2007-11-20 22:38:24 · 5 answers · asked by shannapye 1 in Business & Finance ➔ Personal Finance
Yeah, it's called a convenience check and you are normally charged a 3% transfer fee.
Why anyone would state cash advance when every bank now provides you with convenience checks is beyond me. Cash advances are at 25%+ interest.
2007-11-21 00:19:16 · answer #1 · answered by Legend 4 · 1⤊ 0⤋
You want to transfer a credit card balance (debt you owe) to a checking account?? Only by taking a cash advance on the credit card.
2016-05-24 21:09:05 · answer #2 · answered by ? 3 · 0⤊ 0⤋
It is possible, if the credit card is held at the same financial institution as is your checking account, and you have signed up for online banking access. I have such a situation with Chase/JP Morgan. I don't use that feature, but I see that it is available to me online, should I ever desire to.
2007-11-20 22:42:59 · answer #3 · answered by acermill 7 · 0⤊ 0⤋
It's called a cash advance but the interest rates are usually very high. There are very few instances a person should do this.
2007-11-21 02:09:55 · answer #4 · answered by KathyS 7 · 0⤊ 0⤋
Yes, but the interest on cash advances is MURDER, and I would NOT consider it.
2007-11-20 22:42:08 · answer #5 · answered by WC 7 · 0⤊ 0⤋