Posted by Mark (SDCA) on April 06, 1999 at 19:05:02:
THis is correct. Many credit cards charge a % of the cash advance as a “surcharge”. I have lines of credit through American Express (Centurion Bank) and BankOne. For me at least, they don’t charge a surcharge.
Also, you should verify that they don’t charge you for using the convenience checks. Many banks do.
Pros & Cons of credit card - Posted by D.Henderson
Posted by D.Henderson on April 06, 1999 at 10:23:20:
I have talked to some investors that when they first get started and do not have quick money, they use a credit card for Lonnie deals to down payments. Any input? Good or bad idea? If it is a good idea which card is best? Money talks but is it a bad business idea?
Thank you to all on the board, you have made my business life much easier! 
D.Henderson
Re: Pros & Cons of credit card - Posted by Bert G
Posted by Bert G on April 06, 1999 at 10:36:57:
Pros: Fast cash. If promptly repaid, it helps your credit rating. (Some say you have to spread the payments over at least six months before appears on your report).
Cons: Expensive. You pay the highest interest, plus cash advance surcharge. Needless to say, if you overdo it and can’t pay promptly, you’re up the proverbial pool of pollution.
BG
Re: Pros & Cons of credit card - Posted by Mark (SDCA)
Posted by Mark (SDCA) on April 06, 1999 at 10:58:31:
I agree with all this.
Personally, I like using credit cards/line of credit for purchases. I have lines of credit set up which have no surcharges. The interest is fairly high (on the order of 12%) but I have found that I will do a lot more to get that interest paid off than I will to put savings a way to invest. So it works well for me.
Re: Pros & Cons of credit card - Posted by D.Henderson
Posted by D.Henderson on April 06, 1999 at 13:09:41:
Surcharge, I’m not familiar with this. Which cards? Are you using a company card? Airline miles? Which? I saw one on TV- 3% for 6 months then fixed 9%. Anyone have this one?
Thank you Bert and Mark for posting.
D.Henderson
Surcharge on cash advances… - Posted by Dean (IL)
Posted by Dean (IL) on April 06, 1999 at 14:57:56:
My credit card charges a percentage of the amount I need for a cash advance (up to $50 I think). But, even to avoid that I could write a convenience check from the credit card company made out to my wife, have her deposit it into our joint account, and I’ve got my cash for offers anyway.