Q. Banks fix separate cash limit and overallspending limit for each credit card. What is the disadvantage in withdrawing cash on credit cards? (Solved)
1. Cash withdrawn means the credit balance is reduced
2. An amount is charged by the bank as cash withdrawal fees
3. Cash withdrawal fees together with tax is charged to the card holder
4. Less time is given for payment as compared to other debits for purchases
5. None of these
- c. Cash withdrawal fees together with tax is charged to the card holder