MSE News: Credit card cheques terminated by MBNA

Former_MSE_Guy

This is the discussion thread for the following MSE News Story:

"The move follows a Government clamp down last year in which it announced a ban on unsolicited card cheques ..."

Read the full story:
Credit card cheques terminated by MBNA

molerat

A few less visits to the shredder then.

JimmyTheWig

There's no point in MBNA in issuing credit card cheques when you ask for them as they can do a "super balance transfer" into your current account straight away. You can then write your own cheque if you need to.
Seems little point in MBNA paying for two mechanisms to do the same thing.

molerat

So not so much because Big Brother Nanny Brown told them to but a good business decision.

JimmyTheWig

molerat wrote: »

So not so much because Big Brother Nanny Brown told them to but a good business decision.

Well, a bit of both.

It is profitable for a company to send out _unsolicited_ credit card cheques. For the exact same reason as the government wants to ban the practice.
So if they've got to stop that then they may as well stop the whole thing.

rsykes2000

Glad to hear this. They used to send me these damn things every couple of months. Just shredded them.

~Brock~

Whether you are pleased to see the back of these cheques or not, the fact remains that your choice in the matter no longer exists.

udydudy

~Brock~ wrote: »

Whether you are pleased to see the back of these cheques or not, the fact remains that your choice in the matter no longer exists.

The choice still exists only that it will not come unsolicited. if I am not wrong one can call ask for a promotional deal and then ask for cheques to be sent.

sorry had not read the mainarticle.bad if they stop solicited cheques as well.....

Fruit_and_Nut_Case

I just received some today with my statement. I was about to shred them but maybe now I'll save them for their historical value.

jay87

I have always received good offers via credit card cheques such as 0.9% Balance transfers on my executive club MBNA card and fairly long term 0% terms on BTs so would be a shame not to receive them, but I guess I can just call up to receive those offers if I needed to transfer a balance, so i'm not too fussed. Feel sorry for those with extortionate APR cheques though.

chattychappy

My fee for transfers to a current account has been 4% for a while now whereas for cheques they still charge me 3%.

I've never really minded the unsolicited cheques from time to time, though I suppose they are not really very secure.

Anyway I'd certainly like the choice to receive them... this nanny state thing is getting a bit too much - if this indeed is the trigger.