Multiple choice technology platforms and products

For Revolving products the customer is expected to payback the whole close balance by due date.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Revolving credit products allow customers to carry a balance forward by making only a minimum payment. Unlike charge cards, revolving products do not require full repayment of the closing balance by the due date. Customers can pay interest on the remaining balance and continue using the credit line.

Keep practicing — related questions