Quoted:
Joe_Blacke Given your payment patterns; If I were you I would take them up on their offer though a call to customer service might be in order to make sure paying off the auto qualifies for the low interest rate.
THISISME
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Drew,
I've checked. There is NO restriction to where I spend the money, except the following:
-I cannot exceed my available credit.
-I cannot transfer balances to this account from another credit card that has been issued by this bank.
THAT IS IT!
Their quote on the letter is, "you can even deposit your Personalized Check into your bank account and use the cash for anything you choose." As far as I can see, if I use this option, they have no idea that I'm paying off my truck loan.
Of course, it says that if I default I may be subjected to their current rate for balance transfers. I'm not worried about that, though.
Right now, I just can't see any reason why I shouldn't do this.