i have a 300 line of credit and cash access line of 60 bucks.
on top of the check it says "use the check attached below to access your available credit" what? i use the check not the card?
2006-11-27 08:42:58 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
They want you to be indebted to them for life so they can make money off the interest charges and fees on your account. Credit cards should only be used for emergency situations.( NO,BLOWING ALL YOUR FUNDS to go out and get a PS3 or WI doesn't qualify as an emergency )
2006-11-27 08:54:41 · answer #1 · answered by S.A.M. Gunner 7212 6 · 1⤊ 0⤋
You can write a check and it will come out of your credit card. Usually with a nice, hefty fee attatched. It'll probably be cheaper just to use the card straight. Cash Advances also come at a higher APR (and that 'check' is really a cash advance.)
Repeat after me:
Credit card companies are not my friend.
Credit card companies are not my friend.
Credit card companies are not my friend.
Anytime it seems like they're doing you a favor -- particularly if they -tell- you they're doing you a favor -- and you haven't asked for one -- look for the hidden fees.
2006-11-27 08:46:31 · answer #2 · answered by dancinghawk_wolf 2 · 1⤊ 0⤋
Warning..warning...warning.. Will Robinson!
My advice.... tear it off and burn it!!
It usually called Super Checks.
The amount you write and spend using this checks will come out from your credit card limits but with hefty percentage rate. It is similar to getting cash out of your credit cards. Check your cash out rate with Chase and you'll see you'll be paying at least 20%-30% than your regular credit card charges.
It's a ploy and lure you to cash out and spend with hefty rate.
2006-11-27 09:10:46 · answer #3 · answered by click-it! 2 · 1⤊ 0⤋
they want you to use the check, it count as a cash withdrawl against the credit card. Higher int rate for payback.
2006-11-27 08:51:45 · answer #4 · answered by David B 3 · 1⤊ 0⤋
The check is to transfer money to this credit card
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http://www.bestcreditrates.net
2006-11-27 11:09:14 · answer #5 · answered by Anonymous · 0⤊ 0⤋