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Discover Convenience Checks

Regular Contributor

Discover Convenience Checks

I need some advice.  I need to pay for something, but I just found out they only take MC and VISA.  Had I known this earlier, I would not have paid off the two cards that they don't take.  Amex and Discover.  GRRR!

 

Anyway....if the terms aren't bad, is it ok to use those checks?  I would pay off the card by May.

 

I am trying to decide if I should go ahead and use the check or just wait until next year.  I'm trying to get certified for something.

 

IF I use the check, which is better.  Deposit it into my account OR write it directly to the company?

 

Thanks!

4/23/08 EX-614 EQ-624 TU-635
5/6/08 EX-660 EQ-628 TU-685
5/12/08 EX-660 EQ-652 TU-685
12/08/08 EX-670 EQ-670 TU-674
Message 1 of 10
9 REPLIES
New Contributor

Re: Discover Convenience Checks

You deposit into your account to pay down your Visa or MC and then use one of those cards.....

Amex Gold, Capital One VentureOne & Platium Cards, AAA BoA Signature Visa, Barclays Airtran & Frontier Airlines Cards, Paypal MC, Best Buy RewardZone Mastercard and Chase Speedway Mastercard....and I FINALLY Welcome to Discover...thank you and have a great day!!!!
EX: 667 (8/6 Amex App) - EQ 700 - TU 697
Message 2 of 10
Frequent Contributor

Re: Discover Convenience Checks

Maybe you'd get a better reply if you shared the terms of your checks? Even at the same creditor, convenience check offers vary.

 

Provided you don't consider the interest/fees bad, I see no reason not to use them. Just keep in mind normally it's like a cash advance in the sense that interest starts to accrue immediately. It's rare to have a grace period on a convenience check transaction.

 

If your checks allow, I would probably make it payable to myself, deposit, and send my own personal check after the card one clears/posts. That way you can verify the check clears and properly posts before you spend the money. If something goes wrong, you would still have the money (if you waited to mail the other check) to immediately pay back the advance and stop things accruing.

 

Sometimes the offer doesn't apply if you write the check out to yourself, or it has different (usually worse) terms and fees -- make sure to read all the fine print, and keeps copies of all of it.

Message 3 of 10
Valued Contributor

Re: Discover Convenience Checks


favre_2_free wrote:

You deposit into your account to pay down your Visa or MC and then use one of those cards.....


Would you say deposit into your account is more like a cash advance from one of the convenience checks? Also would you think Discover would frown on doing this, just curious on this issue with convenience checks and depositing it into your own checking or savings account?


Starting Score: EQ 546 TU 566
Current Score: EQ 693TU 08 729 EX 08 738Need to Garden/New Accounts
Goal Score: 800
Message 4 of 10
New Visitor

Re: Discover Convenience Checks

I don't have the checks with me, but I'll look at them when I get home.  I am hoping I didn't throw them away like I do the others. ;-)

 

I guess my main concern is AA, so I am looking for feedback. 

 

Thanks!

Message 5 of 10
Regular Contributor

Re: Discover Convenience Checks

Just looked at the checks.  They are considered at cash advance with 23.99% APR plus the fee.  Yuck.  I guess the certification can wait.....

4/23/08 EX-614 EQ-624 TU-635
5/6/08 EX-660 EQ-628 TU-685
5/12/08 EX-660 EQ-652 TU-685
12/08/08 EX-670 EQ-670 TU-674
Message 6 of 10
Epic Contributor

Re: Discover Convenience Checks

Does the company except Paypal? you could use your Discover on there and it would be considered a Purchase Vs Cash Advance.

Message 7 of 10
Regular Contributor

Re: Discover Convenience Checks

I doubt it.  They are a non-profit. 

4/23/08 EX-614 EQ-624 TU-635
5/6/08 EX-660 EQ-628 TU-685
5/12/08 EX-660 EQ-652 TU-685
12/08/08 EX-670 EQ-670 TU-674
Message 8 of 10
Epic Contributor

Re: Discover Convenience Checks

go to your online account with discover and click the button Balance Transfer and it will tell you if your account currently has any offers... if it did you could pay your visa the amount you need to charge for your certification.

Message 9 of 10
Highlighted
Regular Contributor

Re: Discover Convenience Checks

Hmmm.  I might explore that.  However, i sucked it up and got a no interest loan from M-O-M. 

I will look at the offer, though.

Thanks for the tip!


Creditaddict wrote:

go to your online account with discover and click the button Balance Transfer and it will tell you if your account currently has any offers... if it did you could pay your visa the amount you need to charge for your certification.


 

4/23/08 EX-614 EQ-624 TU-635
5/6/08 EX-660 EQ-628 TU-685
5/12/08 EX-660 EQ-652 TU-685
12/08/08 EX-670 EQ-670 TU-674
Message 10 of 10