Flooded with convenience checks

[too-much-time]

It would appear, in my case anyway, that not using a credit card much brings about regularly offered convenience checks to generate some business. They sound almost too good to be true. Is it because the credit card company thinks you may not be able to pay off the check by the time the promotion period is up?

But if you can, is there any other potential catch? Given a zero percent APR and a one-time transaction rate that's not far from inflation, it seems such a convenience check is practically a free loan. It certainly beats those towering interest rates known from carrying a balance on your credit card.

[john398]

whats the transaction rate? Just curious...

[SwampSystems]

Chase absolutely floods me with convenience checks, and I use them when I need them. They're usually 12-month 0% balance transfer offers with a 1-2% fee.

They really are a great thing. The only thing you have to watch out for is that you can no longer use the card once you cash a check, because any purchases will then immediately accrue interest without a grace period since you are carrying a balance month to month.