Balance Transfer actually cash advance? - HSBC

[Anonymous]

Hi guys,

I just got a balance transfer offer from my HSBC Cash Rewards card. 0% APR for the next 12 months. They sent me a letter that has two tear-away checks on the bottom. Right next to the first one it says: "Write a check to make a purchase or for cash. Checks must post by February 29, 2020." Next to the other one it says "Transfer balances online at us.hsbc.com".

I called the customer support to clarify how to use them. Let say I wanna pay down my Amex bill. Do I just make out the check to Amex and include my credit card number? I asked the rep if I can just make it out to myself, deposit it into my checking account and then pay my Amex from there and I was told that if I do that it will count as a cash advance at my regular rate and not a BT at the promo rate. Is that correct? Has anyone ever heard of it?

Thank you all.

[Jnbmom]

I don't know if thats a "HBSC" thing, but normally when you get blank checks you can directly deposit them to your bank account and it is considered the BT terms.

Maybe someone with knowledge of HSBC may know.

[Anonymous]

Thanks Jnbmom. That's what I thought. Maybe a trip to the branch might clarify things. A banker might either confirm what the rep said or correct their mistake.

Thank you!!

[tcbofade]

Been there, done that.  The rep was mistaken.  It's a balance transfer...even if you write the check to yourself.  

[Shooting-For-800]

Just make the check out to yourself if there is nothing saying you can't.

Then pay your bills like normal.

No, it is not a cash advance; it is a "balance transfer" regardless of whom the check is made out to.

VERIFY with your bank, I have never had any issues with my banks.

[Anonymous]

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@Anonymous wrote:

Thanks Jnbmom. That's what I thought. Maybe a trip to the branch might clarify things. A banker might either confirm what the rep said or correct their mistake.

Thank you!!

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Get a positive confirmation before doing so. You don't want surprises.