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Convenience checks--purchase apr or cash advance?

Regular Contributor

Convenience checks--purchase apr or cash advance?

Have Navy platnium visa--they charge purchase apr%--charges start when check clears--no additional fee--what you guys and gals have to offer?

Navy Siggy Cash Rewards 25K , Navy plat visa 25k,navy go 25k, Navy Check 15K, , USAA Am Exp 18K, USAA MC Rate Advantage 18K, Discover IT 18.5K, PayPal Extras MC 7.5K, Chase Military Star MC 2.5K, Military Star 8.05k, Wallmart discover 7.5k, Amex bce 25k,Boa cash rewards25k, southwest chase 4k, nasa cr 30k,nasa rew 5k,barc rewards 25k=279k+ scores 750 across the board
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Senior Contributor

Re: Convenience checks--purchase apr or cash advance?

Does it negate the grace period on all other normal purchases if you don't Pay in full by due date?

 

I have some from CITI that do, which makes it a bad deal if you use the card for any other charges.

Message 2 of 5
Regular Contributor

Re: Convenience checks--purchase apr or cash advance?

no it has a seperate billing line on statement---statement has purchase line, balance transfer/convienence checks, and then cash advance line--beautiful thing!

Navy Siggy Cash Rewards 25K , Navy plat visa 25k,navy go 25k, Navy Check 15K, , USAA Am Exp 18K, USAA MC Rate Advantage 18K, Discover IT 18.5K, PayPal Extras MC 7.5K, Chase Military Star MC 2.5K, Military Star 8.05k, Wallmart discover 7.5k, Amex bce 25k,Boa cash rewards25k, southwest chase 4k, nasa cr 30k,nasa rew 5k,barc rewards 25k=279k+ scores 750 across the board
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Senior Contributor

Re: Convenience checks--purchase apr or cash advance?

What is the purchase APR?

Message 4 of 5
New Contributor

Re: Convenience checks--purchase apr or cash advance?


coachmiff wrote:

Have Navy platnium visa--they charge purchase apr%--charges start when check clears--no additional fee--what you guys and gals have to offer?


Just to give you my version of common sense - unless you find an investment that can yield a higher interest rate than the CC, so you can bank the difference, it should be really hard to justify borrowing against the CC in question.  Plus the interest paid on the CC, is not tax deductible. 

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