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Got my letter from Chase today!

Regular Contributor

Got my letter from Chase today!

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.

Message Edited by hemi961 on 09-08-2009 05:14 PM
Message 1 of 16
15 REPLIES
Frequent Contributor

Re: Got my letter from Chase today!

What is the BT fee?  A previous poster mentioned that Discover now has a 5% BT fee.
I want PATIENCE...and I want it NOW
Message 2 of 16
Regular Contributor

Re: Got my letter from Chase today!

It remained the same, 3%.
Message 3 of 16
Established Contributor

Re: Got my letter from Chase today!

I got that letter over the summer - twice - but didn't take Chase up on it.  If I get it again, I probably will transfer a couple of balances.  I think the 3.99% offer is a pretty good deal. 
pattycake's FICOs: 6/2/10 - TU: 708; EX: ???; EQ: 749
Message 4 of 16
Established Contributor

Re: Got my letter from Chase today!

Whoa - the one I got over the summer was 3.99% until Oct 2010, but today I got the same one you did, 0% until June 2010 or the 2.99%.  I just may take them up on it since the PenFed offer is no longer available. 
pattycake's FICOs: 6/2/10 - TU: 708; EX: ???; EQ: 749
Message 5 of 16
Valued Member

Re: Got my letter from Chase today!

I got this offer today as well. Need to pay off my Chase balance first, then I'm going to consolidate all my balances to my one Chase card @ 2.99% until 12/2010. It's a good offer.
Message 6 of 16
Established Member

Re: Got my letter from Chase today!

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.  

Smiley Happy 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
Message 7 of 16
Established Contributor

Re: Got my letter from Chase today!


runner4 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.  

Smiley Happy 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.

Message 8 of 16
Valued Contributor

Re: Got my letter from Chase today!


runner4 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.  

Smiley Happy 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.

Message 9 of 16
Established Contributor

Re: Got my letter from Chase today!

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. 

Message Edited by voidman on 09-13-2009 10:58 AM
-void
Message 10 of 16