When a consumer makes minimum payment on a card, this is vital as it helps in avoiding the payment of late fees.
- The credit card is issued by a bank and it's usually used in making purchases or for cash advances. A cash advance is when a person takes a loan and then agrees to pay the loan at a later date.
- In such cases, it is important for the person to make the least minimum payment and this is done every month till when the person pays up. The reason for this is to avoid paying late fees by the borrower.
- Making minimum payments on a credit card does not mean that the person can pay off the balance quicker or lessen the total amount owed.
In conclusion, the correct option is A.
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