Question
How can I get a convenience check for $5,000?
I am in a bind. I will be getting divorce settlement money in january, but need the $5,000 to put down on a mobile home this month, since we have to sell our home due to the divorce. Ex used to do all the banking, so this is all new to me. I have nothing in savings and cannot get a loan b/c I make too little at my job. Can't find a co-signer either b/c everyone else is short on funds too these days. I have heard of convenience checks offered by credit cards. I have called several and they say they are no longer offering them. Geez Louise! What can I do to find a company that still offers them? I know they are not the best way to get a loan, but I also KNOW that I will be able to pay it off in just a month or two, so I'm not too concerned about the interest rate. Problem is, I just need the cash NOW.
4 weeks ago - 1 answers
Best Answer
Chosen by Asker
You have to already have the credit card account. My credit cards send out those convenience checks with my monthly statements. A brand new credit card may not offer convenience checks. By the way, using those convenience checks is a cash advance and subject to a fee of 3% to 5%. They also start accruing interest immediately and at the higher cash advance rate. Not a good way to take out a loan.
Source(s)
BD
by bdancer222
4 weeks ago
Asker's Rating: 