Our new No Hassle Cap1 lines came with a BT form and convenience checks. The accompanying docus request that you don't use the checks for paying a BT, but only use the enclosed forms. Anyone know why? Do they pay more for getting the checks processed or something? I'd rather use a check, as then I'm not at the mercy of the BT processing service's timetable. But I'd like future line increases and good treaetment from Cap1, and since others have said they're very profit senstive, perhaps there is a potential issue here...? TIA for any info.
I'm no expert here (in fact this is my first post-- welcome to newbies?) but I have a strong suspicion that there's a huge difference between the balance transfer form and the courtesy checks. I'm pretty sure if you use the courtesy checks, it will appear on your statement as a cash advance-- you'll pay fees and a very high interest rate. IMO, courtesy checks are more a scam than a courtesy. Perhaps someone else will confirm this? But if I were you I'd check the small print in your agreements concerning courtesy checks before doing anything.
cpac, welcome to the board and thanks for the reply! Generally speaking you'd be absolutely right-"convenience" checks are a major scam. But with Cap1's no hassle card, there are no fees and the rate is the same as purchases. The issue here is why they say they want this done one way rather than another. Thanks, Dave
I'm guessing it's to keep their costs down. They can do the BT electronically for pennies as opposed to processing your check via the Federal Reserve. Just a guess......
