What advice might you give to Jerome?
Jerome has three major credit cards and makes payments on them each month. He has had one of them for six years, another for three years, and the last for eleven months. Making just the minimum payment has become automatic at this point, and Jerome barely even looks at the statements. Jerome is beginning to think that his approach to credit may be faulty, and he wants to find out how to adjust it. He just applied for two additional credit cards.
A) Keep making timely, minimum payments.
B) Get a cash advance to pay down the balances on the cards.
C) Consider using savings to pay off current credit card debt.
D) All of this advice would be helpful to Jerome.
Answer: C
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