Credit cards with very low minimum payment requirements are in the consumers' best interest.

Question

Quizplus · Accepted Answer

Credit cards with very low minimum payment requirements may seem like a good option for consumers, as it allows them to make smaller payments each month. However, in the long run, it can end up costing the consumer much more in interest and fees. The larger the minimum payment required, the quicker the consumer can pay off their balance and avoid accruing large amounts of interest. Therefore, credit cards with higher minimum payment requirements are typically in the consumers' best interest.

Credit Cards with Very Low Minimum Payment Requirements Are in the Consumers