Warning About Discover Cash Checks
Consumers who are carrying Discover Cash Checks must make sure that they are not becoming spendthrift in their ways. Most Discover customers who have applied for the company’s credit cards receive offers from it periodically. Personally, I don’t use my only Discover credit card for frequent purchases everyday. Nonetheless, Discover sends me many types of offers by U.S. mail regularly.
Young consumers who are doing business with Discover must remained warned about its possibly beneficial Cash Checks program. The Discover Cash Checks program allows customers of this lender to retrieve physical money from credit cards issued by it. Checks cashed from the Discover Cash Checks can be costly since they can produce fees of either $10 or 5% of the amount of transactions they are used for. So, if you had $10,000 loaded on a Discover credit card and wrote a check of $2,000 to a business partner, you would pay a fee of $100 notwithstanding its interest charge. Don’t ignore the “APR for Cash Advances including Check Transactions” when planning to write a check via the Discover Cash Checks program. This is because an APR arising from the Discover Cash Checks service can exceed 23%. The more frugal you are with your Discover credit card, the lower your chances of incurring high debts. Don’t forget that the minimum payment made on a Discover credit card exceeds $39 dollars.
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