Blank Checks from Your Credit Card Issuer does Carry Risks!frenchrobinson1 | March 22, 2010
Those blank “convenience checks” from your credit card company offer a quick way to write yourself a loan, pay bills or transfer other loans to your credit card account. But be aware that the use of a convenience check is a “cash advance” that may comes with high costs and other potential pitfalls.
Always check the balance on your credit card to make sure the “convenience check” will not put your card over the limit. Your credit card company may not honor the check and you will be faced penalies and fees.
Call your credit card company to verify your understanding of there policies on convenience checks before you use the checks. It may be a good idea to call after you have used them to see that they honored the check too. Given the new rules recently your credit card company may have new policies concerning convenience checks.