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Credit card convenience checks

Regular Contributor

Re: Credit card convenience checks

Pipeguy you had me laughing my ass off when you said trust me that's a realistic price. That comes from experience on either end of the spectrum. Either that's what you do and what you charge, or that's not what you do but what you were charged! One way I feel sorry for you, and the other way happy! LOL.

Yes that's a great example of how if used properly they can benefit you BIG TIME.

That's why I say, I don't believe its correct to just simply tell everybody to rip them up and throw them away, they are a trap and a rip off.

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Message 11 of 12
Regular Contributor

Re: Credit card convenience checks

Plumber101010 wrote:
And if only my question was what are they and is it wise to use them Benmarkley3, than your answer would have been appropriate. But seeing as how that was not my question... even if it was they are not ALL a ripoff

I should amend to say most of the time they are a rip off. Yes every once in a while they give special deals and treat them with a 0% or low % loan. Then they are good. But for most issuers they use them to get you to take out a “cash advance” and interest starts from day one at the higher cash advance rate. So maybe my blanket statement was wrong. But the advise was correct in many instances. For many people they could borrow money from another source at a cheaper rate that makes more financial sense. 

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Message 12 of 12