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Valued Contributor
p-
Posts: 2,521
Registered: ‎06-05-2008

Cap 1 rewards with convenience checks

Do you know if Capital One awards reward points when convenience checks are used?

  2-13-14: FICO EXP: 779 - EQU: 742 - TRAN: 765 - AVG: 762 - +212 points from JUN 2008 - MY CREDIT JOURNAL

Valued Contributor
trumpet-205
Posts: 1,944
Registered: ‎11-11-2010

Re: Cap 1 rewards with convenience checks

No. Any form of check does not yield rewards.

In My Wallet:
Citi Forward (12/2010) | Citi TY Preferred (05/2011) | BofA Travel Rewards (07/2011) | Chase Freedom (11/2011)
GECRB/PayPal (05/2012) | Discover it (07/2012) | US Bank Cash+ (08/2012) | AMEX BCE (09/2012)
Target (10/2012) | Chase Ink Classic (11/2012) | BofA Balance Rewards (04/2013) | FNBO/Overstock (02/2014)
Valued Contributor
p-
Posts: 2,521
Registered: ‎06-05-2008

Re: Cap 1 rewards with convenience checks

Thought so; thanks.

  2-13-14: FICO EXP: 779 - EQU: 742 - TRAN: 765 - AVG: 762 - +212 points from JUN 2008 - MY CREDIT JOURNAL

Established Contributor
Jlu
Posts: 532
Registered: ‎06-12-2012

Re: Cap 1 rewards with convenience checks

Convenience checks should be used to keep your shredder in proper working order by feeding them to it.

Wallet: JP Morgan Select Visa Signature $10k | Chase Sapphire Preferred $7k | Citi ThankYou Premier Visa Signature $5700 | AMEX Premier Rewards Gold Card | Barclaycard Visa $5k | Discover IT $10k | Chase Freedom Visa $3k | Capital One Quicksilver $3k | Bank of America Cash Rewards Visa Signature $8k | Walmart Store $5k | Amazon Store $10k | Chase Total Checking |
Valued Contributor
p-
Posts: 2,521
Registered: ‎06-05-2008

Re: Cap 1 rewards with convenience checks


Jlu wrote:

Convenience checks should be used to keep your shredder in proper working order by feeding them to it.


Usually, yes, except I have an unexpected 3k tuition expense.  I've had a couple of hard hits to savings this year, and I don't want to hit it again.  This means I'll be using credit.  The checks are 2% fee, with 0% for a year.  As I do not have any 0% credit cards, the 60 dollar fee is cheaper than two months of interest.  I could app for a new 0% card, but I'm gardening.  It's worth the 60 bucks not to have another inquiry.


If I were to take 6 months to pay it off, I would pay the amortized equivalent of a 6.85% loan.  Since none of my credit cards have an interest rate that low, it's still a better deal.  If something happened and I took the full 12 months, the effective amortized rate would be even lower.

If they gave me 1% back, it would cut the fee in half.  I didn't think they would, but it's still a better deal than the other options.

Thanks for the feedback.

  2-13-14: FICO EXP: 779 - EQU: 742 - TRAN: 765 - AVG: 762 - +212 points from JUN 2008 - MY CREDIT JOURNAL

Valued Contributor
p-
Posts: 2,521
Registered: ‎06-05-2008

Re: Cap 1 rewards with convenience checks

Of course, I am open to suggestions - If anyone has an idea how I can get 3k cheaper without an inquiry I would love to hear about it.

  2-13-14: FICO EXP: 779 - EQU: 742 - TRAN: 765 - AVG: 762 - +212 points from JUN 2008 - MY CREDIT JOURNAL


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