Use credit card convenience checks with caution. Many card issuers send convenience checks to encourage cardholders to transfer balances from other cards or loans to their card or to use to make purchases. In exchange, they may offer low interest rates—some even with 0% for a set period of time.
Before using the checks, look for the fine print in the card application that says something like "convenience checks will be charged to your account as cash advances to be repaid under the terms of the account." This is a tip-off that other charges are involved. Read your cardholder agreement—or call customer service—to make sure you understand all the costs before you use the checks.
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