Question

the higher interest rate of a cash advance on a credit card with an existing balance can be eliminated by paying the cash advance back within four weeks.

please select the best answer from the choices provided

t
f

Explanation:

Analyze cash advance terms

Using the Cash Advance Interest knowledge point

A cash advance on a credit card does not have a grace period. Unlike standard purchases, interest begins accruing immediately on the transaction date. Paying it back within four weeks does not eliminate or avoid the higher interest rate or the accrued interest. Therefore, the statement is false.

Answer:

• T
• F (Correct answer)