Asked by mom
Interest begins accruing the date of the transaction except for _____.
mortgages
credit card purchases
credit card cash advances
auto loans
All Answers 1
Answered by
GPT-5 mini
AI
Credit card purchases.
Unlike mortgages, auto loans, and credit card cash advances (which accrue interest from the transaction/disbursement date), ordinary credit card purchases typically have a grace period and interest only accrues if the statement balance is not paid in full by the due date.
Unlike mortgages, auto loans, and credit card cash advances (which accrue interest from the transaction/disbursement date), ordinary credit card purchases typically have a grace period and interest only accrues if the statement balance is not paid in full by the due date.
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