Tell me why this is a bad idea a free 300

Pay yourself through PayPal. It might be cheaper than the cash advance fee

I’m not talking about a blank check, but someone on Reddit said they got 30k through an Amex personal loan with 0% interest for 6 months. If they cut OP a blank check, it definitely sounds like a subprime lender

The credit card will report maxed out every month and may freak out your other creditors who might cut your limits or close your accounts because they think you’re about to default. That risk is not worth $300

@Dolph
I agree. I’ve used those checks with my 25k limit credit card. Keeping it at 30 or 40% usage shouldn’t alarm anyone

I got a 15k limit 0% card from Chase Freedom Flex. I put all my expenses on that card for a year and pocketed the money in a HYSA. Then I pay off the card at the end of the year. Make sure to make minimum payments

Are you talking about a cash advance? Those start accruing interest immediately and often have low limits

I got those constantly. Read the fine print. In short, it’s too much hassle for too little money. If you miss any terms even for a day, you’ll face major charges. So I avoid them or we would all be rich already

The 5% transfer fee will eat up all your gains unless your card has 3% and you’re putting it in something that earns more. I just did a 6 month CD at about 5%. You’d make $410.11 but pay $240 in fees, so your actual profit would be $170

JPST 6.82% in September 2025. If you have 0% on purchases, it can be useful. My family is floating about $80,000 on 8 credit cards at 0%

Never use one of those checks. The fine print is all you need to know. There are always fees for using them. I remember asking my dad about it once, and he said those checks are basically a scam with strings attached. Now I just shred them

Never trust those cash advance checks. They’ll find a way to nickel and dime you. The reason why only credit card purchases get 0% APR is because they still make money off merchants you use the card with. In this case, they wouldn’t give you free money for a year without some catch like a fee

You can arbitrage it by front-loading spending instead of writing a check

Thanks for your approach. The average consumer’s ignorance on falling for schemes like this is what funds my endless interest-free cashback rewards

Which credit card provider? If this were AMEX, I would consider it. Only think about it if you’re responsible with your finances

Channing said:
Which credit card provider? If this were AMEX, I would consider it. Only think about it if you’re responsible with your finances

I’ve never heard of AMEX sending blank checks. Seems like a subprime lender

Channing said:
Which credit card provider? If this were AMEX, I would consider it. Only think about it if you’re responsible with your finances

Citibank and Bank of America regularly send me checks. Citibank has higher fees and shorter 0% interest periods. Bank of America has a much better offer with 3% for 12+ months