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  • From: EarthNSky <erthnsky AT bellsouth.net>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] Credit Crunch??
  • Date: Fri, 03 Oct 2008 13:26:26 -0400

Careful Lynn.
I did that once..learned my lesson that.
Those checks are treated like a cash advance and may be financed at a higher rate than your normal card rate.
When I used one, I thought I was writing the check at 11%, but it turned out that it was charged at 21%. Just check before you write the check.

Bev

Lynn Wigglesworth wrote:
All this talk about a credit crunch got me wondering. I called my credit card company (Chase) yesterday, and asked about the Convenience Checks they are always sending me...are they still good? Will they honor them?

They not only honor them, but offered to raise my credit line so I could borrow more, and to have the money instantly deposited in my checking account. Hmmm...I'm unemployed and have a pathetically low income...one look would show that I couldn't afford to pay it back, yet they would be happy to loan me whatever I want. Credit crunch? What credit crunch? Have these banks learned nothing?

Lynn Wigglesworth



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erthnsky AT bellsouth.net





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