Which of the following statements is not true of cash advances?

a. Credit card companies offer easy access to cash through ATM s or checks that can be written to yourself and cashed.

b. Credit card companies apply payments to cash advance balances first because the interest is higher.

c. The APR of a cash advance is higher than that of regular credit card purchases.

d. Credit card companies place limits on the amount of cash you can receive through a cash advance.

Question

Social Studies

Nathen

30 September, 11:20

Which of the following statements is not true of cash advances?

a. Credit card companies offer easy access to cash through ATM s or checks that can be written to yourself and cashed.

b. Credit card companies apply payments to cash advance balances first because the interest is higher.

c. The APR of a cash advance is higher than that of regular credit card purchases.

d. Credit card companies place limits on the amount of cash you can receive through a cash advance.

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Answers (1)

Know the Answer?

Patricia Mayo · Answer 1

The correct answer is letter A. The statement that is not true about cash advances is that "Credit card companies offer easy access to cash through ATM s or checks that can be written to yourself and cashed." Security of the accounts should be highly considered and must be taken care of.