into a checking account to use the credit card for purchases Making full payments on-time every month is the only way to avoid interest charges 1 poin
They do not charge interest
10. Select the statement below
that accurately describes a
characteristic of a credit card.
You owe the same payment every
month
You must have money deposited into a
checking account to use the credit card
for purchases
Making full payments on-time every
month is the only way to avoid interest
charges
1 poin

Solution
4.0(240 votes)

Answer

Making full payments on-time every month is the only way to avoid interest charges Explanation 1. Identify the correct statement Analyze each option to determine which accurately describes a characteristic of a credit card. - "You owe the same payment every month": Incorrect, as credit card payments vary based on usage and interest. - "You must have money deposited into a checking account to use the credit card for purchases": Incorrect, as credit cards do not require pre-deposited funds like debit cards. - "Making full payments on-time every month is the only way to avoid interest charges": Correct, paying the full balance by the due date avoids interest.

Explanation

1. Identify the correct statement<br /> Analyze each option to determine which accurately describes a characteristic of a credit card.<br /><br />- "You owe the same payment every month": Incorrect, as credit card payments vary based on usage and interest.<br />- "You must have money deposited into a checking account to use the credit card for purchases": Incorrect, as credit cards do not require pre-deposited funds like debit cards.<br />- "Making full payments on-time every month is the only way to avoid interest charges": Correct, paying the full balance by the due date avoids interest.
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