Jeremy frequently uses his credit cards rather than cash to make purchases. He only pays the minimum required payments on his credit cards without paying off the balances. What will be the result of his actions over time?

He will owe more and more in interest to the credit companies.
His balances will accumulate interest which he can spend later.
He will have available credit that will grow from month to month.
His credit card use will save him money by earning him rebates.