Devon forgets to pay his credit card bill for three months. Which of the following statements is TRUE? *

1. A Late Payment fee will not be charged to his account.
2. A Balance Transfer fee will be charged to his account.
3. His A.P.R. (interest rate) will rise to 30.24% until he pays back the amount he owes.
4. His A.P.R. (interest rate) will rise to 30.24% and stay there until he makes six consecutive minimum payments .