Answer Seeker
Contributor

Offer Received From USAA:

You can save on interest when you transfer high-rate balances to your USAA Visa® credit card account ending in XXXX.

 

Get a promotional rate of 0% APR until November 30, 2019 on balance transfers and convenience checks that post to your account between July 1, 2018 and August 15, 2018.

 

After November 30, 2019, your APR on these balances will be 14.65%. This APR will vary with the market based on the Prime Rate. Each balance transfer and convenience check has a transaction fee of just 3% or $200, whichever is less. If you transfer a balance or write a convenience check with this offer, all purchases will be charged interest until you pay the entire balance in full, including any transferred/convenience check balances. After that, you will have a grace period on purchases when you pay your entire statement balance each month by the payment due date.

 

Question:

Convenience Checks are classified as Cash Advances. Since, the Online cash advance has no fee and the physical convenience check has a 3% fee can I utilize the online cash advance fee free for the 0% interest offer?

7 REPLIES

@Answer Seeker, thank you for reaching out to us regarding the offer you received. Your offer is specific to balance transfers and convenience checks. An online cash advance would not be included in the promotional rate. I hope this helps. Please don't hesitate to let us know if you have further questions or concerns. - Rhonda

Great Thanks. What is the maximum amount allowed for a convenience check based on current credit limit for the account. 

 

For example the account has a limit of $100 in total.

 

Could I write a convenience check for $100?  Or would the number have to be lower, say $95?

 

Thanks for your help thus far.

@Answer Seeker, I'm happy to help with any questions your have. A convenience check can be written for up to your available credit at the time the check is received for processing. Thank you. - Rhonda

Thanks again. I have another question. When writing a convenience check should the convenience fees be factored into the credit limit?

 

Example:

Based on the current offer of 3% fee or $200 whichever is less.

 

Lets say I have a $10,000 Credit limit and decide to write a check for the full credit limit.

Would I write a check for $10,000 or would I need to write a check for $9,800 because the $200 will need to be factored into the fees?

Hello and thank you for your follow-up credit card question. The convenience check fee should be factored and subtracted from your credit limit when writing a convenience check. If you have a credit limit of $10,000 you would want to write the check for $9,800 to allow for the $200 convenience check fee. Please let me know if I can be of further assistance and have a great morning!

Let's say for example out of 10k credit limit, I took out 8800 from my account as a cash advance on this offer and later make regular purchase of 1000. Now after the statement closes if I make a payment on this card, will the money be paid towards the cash advance with is 0% APR or towards the regular purchase of 1000 dollars which has regular APR. 

 

Thanks in advance. 

@gbuddha, Great question! According to the USAA Credit Card Agreement, we may apply apply minimum payments and other credits other than payments in any order we deem appropriate; amounts paid in excess of a minimum payment are applied to the balance with the highest APR. Hope this information is helpful! ~ Samantha