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With all the posts the past few months about Chase closing accounts or changing the terms of the Freedom card, I had been expecting a letter. I have the Freedom Plus card which has not been affected yet with any reduction in rewards, at least I haven't heard of anyone losing the ability to earn 3% in their top 6 categories yet. However, I was still expecting this to come to an end sooner or later.
With these thoughts in mind I was expecting the worst when I opened my letter today and was fully prepared to take AA against them. I was quite surprised to find 4 checks, 2 orange and 2 blue along with a letter.
The letter said "Use these checks to:
Make home renovations
Cover educational expenses
Purchase home furnishings
Plan a weekend away
Transfer high rate balances
Take care of unexpected expenses
The orange checks have a 0% APR until 6/2010
The blue checks have a 2.99% APR until 12/2010
Have to decide which of the offers to accept and the checks have to post by 10/31.
I don't need to use them but perhaps it is a sign of things starting to loosen up a bit.
That's awesome! We got the same letter as well. ours if 0% APR for 12 billing cycles for the orange check and 2.99% APR for 24 billing cycles for the blue checks. The checks have to be posted by 10/19/09.
Prior to this one we got a set of 3 checks where the 1st and 2nd checks are 0% APR until our May 2010 statement opening date and the 3rd check is 2.99% APR until our February 2011 statement opening date. We haven't used these checks yet. We have until October 1st to take advantage of these ones. Side note: We have the Chase Rewards card and on these 3 checks it stated that we wouldn't earn rewards.
However, e took advantage of the 0% APR for 12 billing cycles just last week-- Yeah!! Transferred $3,000.00. The balance transfer fee was 3%. We're still coming out ahead.
I'm curious to find out if we would earn rewards for this check, as the check didn't say an
ything about not earning rewards.
@Anonymous wrote:That's awesome! We got the same letter as well. ours if 0% APR for 12 billing cycles for the orange check and 2.99% APR for 24 billing cycles for the blue checks. The checks have to be posted by 10/19/09.
Prior to this one we got a set of 3 checks where the 1st and 2nd checks are 0% APR until our May 2010 statement opening date and the 3rd check is 2.99% APR until our February 2011 statement opening date. We haven't used these checks yet. We have until October 1st to take advantage of these ones. Side note: We have the Chase Rewards card and on these 3 checks it stated that we wouldn't earn rewards.
However, e took advantage of the 0% APR for 12 billing cycles just last week-- Yeah!! Transferred $3,000.00. The balance transfer fee was 3%. We're still coming out ahead.
I'm curious to find out if we would earn rewards for this check, as the check didn't say an
ything about not earning rewards.
Message Edited by runner4 on 09-11-2009 07:26 PM
No, you don't receive rewards when using the cash advance/ bt checks.
@Anonymous wrote:That's awesome! We got the same letter as well. ours if 0% APR for 12 billing cycles for the orange check and 2.99% APR for 24 billing cycles for the blue checks. The checks have to be posted by 10/19/09.
Prior to this one we got a set of 3 checks where the 1st and 2nd checks are 0% APR until our May 2010 statement opening date and the 3rd check is 2.99% APR until our February 2011 statement opening date. We haven't used these checks yet. We have until October 1st to take advantage of these ones. Side note: We have the Chase Rewards card and on these 3 checks it stated that we wouldn't earn rewards.
However, e took advantage of the 0% APR for 12 billing cycles just last week-- Yeah!! Transferred $3,000.00. The balance transfer fee was 3%. We're still coming out ahead.
I'm curious to find out if we would earn rewards for this check, as the check didn't say an
ything about not earning rewards.
Message Edited by runner4 on 09-11-2009 07:26 PM
I have never used checks such as these. We have a Chase, and I think we may have gotten the same checks. I know we just got a pad of checks from Discover.
Are these type of checks normally considered to be for BTs...or for anything?
Also, if a person deposits them into a checking account, isn't this considered a cash advance? I've read here about people depositing these checks, and I've never understood why it may not be a cash advance.
BT or Charging or Cash Advance or Convince Checks, they are all one form of Credit extended to you at a particular APR. So you charge your credit card using one of those method and pay.
I have used the Convenience check from Wamu when I wanted to buy a LCD TV. Circuit City did not accept the wamu check saying that it does not appear real, they were going out of business at that time and probably they did not want to take any risk.
So I deposited the check in my checking account and used my check card to purchase it latter.