How do BT checks work?

[frogfan12]

I received some BT checks in the mail and I was wondering how to use them (it's been nearly 5 years since I last used one). Do you just go to your bank and write a check for whatever amount to transfer that amount? 

[improvingmycredit]

Hey Frogfan12!  The BT checks work just like any check you write from a bank.  The only difference is that it comes off your available credit instead of you bank account.  The checks can be written to you for deposit or cash or you can write them directly to your creditors you wish to pay off.  Each CCC has different ways to handle the checks and BT offers so be sure to read all the small print for example:  transaction fees, APR and terms of the BT, treated like a cash advance with immediate interest and fees....etc.

Hope this helps!

[Creditaddict]

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@frogfan12 wrote:

I received some BT checks in the mail and I was wondering how to use them (it's been nearly 5 years since I last used one). Do you just go to your bank and write a check for whatever amount to transfer that amount? 

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What Bank and Credit Card are they tied to?

What is the offer?

What would you like to pay?

Most these days will let you cash them to your own checking but a couple banks still consider cashing to yoruself as cash advance vs. a BT offer. but I can probably tell you when you answer above ?'s

[Anonymous]

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@Creditaddict wrote:

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@frogfan12 wrote:

I received some BT checks in the mail and I was wondering how to use them (it's been nearly 5 years since I last used one). Do you just go to your bank and write a check for whatever amount to transfer that amount? 

---

What Bank and Credit Card are they tied to?

What is the offer?

What would you like to pay?

Most these days will let you cash them to your own checking but a couple banks still consider cashing to yoruself as cash advance vs. a BT offer. but I can probably tell you when you answer above ?'s

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A very good point... although, I think it could be more than a "few" banks these days. OP, remember to read the fine print!

[MarineVietVet]

This is just my experience with those checks sent to me by Cap 1 and an attempt to deposit with Wells Fargo.

WF would not accept those. I had to get a single paper check directly from Cap 1 payable to me before I could deposit it. This was quite awhile ago and I have since only used direct deposit for BT's so I don't know if WF still has that policy.

And as always YMMV.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

Don't for get the transaction fee, usually 3-5 percent, added to the total. In my experience you can deposit these checks directly into your account by writing the check to yourself.  Simply fill in your name and the amount, sign it, and deposit it into your account. Or you can send them directly to the creditor you wish to pay