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coachmiff
Posts: 94
Registered: ‎01-14-2013
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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?

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Wolf3
Posts: 3,198
Registered: ‎01-24-2010
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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.

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coachmiff
Posts: 94
Registered: ‎01-14-2013
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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 Flagship visa 17k Navy Check 15K, Navy Platnium Visa 7K, USAA Am Exp 11.5K, USAA MC Rate Advantage 11.5K, Discover IT 5.5K, PayPal Extras MC 5K, Chase Military Star MC 2.5K, Military Star 5.35k, Wallmart discover 2.5k, Amex bce 6k,Boa cash rewards 5k,Amazon Visa 500

current scores: TU 761 Equifax 773Exp 742
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Wolf3
Posts: 3,198
Registered: ‎01-24-2010
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Re: Convenience checks--purchase apr or cash advance?

What is the purchase APR?

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jumpinjax
Posts: 72
Registered: ‎02-15-2012
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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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