Respuesta :
Answer;
D Minimum payment fee
Explanation;
-A credit card is a payment card issued to users to enable the cardholder to pay a merchant for goods and services based on the cardholder's promise to the card issuer to pay them for the amounts so paid plus the other agreed charges.
-A business credit card is a credit card intended for use by a business rather than for an individual's personal use. Business credit cards are available to businesses of all sizes. They can help businesses build a credit profile to improve future credit borrowing terms.
Option C is correct.
The balance transfer fee is not a common credit card fee.
Further Explanation:
Credit card:
Generally, Credit card is issued by financial institutes such as banks. Credit card refers to a plastic card which allows the cardholders to borrow the funds from the respective bank and spend the funds as per their requirements.
A credit card can be used for the purchase of goods and services. Generally, a credit card has a specific limit. It is known as a line of credit (LOC). The cardholder can withdraw or use the funds up to the LOC. The cardholder has to pay the amount which is borrowed along with interest on the borrowed funds after a specific period of time, which is defined and stated at the time of issuing the credit card.
Non-common credit card fee:
Balance transfer fee:
The balance transfer fee is the fee that is charged at the time of moving the debt from one credit card account to another credit card account. Generally, the balance transfer fee is charged up to 5% of the debt transferred. When the cardholder wishes to transfer the credit funds from one credit card to another credit, then the banker charges a balance transfer fee.
The balance transfer fee is not a common credit card fee as most of the cardholders do not usually transfer debt balance from one credit card account to another credit card account. Cardholders use the funds from the given credit card, and when they feel that they would require another card, they would apply for another card instead of transferring the debt to another account.
Therefore, balance transfer fee is not a common credit card fee.
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Answer details:
Grade: Senior School
Subject: Business Studies
Chapter: Money and Banking
Keywords: Credit card, Charges, Credit card charges, Credit card Company, Bank, Financial institute, Common credit card fee, late fee, Annual membership fee, Balance transfer fee, Minimum payment fee.
