Asked by Prabha Karki on May 20, 2024
Verified
Rollo has a credit card from Shopping Cards Inc. To change the terms, Shopping Cards must
A) impose double-cycle billing.
B) give Rollo advance notice.
C) send monthly bills twenty-one days before the change.
D) increase the interest rate only retroactively.
Advance Notice
Notification given in advance to inform someone about an upcoming event or action they need to prepare for or be aware of.
Double-Cycle Billing
A method some credit card companies used to calculate finance charges using the average daily balance of the current and previous billing cycles, often leading to higher charges for the cardholder.
- Discern the national laws associated with credit and consumer security.
Verified Answer
TR
Tanya RaglandMay 23, 2024
Final Answer :
B
Explanation :
Credit card companies are required to give customers advance notice before changing the terms of their account, allowing customers time to understand and react to the changes.
Learning Objectives
- Discern the national laws associated with credit and consumer security.