Question

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.
D.
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.

Answer 1

The statement "Credit card companies apply payments to cash advance balances first because the interest is higher" is not necessarily true.

Step-by-step explanation:

Some credit card companies may apply payments to cash advances first, but others apply payments to the balances with the highest interest rate first. It is important to review the terms and conditions of your credit card agreement to determine how payments are applied to different types of balances.