Credit Card Convenience Checks


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Research » Guides » Cardholder Benefits » Credit Card Convenience Checks

Credit Card Convenience Checks

Updated: May 28, 2019

The content is accurate at the time of publication and is subject to change.

Convenience checks tied to a person's credit card account are not somewhy that widely discussed as fees, rates, rewards and various tips of a smart card use. Meanwhile convenience checks are nothing more than just a hidden form of hefty charges imposed on a cardholder straight after cashing it.

So, when next time you receive a mail and find a convenience check with a good amount of money on it, remember about three key factors that can turn your desire of using the easy money into a big headache.

If you have ever taken out a credit card cash advance, the idea of a convenience check is getting clearer for you. Convenience check looks like an ordinary check and contains a certain dollar amount that will be withdrawn from your account once you decide to cash it.

A convenience check that may be filled up with such enticing and provocative sums as $300, $500 and even $1,000 may be a driving force for impulsive shoppers to go on a spending fee, but don't let it take you into deep trouble.

Stop and think of the following traps that a convenience check has prepared for a credit cardholder addicted to spending and strapped for cash.

Convenience can be pricy. A credit cad convenience check allows you to make a big purchase or use it as a balance transfer but you will have to fork out for the privilege. Do not imagine that you can spend this "instant money" and avoid paying charges on it.

You begin accumulating credit card interest rates of up to 20% as soon as you cash the check. The interest is usually accompanied with a flat fee of 2% to 5% of the check amount.

You won't find any information on the interest charges right in the credit card statement. To know the exact figures you will have to dig into the fine print of the credit cardholder agreement or contact the card provider.

Also, beware of the provider's policy of allocating your monthly bill payments. The general policy to use the payment to cover lower interest balances in the first place may keep you accumulating finance charges on the convenience check balance for quite a long time.

Convenience is not protected. Remember a purchase protection plan available on almost any credit card account? When the merchandise bought with a plastic appears faulty, you can request the company to return you your money and remove the purchase from your statement.

It is impossible to fix up with a convenience check. In this case the check operates like your own cash irrevocably gone to the merchant.

High cost and low protection would already be enough to stop a smart cardholder from cashing the check, but there is one more thing.

Convenience provokes crime. Crooks are on their lookout when it comes to a cardholder using a convenience check. Being freely sent by mail and requiring no signature verification, the check can be picked up and used for cashing, going shopping or opening a new credit card account.

Credit card fraud is very often associated with and a frequent result of convenience check using.

Cost. No protection. Fraud. Think no less than 3 times before you cash the alluring dollar amount on the insidious convenience check!

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

Top 5 Cards for Travel from Our Partners: Winter 2019-2020 – Expert’s Choice

Top 5 Cards for Travel from Our Partners: Winter 2019-2020 – Expert’s Choice

Posted: December 17, 2018

Nights are still drawing out, the wind is cold, and the air smells like snow already – the winter is here. Christmas and holiday season are approaching swiftly, and overwhelming gift ideas are swirling chaotically in your mind. Continue reading

Cash Back or Travel Rewards? Here’s How to Decide On The Right Card

Cash Back or Travel Rewards? Here’s How to Decide On The Right Card

Posted: November 27, 2018

If you’re trying to find the perfect rewards credit card, you might feel like you’re drowning in options. There are just so many out there, and many of them look similar. This can make it tough to decide on a card. One thing people often… Continue reading

How Do Balance Transfers Work?

How Do Balance Transfers Work?

Posted: November 27, 2018

Paying too much in credit card interest is not fun and you will definitely want to look for a way that will help you avoid paying credit card interest while paying off your debt. A balance transfer is that money-saving option to help you…. Continue reading

You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!