President's Choice Financial MasterCard sent me three convenience cheques and said that:
With your President's Choice Financial MasterCard! Get an annual interest rate of 4.7% until your convenience cheque balance is paid in full!
My question:
1. If I did not have money on this MasterCard, can I use this convenience cheques to pay pills or buy goods? How will the bank of President's Choice Financial MasterCard charge me?
2. annual interest rate of 4.7% means in what situation the bank of President's Choice Financial MasterCard charge me in this rate? If I pay my convenience cheque balance in full within grace period (I don't know if I have this grace period ) there is no interest rate charges me ,right?
3. Do I have any grace period for drawing cheques to pay somethings when I don't have any money on this MasterCard?
4. What is difference between this convenience cheques of MasterCard and regualar cheques of Debit Card(cheque account) ?
2006-06-09
02:32:45
·
3 answers
·
asked by
for2000
3
in
Personal Finance