Credit card cheques outlawed as part of govt crackdown

CC cheques have their uses (stoozing for one ) when the fees and interest rates are low, eg 0%. Shouldn't the restrictions be geared towards companies who use cheques against you, rather than to provide additional benefits? E.g.

• ban the sending of unsolicited cheques (take away temptation)
• ban the addition of cheque-specific fees (prevent provider abuse)
• force providers to allocate at least a proportion of repayments to expensive debt (promote more responsible lending and debt management)
• Print the fees clearly on each cheque so you know exactly what it costs when you sign it (inform the user of the consequences)

Best news I have heard for ages! I really hate the way credit card companies keep sending these things out in the post, even where (like me) you have requested that they do not :mad:

As well as having the potential to trap unwary / inexperienced / young customers, they are also I think an open invitation for fraud and identity theft - it must be common knowledge that credit card statements contain these things (sent by ordinary post), and it just seems so open to thieves and fraudsters to take advantage. Not casting any aspersions on postal workers here - what about shared accommodation / student halls / blocks of flats where post arrives communally/ incorrect delivery / situations where people have moved and not told the CC companies / mistakes at the companies that result in letters being sent to incorrect addresses - the possibilities of these things falling into the wrong hands are almost endless.

Yay, no need to keep shredding Capital One's cheques they keep sending me!

never-in-doubt wrote: »

wonder when the government will wipe my ars? Well, it seems they are slowly but surely dictating our lives to us! If I don't want credit card cheques, you know what, i'll ask the CC provider to cease or i'll bin them!

I don't need any government to tell me how to live my life and the sooner we kick this pile of rubbish Labour into the trash where they belong the better!

I've never read such garbage in years, well not since I read that Man Utd were the best team in Europe, but that was on April 1st! How on earth can the government appoint an advocate - jees! Before long most Brits will be abroad and Britain will become a haven for the terrorists....

Go for it Gordon - ruin the country why don't you!

Exactly - more legislation for the stupid. Surely you don't have to be particularly well educated to realise you shouldn't spend what you don't have?

If however our education system does not teach people such basics then perhaps the money should be spent on schools and adult education and not on this load of b0llocks. Once taught, people can then make their own decision on whether or not to use CC cheques or other forms or credit.

Personally I manage quite well and would prefer not to have further government interference.

As an aside, I also understand that there is a world of difference between those who have always managed their money sensibly (and through no fault of their own e.g. redundancy have now found themselves in debt) and those who bizarrely feel that they can borrow and borrow (on every form of credit imaginable) and who have no plan or apparent realisation that it will have to be paid back at some time.


Is it me...?

never-in-doubt wrote: »

wonder when the government will wipe my ars? Well, it seems they are slowly but surely dictating our lives to us! If I don't want credit card cheques, you know what, i'll ask the CC provider to cease or i'll bin them!

I don't need any government to tell me how to live my life and the sooner we kick this pile of rubbish Labour into the trash where they belong the better!

Not sure I could have put it better myself. :T