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Valued Contributor
Posts: 2,658
Registered: ‎06-05-2008
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Cap 1 rewards with convenience checks

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

3-26-15: FICO EXP: 814 - EQU:813 - TRAN: 809 - AVG: 812 +262 points from JUN 2008 - MY CREDIT JOURNAL

Valued Contributor
Posts: 2,505
Registered: ‎11-11-2010
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Re: Cap 1 rewards with convenience checks

No. Any form of check does not yield rewards.

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Valued Contributor
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Registered: ‎06-05-2008
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Re: Cap 1 rewards with convenience checks

Thought so; thanks.

3-26-15: FICO EXP: 814 - EQU:813 - TRAN: 809 - AVG: 812 +262 points from JUN 2008 - MY CREDIT JOURNAL

Established Contributor
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Registered: ‎06-12-2012
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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.

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Valued Contributor
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Registered: ‎06-05-2008
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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.

3-26-15: FICO EXP: 814 - EQU:813 - TRAN: 809 - AVG: 812 +262 points from JUN 2008 - MY CREDIT JOURNAL

Valued Contributor
Posts: 2,658
Registered: ‎06-05-2008
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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.

3-26-15: FICO EXP: 814 - EQU:813 - TRAN: 809 - AVG: 812 +262 points from JUN 2008 - MY CREDIT JOURNAL

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