Which of the following statements about minimum payments is INCORRECT?

A. Minimum payments are typically only 2-4% of your total debt
B If you send in the minimum payment, you will be charged a late fee.
C You will still pay interest on your balance if you submit the minimum payment.
D Paying the minimum means you are only paying off a portion of your total debt

The answer is If you send in the minimum payment, you will be charged a late fee.