By Ben Luthi
It's not every day that you get a blank check in the mail, but when you do, think twice before filling it out. Credit card companies often send out these "convenience checks" tied to your credit card account to encourage you to spend more. But should you use them?
How convenience checks work
When you need to make a purchase, fill in the blank check with the amount, and sign it. When the merchant cashes your check, the amount is charged to your credit card.
Some banks allow you to request convenience checks, but they mostly show up unannounced. You may get several checks on one card account and never receive any on others; it's all up to the banks.
Convenience checks often offer a 0% APR promotion lasting 6-18 months. You can use the check to pay off another credit card, buy something or just deposit it in your checking account. Situations where doing this would make sense include:
- You want to pay off ...
from MoneyTips https://www.moneytips.com/should-you-cash-that-convenience-check
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