credit card cheques report

pin

Looks as they could be on their way out according to a Beeb report:

http://news.bbc.co.uk/1/hi/programmes/moneybox/4473980.stm

BargainHunterCat

It's about time these were banned!
OH & I are sick and tired of getting credit card cheques attached to our statements, we have to be extra careful to dispose of them carefully to avoid fraudulent use too...they are just a huge liability :mad:

CTT_2

BargainHunterCat wrote:

It's about time these were banned!
OH & I are sick and tired of getting credit card cheques attached to our statements, we have to be extra careful to dispose of them carefully to avoid fraudulent use too...they are just a huge liability :mad:

But some people may find them useful. Myself I find them useful with the credit card I hold. The reason being they are fee free and the cheques cost just 9.9 percent on extended credit. To ban them because a few posters may find them a liability is very unfair. We all have choices and if we decide to shred them thats fair enough but still give us a choice. However nanny state seems to spring to mind.

daveboy

I agree that to most they are irritating, but the main issue is the uneducated who enter into an agreement without either reading it, or even having the ability to understand it.

We all have to sign an agreement first, in which the Ts and Cs will detail information on credit card cheques.

If people are too stupid to understand this then tough.

Part of me is beginning to think the UK is becoming a 'protect the thick people' state.

inmypocketnottheirs

I have credit card cheques on my capital one account, and being known to split hairs phoned capital one to ask what I would be charged. Apparently because my cheques have a letter P printed on them, under the Capital One logo, I am not charged a cash handling fee or cash advance rates. Just the normal charges as if a card purchase.

Joe_Bloggs

In many circumstances these cheques may appear to behave like a normal credit card transactions. These cheques do not qualify for section 75 protection of the consumer credit act. The reasons for this are arbitrary in my view if the cheque recipient is also registered to receive payment via the credit card.
These cheques present a postal fraud threat to the card holder who has no idea if they should have received unsolicited cheques or not. If you need cheques and don't care about your consumer rights then request these cheques to be sent. If you don't need these cheques then request that they are not sent.
J_B.