Which Of The Following Statements Is Not True Of Cash Advances?

(Correct Answer Below)

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.
Front

Advertisement

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

About the flashcard:

This flashcard is meant to be used for studying, quizzing and learning new information. Many scouting web questions are common questions that are typically seen in the classroom, for homework or on quizzes and tests. Flashcards vary depending on the topic, questions and age group. The cards are meant to be seen as a digital flashcard as they appear double sided, or rather hide the answer giving you the opportunity to think about the question at hand and answer it in your head or on a sheet before revealing the correct answer to yourself or studying partner. Some questions will include multiple choice options to show you the options involved and other questions will just have the questions and corrects answers. Simply reveal the answer when you are ready to check your work. Absolutely no cheating is acceptable.