3. Cash advances on bank credit cards Aa Aa Another use of bank credit cards, in addition to purchasing goods and services, is to obtain a cash advance from participating banks. A cash advance is a loan and immediately puts cash in one's pocket-either by using the card at a participating bank or by using the convenience checks received from the card issuer when obtaining the card. Obtaining Cash in a Hurry Kevin is parked outside his bank and needs cash today. His standard checking account balance is sufficient to provide the cash, and he plans to deposit the paycheck he'll receive in a few days to his checking account. Kevin also has a credit card whose terms allow him to obtain a cash advance. What would be the wisest way for Kevin to get the cash he needs today? O Withdraw the cash from his checking account O Take a cash advance on his credit card Whichever way is quicker Why is this the wisest way to get the cash he needs? O There is no interest charged when he takes his own money out of his checking account, but he would be charged interest beginning immediately if he took a cash advance. O Either way; he won't be charged interest, so it doesn't matter. O There is interest charged on a cash withdrawal from his checking account, but if he took a cash advance, as ong as his next credit card payment pays his entire balance due, he won't be charged interest for the cash advance