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.
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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.
ReplyDeleteBe cautious!
Cheers,
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Adrian C
http://financialfreedom-adrian.blogspot.com/