Question by bama1362000: How do banks go about accepting credit card checks for a loan payment?
Will they take a credit card check for a loan payment?
I am going about selling something and the person wants to pay with a credit card check. It’s not my own credit card check. I just want to make sure they will accept it.
I am going about selling something and the person wants to pay with a credit card check. It’s not my own credit card check. I just want to make sure they will accept it.
Best answer:
Answer by Age of Reason
Sure. They do not care it is costing 30% interest to pay down a 6% loan
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sure they love those checks.
don’t do it. you are better off not making loan payment.
YOU can pay your loan any way you can the banks don’t care its you who will have a high interest rate but if that is the only you can pay it this month then do it. Also if you cant make a loan payment for a month if you call the bank and you have always been on time they will defer it and add it to the end of your loan. hope this helps .
If the loan and the credit card were issued by the same bank, e.g., you used a Wells Fargo credit-card check to pay on a Wells Fargo car loan, then the answer is probably no. I don’t know any credit-card issuer that would accept its own credit-card checks for payment on anything. You always have the option of depositing the credit-card check in your bank account, then issuing a personal check to pay on the loan.