The penalty APR is a measure of the number of credit card users that pay only the minimum each month.

Name: The penalty APR is a measure of the number of credit card users that pay only the minimum each month.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The penalty APR is a higher interest rate that may be applied to a credit card account if the cardholder fails to make payments on time. It is not directly related to the number of users who pay only the minimum each month.

The Penalty APR Is a Measure of the Number of Credit