Credit Card Convenience Checks
You have probably received credit card “convenience” checks without requesting them. They may have arrived with your monthly statement. Or maybe they arrived all by themselves before school starts, before Christmas or anytime your credit card issuer wants to generate additional revenue.
And they probably came with an enticing, inviting letter containing a compliment similar to, “Because of your good credit, you deserve these convenience checks.”
Credit card convenience checks are mostly convenient for your credit card company. For card holders, the checks hold more risk than reward. Here are some tips about protecting yourself from the potential negative outcomes of credit card convenience checks:
- Ask your credit card issuer to quit sending them.
- Do not throw them in your trash for someone to find. Shred them.
- Before you use them, say to yourself, “This is debt.”
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