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Valued Contributor
Posts: 1,673
Registered: ‎11-11-2012

Capital One convenience checks

I was about to throw away some checks I received from Cap One, when I noticed some text I don't recall seeing before:


"Special Notice to customers who pay their entire balance in full each month" and it talks about the usual grace period on purchases.  I thought it would go on to say that the cash advance portion would have no grace period (but since that's a 0% charge, doesn't make much difference!)   But what it says:

"Please note that if you take this offer, you will lose your grace period.  If you transfer a balance to this account, you will begin paying interest on all new purchases, even if you pay your purchase balance in full each month.  To avoid paying interest on your purchases, you must pay both your transferred balance and your purchase balance in full"


Is this normal?  In the distant past, I seem to remember cards would separate the cash advance and purchase sections, so you would indeed pay interest straight away on the cash advance but purchases would stay as normal.  I guess 0% offers may have changed that.

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