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Sorry to jump into a 3 day old thread, but...

IIRC, A balance transfer check is NOT a check. It is an instrument you submit back to the ISSUING company to get them to pay off your balance on a different issuer's CREDIT CARD. I highly doubt they would honor your request to pay off something other than another CC using this check.

OTOH, you would probably be able to use a Cash Advance check for such a transaction, but there are almost always fees for using them, and interest generally accrues on these from the day you use them.


Depends on the company. For example, Capital One recently offered a deal for Balance transfers OR cash advances at 3.9% for a year, no fee for either. Not bad, I'm taking advanatge of it.

As for Rayvt's comments about payments being applied to the higher balances first: true, but that's why I don't charge anything else on the card or cards that I use for balance transfers and the like. Instead, I use one credit card for all new charges, and that card offers me cash back (actually, it's a Shell card, I get 1% credit towards on all purchases towards shell gas and 5% credit when I buy gas using the card. Works out to a steep discount on my gasoline, and it's not like I'm about to stop driving). Anyway, I pay that card off in full every month, so no interest. And I have a strict budget on new charges.

Always read the fine print. There are some good deals out there, but a lot of hidden fees. The CC board is a better source for these types of discussions.

-synchronicity
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