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Are credit card cheques illegal?

uptomyeyeballs
uptomyeyeballs Posts: 575 Forumite
in Credit cards
Is it illegal for credit card providers to send you a letter with credit card cheques in for balance transfers? I thought I read it somewhere.

I got a letter from Halifax yesterday of this type. I don't have any balances to transfer, and my Halifax Visa balance is zero too, so it's irrelevant to me.
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Comments

  • immoral_angeluk
    immoral_angeluk Posts: 24,506 Forumite
    10,000 Posts Combo Breaker
    No, why would it be?
    Total 'Failed Business' Debt £29,043
    Que sera, sera. <3
  • uptomyeyeballs
    uptomyeyeballs Posts: 575 Forumite
    immoral_angeluk wrote: »
    No, why would it be?

    Just thought i'd read it had been outlawed. Must have been mistaken. :)
  • sizzler
    sizzler Posts: 5,094 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    No plenty of companys send out these cheques. A lot of people use them and dont read the termas and conditions properly and get stung:eek:
  • davetrousers
    davetrousers Posts: 5,862 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Interesting, there certainly was some uproar a few years ago about Credit Card cheques.
    .....

  • twist-and-shout
    twist-and-shout Posts: 122 Forumite
    MBNA have stopped sending out these cheques as from 01/04/2010. They are being phased out completly by other companies though.
  • Danny_G
    Danny_G Posts: 719 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    uptomyeyeballs wrote: »
    Is it illegal for credit card providers to send you a letter with credit card cheques in for balance transfers? I thought I read it somewhere.

    I got a letter from Halifax yesterday of this type. I don't have any balances to transfer, and my Halifax Visa balance is zero too, so it's irrelevant to me.

    No offence, but this is kind of a dumb question

    How can the be illegal? if the 'credit card companies' are the one which send them out?
    No Unapproved or Personal links in signatures please - FT3
  • HouseHuntr
    HouseHuntr Posts: 522 Forumite
    uptomyeyeballs wrote: »
    Is it illegal for credit card providers to send you a letter with credit card cheques in for balance transfers? I thought I read it somewhere.

    I got a letter from Halifax yesterday of this type. I don't have any balances to transfer, and my Halifax Visa balance is zero too, so it's irrelevant to me.

    If they were illegal they wouldn't send them out !
  • usedandabused
    usedandabused Posts: 466 Forumite
    Danny_G wrote: »
    No offence, but this is kind of a dumb question

    How can the be illegal? if the 'credit card companies' are the one which send them out?


    no question is dumb, did your teachers never tell you that?

    anyway i think the OP may have read things such as these:
    http://news.bbc.co.uk/1/hi/business/8129555.stm

    to quote the BBC ''Credit card cheques to be banned''
    http://news.bbc.co.uk/1/hi/business/8129855.stm

    and assumed it was illegal
    She LEFT me, she LIED, and she made me foot the BILL ! :mad:
  • usedandabused
    usedandabused Posts: 466 Forumite
    twist-and-shout wrote: »
    MBNA have stopped sending out these cheques as from 01/04/2010. They are being phased out completly by other companies though.



    and i wonder why they are phasing them out :p


    http://www.which.co.uk/news/2009/03/credit-card-cheques-to-be-banned-172027
    She LEFT me, she LIED, and she made me foot the BILL ! :mad:
  • never-in-doubt
    never-in-doubt Posts: 20,613 Forumite
    Yes with the new rules that are soon to be brought in, CC companies will no longer issue them willy-nilly anymore..... not illegal, but would a breach of regulated FSA requirements, unless it was OFT (think it may have been) that suggested it....

    Its all linked into this thing that Martin is foghting for, i.e. paying off high APR's before the 0% ones etc, making the minimum payments more accessible etc etc

    It is not illegal though, criminal law and banks work hand in hand - hahahaha
    :o 2010 - year of the troll :o

    Niddy - Over & Out :wave:
This discussion has been closed.
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