Monday, March 15, 2010

Credit Card “Convenience” Checks

Source: FDIC Consumer News

Blank Checks from Your Credit Card Issuer Carry Risks and Costs

Those blank "convenience checks" from your credit card company offer a quick way to write yourself a loan, pay bills or transfer other loans to your credit card account. But be aware that the use of a convenience check is a "cash advance" that comes with high costs and other potential pitfalls.

Read more.

1 comment:

  1. I only used one of these convenience checks once as cash dough to fund a $5,000 business related transaction. I made all the efforts to pay it right back on by the end of the 30 days billing cycle.

    Be cautious!


    Adrian C