The Least Amount of Money You Should Pay on or Before Your Due Date

B

The correct answer is B. Minimum payment.

The minimum payment is the smallest amount of money that you are required to pay on or before your due date to keep your account current. This payment is usually calculated as a percentage of your outstanding balance or as a fixed dollar amount, whichever is greater.

Paying only the minimum payment can result in the accrual of high-interest charges and can lead to a long-term increase in the total amount of debt owed. However, it is always important to make at least the minimum payment on time to avoid late fees and penalties.

Interest charges are fees that are added to your balance when you carry a balance on your credit account from month to month. The amount of interest charged is typically calculated as a percentage of the balance owed.

Total payment refers to the entire amount due on your account, including any fees, interest charges, and other charges that may apply.

Monthly fees are charges that may be assessed on your account each month, regardless of whether you make a payment or carry a balance.

In summary, the minimum payment is the least amount of money that you should pay on or before your due date to keep your account current, while interest charges, total payment, and monthly fees are other charges that may apply to your account.