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re: Writing a check against a credit card account - is there a catch?
Posted on 9/15/17 at 12:44 pm to cave canem
Posted on 9/15/17 at 12:44 pm to cave canem
My point was that cashing the check and depositing into a CD would take no time at all - probably 15 minutes or less - but even at 2 hours it's over $100 an hour.
2
Posted on 9/15/17 at 12:49 pm to Huey Lewis
I think people are dramatically underestimating the fee that will accompany the check. I wouls assume it is treated as a cash advance which is probably hit with a percentage fee of 3%. Immediately eating up any interest gains. Maybe you get to net zero if you get rewards for it. But usually cash advances are excluded.
Posted on 9/15/17 at 1:00 pm to Huey Lewis
quote:
My point was that cashing the check and depositing into a CD would take no time at all - probably 15 minutes or less - but even at 2 hours it's over $100 an hour.
Bet you $200 it does not work out that way.
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