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26 May, 22:16

The minimum amount of money a credit card holder must pay to keep his or

her account in good standing is called the

A. billing cycle

B. finance charge

c. minimum monthly payment

O D. grace period

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Answers (1)
  1. 26 May, 22:19
    0
    Finance Charge.

    Explanation:

    Credit card is an instrument issued by the bank that allows the holder to buy goods and services in credit. In other words, it gives the holder loan opportunity that are repayable in the future.

    The bank charges a finance charge or interest rate on the amount owed based on the annual percentage rate, the amount owed and the length of repayment period. This is paid until the balance is fully offset within the grace period.
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