According to the Credit Card Accountability, Responsibility, and Disclosure Act of 2009, credit cards must now disclose which of the following?

A. Phone number for credit counseling services

B. How many different ways the finance charges can be calculated and assessed.

C. How much interest will be paid of only minimum payments are made.

D. Minimum payment warning, payment amount, and due date.

Question

Rayan

Computers & Technology

14 October, 19:00

According to the Credit Card Accountability, Responsibility, and Disclosure Act of 2009, credit cards must now disclose which of the following?

A. Phone number for credit counseling services

B. How many different ways the finance charges can be calculated and assessed.

C. How much interest will be paid of only minimum payments are made.

D. Minimum payment warning, payment amount, and due date.

+3

Answers (2)

Know the Answer?

Kristian Hays · Answer 1

How much interest is will be paid if only minimum payments are made.

Explanation:

Financial Literacy

Elliott Huffman · Answer 2

D. Minimum payment warning, payment amount, and due date.

Explanation:

The Credit card accountability, responsibility and the disclosure act of 2009 state that credit card issuers should now disclose almost everything except the D. option, and which is Minimum payment warning, payment amount and the due date. All the other options mention the information that can be disclosed according to the disclosure act of 2009. And this has been done to lessen the manipulation of the lower age cardholders, and let all know fees related to credit cards.