10. Which of the following statements is TRUE? a. Assume that Josie has had this credit card for a year. The A.P.R. on her card will remain the same as long as she has the card. b. If Josie misses a payment during the Introductory Period, her late payment fee will be waived for this period since she is a new customer. c. Assume that Josie only uses her credit card to make purchases. She pays the balance on her credit card in full and on time every month. As a result, she pays no interest to the credit card company. d. Josie pays an annual fee to use this credit card.

A credit card is a credit facility provided to the customers by a bank to make payments. Josie is required to pay an annual fee for its usage.

What is a Credit Card?

It is a plastic card issued usually by a bank, which facilitates its customers in making payments without having the actual money in the bank account, but the amount needs to be paid back to the bank on the due date.

The credit card companies charge a nominal annual fee for their maintenance. so option (d) an annual fee payment done by Josie for using the credit card is True.

Therefore, option d is true in regard to Credit Card.

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