Convenience Cheque: Canada Debt .ca defines Convenience Cheque

Bankruptcy Term Convenience Cheque

<<< Back

Canada Debt has the definition to the bankruptcy and debt term Convenience Cheque. Finding answers to terms such as Convenience Cheque can be difficult, especially if there is more than one definition which is why we have created a page dedicated to financial terms dealing exclusively with debt. Convenience Cheque in financial terms means...

In debt and bankruptcy terms, the phrase / term 'Convenience Cheque' is used as follows:

A cheque provided by the credit card issuer and drawn on your credit card account. You can use a convenience cheque the same way you would a personal cheque. When you use a convenience cheque, the transaction is treated as a cash advance for the purposes of calculating interest charges - there is no interest-free period and you're charged interest until you pay back the amount of the cheque in full.