Question

Interest begins accruing the date of the transaction except for _____.

auto loans

mortgages

credit card cash advances

credit card purchases

Answer 1

Credit card cash advances

Answer 2

Credit card cash advances is the answer.

Explanation:

Interest begins accruing the date of the transaction except for credit card cash advances.

A credit card cash advance is an advance on ones credit card. Here a person borrows the money against his credit card and he has to pay it back with interest. The money can be withdrawn from ATM or at ones bank counter. A cash advance fee is charged every time a person uses his credit card to withdraw money.