Question about credit card checks?

Question

If I use a credit card check, does that count as a cash advance? Or, is it different by company?

Answer 1

This is exactly the same thing as a cash advance. You want to avoid them at all costs, for two reasons.

First, they automatically go to the highest interest rate your card is capable of charging.

Second, they start accruing interest immediately, rather than giving you a month to pay of the balance like you would for a normal retail purchase.

Just throw them out.

Answer 2

Generally it is considered a cash advance and is subject to a fee equal to a percentage of the advance. Many cards offer free balance transfer via checks when you first open the account, so you're better off calling the card company and asking.

Answer 3

It's usually the same as a cash advance, unless the credit card company has extended a special offer to you that makes it otherwise.

Answer 4

Yes, it counts as cash advance. But, they can be useful: Sometimes credit card companies offer checks for balance transfers at a lower rate or as a promotion for you to use them. Things to watch out for: Check processing fees can run up to $100 and when the promotional rate runs out, you'll pay a much higher interest rate.

Hope this helps!

Anne

Answer 5

It is the same as a cash advance and you will pay a higher % rate for that portion of your credit card bill.

It is usually the same for all credit card companies.

Answer 6

Usually it's the same as a cash advance

Answer 7

It's the same as a cash advance

Answer 8

Cash advance

Answer 9

cash advance. But if you want to be sure ask your bank.

Answer 10

cash advance