Answer:
True.
Explanation:
A credit card can be defined as a small rectangular-shaped plastic card issued by a financial institution to its customers, which typically allows them to purchase goods and services on credit based on the agreement that the amount would be paid later with an agreed upon interest rate.
A 0% interest credit card refers to a credit card that has no interest charged on it for a specific period of time, usually between twelve (12) and twenty-one (21) months.
Thus, a credit card holder with a 0% interest won't have to pay interest on any purchase for the duration of the incentive.
However, the 0% interest card holder is still required to make monthly minimum payments and must be made promptly.
Hence, if you make a late payment on a 0% interest card, you're responsible for paying the entire interest from the time you opened the card.
