# AGR Chase Credit Card Checks



## saxman (Jul 27, 2011)

Anyone else get these checks from Chase Bank? I'm always getting checks for my other credit cards, but never specifically for AGR points. I usually just shred them. The deal is if you write the checks and spend at $1,500 on them you'll get 3000 bonus AGR points. The catch is though, that for each check you write, there is a $5 or 3% fee (whichever is higher). It says you can even write a check to yourself, so I was thinking about just writing myself a check for $1500 and then just paying the card off right away. Except they'll take 3% away.

So essentially I'm paying $45 for 3,000 AGR points. Worth it??


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## the_traveler (Jul 27, 2011)

I was not aware of that. But even if you write a check to yourself, there is no guarantee that the bank will process it on the very day you write it and then cash it! And the interest (which is a higher rate) continues to accrue until the full balance is paid in full! And you can't pay more than your current balance.

Say your card closing date is 7/28, and the check for $1,500 is processed on 7/29. You pay off the $1,500 on 7/29 (because you can not pay more than the current balance due). However interest will accrue on that $1,500 (at a *VERY* high %) from 7/29 at least 8/28 (when you can find out how much interest you owe




) and then the following month also!

I would (as I always do) put them in the "shred" file!


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## saxman (Jul 27, 2011)

the_traveler said:


> Say your card closing date is 7/28, and the check for $1,500 is processed on 7/29. You pay off the $1,500 on 7/29 (because you can not pay more than the current balance due). However interest will accrue on that $1,500 (at a *VERY* high %) from 7/29 at least 8/28 (when you can find out how much interest you owe
> 
> 
> 
> ) and then the following month also!


The interest rate is a "promotional" 3.99%.


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## Bob Dylan (Jul 27, 2011)

saxman said:


> Anyone else get these checks from Chase Bank? I'm always getting checks for my other credit cards, but never specifically for AGR points. I usually just shred them. The deal is if you write the checks and spend at $1,500 on them you'll get 3000 bonus AGR points. The catch is though, that for each check you write, there is a $5 or 3% fee (whichever is higher). It says you can even write a check to yourself, so I was thinking about just writing myself a check for $1500 and then just paying the card off right away. Except they'll take 3% away.
> 
> So essentially I'm paying $45 for 3,000 AGR points. Worth it??


I get these all the time Chris (from Chase and CapOne), but this is the first ones Ive seen offering AGR Bonus Points! Did it say the interest rate was 0% for x amount of months or the Regular rate on your card?? If it's just the 3% fee, 3,000 points for $45 is a good deal! Otherwise I'd do what Dave does, hit the shredder!!

Note: Ddidnt see your post re the 3.99% interest rate, depending on your Daily Average Balance it may, or may not be a good deal?? If you have zero balance it's a good deal if you pay it off in full soon as you get your statement!


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## Dovecote (Jul 27, 2011)

saxman said:


> Anyone else get these checks from Chase Bank? I'm always getting checks for my other credit cards, but never specifically for AGR points. I usually just shred them. The deal is if you write the checks and spend at $1,500 on them you'll get 3000 bonus AGR points. The catch is though, that for each check you write, there is a $5 or 3% fee (whichever is higher). It says you can even write a check to yourself, so I was thinking about just writing myself a check for $1500 and then just paying the card off right away. Except they'll take 3% away.
> 
> So essentially I'm paying $45 for 3,000 AGR points. Worth it??


I received the checks a few days ago. After a few minutes of thought they went into the shredder. Maybe I shredded them in haste as I did not give it as much thought as you did. :huh:


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## the_traveler (Jul 28, 2011)

If I open an envelope from a credit card company and I see "convenience checks", those go directly (if not sooner) into the shredder.

BTW: Normally I don't usually read them, but I thought I just saw that the fee is going up to IIRC 10% or $10 (I forget which).


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## abcnews (Jul 28, 2011)

Don't just disregard these checks... I once received a offering from Chase that was rather good. It was about 6 years ago. Anyway, at that time they offered a 3.99 % rate with a small fee. It may have been 3 % up front. I used it to buy a car - it came from Enterprise and was an exceptional value ($17,000 - 6 months old with 11,000 miles and looked brand new). I purchased the car, I drove it for about 4 years for my work and I actually put about 150,000 miles on it. Then I sold it for $4,500 (about two years ago). I never spent a dime on any problems - it was a 2007 Chevrolet Impala with a very good warranty from GM - that transferred to me. But had I financed it through GM it would have been 5.5 % or maybe higher, since it was considered a used car. Plus the checks gave me the confidence to negotiate - since I knew that I had a substantial credit limit on that account. I knew I did not have to scramble to find financing if they accepted my offer. I considered it a cash offer - since I was paying for it in full in a simple transaction.

Anyway - it is important to note, I did have to make every single payment on time, in order to keep the 3.99 rate. And the initial payments were a bit high - since the minimum is based on a percentage of the balance. I think I just simply paid $500 a month until it was a zero balance. Also - if you accidentally use the same card for any purchases - those new purchases get paid off last (and at a much higher rate). So be careful to put the card out of reach - and just work to pay off the balance.

In my case I used it for good use. I needed a new car that looked good and was reliable, but at the time did not want to spend $25K or $27K on a new car for my work. I am self employed and I drive about 30,000 miles per year.


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