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But after I hung up I got to thinking. I do have a debt. My home mortgage. And by coincidence my principal balance is very close to what my credit card limit is. The 4 month (or it might even been for as long as 6 months) low low rate to entice me back into credit card debt is substantially lower than my mortgage rate...and after the low rate expires the fixed rate is still a smidgen below my mortgage interest.

I can't think of anything to keep me from using those "convenience checks" to pay off my mortgage. But there's got to be something wrong here. I inherently don't trust FUSA. But I can't think of a reason not to do this. What am I missing?

For one thing, the fixed rate on a mortgage actually is fixed. If you saw the story on Nightline the other night you'll notice that First USA has a much different definition of fixed than you or I. They can raise it at anytime just by giving you notice that they are going to do it. Plus, you would lose the deductibility of your mortgage interest. My advice is to stay where you are and forget about dealing with First USA anymore.

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