Credit card cheques to be banned
Discussion
I never saw the point in them anyway personally. I assume all the places which have stopped accepting personal cheques don't accept these either, whereas cards work pretty much anywhere.
Also means I'll stop getting letters from my CC company enclosing the cheques when I haven't asked for them.
Agree with the sentiment about the government being ban-happy though.
Also means I'll stop getting letters from my CC company enclosing the cheques when I haven't asked for them.
Agree with the sentiment about the government being ban-happy though.
Slightly skew reporting here methinks.
Barclaycard send me some periodically which always have a 10-12mth interest free period, and a 2% handling fee - so it often works out cheaper than putting it on the card itself if one doesn't intend on paying the balance in full each month.
Not quite the big evil they're making it out to be.
In any event, it's not like you can't throw the things away when the arrive. Is there really a need to legislate against people's inability to add up?
Barclaycard send me some periodically which always have a 10-12mth interest free period, and a 2% handling fee - so it often works out cheaper than putting it on the card itself if one doesn't intend on paying the balance in full each month.
Not quite the big evil they're making it out to be.
In any event, it's not like you can't throw the things away when the arrive. Is there really a need to legislate against people's inability to add up?
Dunk76 said:
In any event, it's not like you can't throw the things away when the arrive. Is there really a need to legislate against people's inability to add up?
Indeed. Regardless of whether they are a good thing or not, it's the underlying premise that people are unable to run their lives themselves and that the State must do it for them by banning this, legislating that, 'forcing' the other. Always negative words that seek to further curtail individual freedom.
With freedom comes responsibility, of course. And this government seeks to remove both.
It's got nothing to do with whether Credit Card cheques are a good thing or not.
Dunk76 said:
Barclaycard send me some periodically which always have a 10-12mth interest free period, and a 2% handling fee - so it often works out cheaper than putting it on the card itself if one doesn't intend on paying the balance in full each month.
Before interest rates dropped through the floor myself and another colleague at work would max out our cards with these and just put the money in a high interest account. Usually work out making a couple of hundred quid. Although I can appreciate the fraud risk if the cheques go missing, this is another case of legislation for the lowest denominator. As long as I can still move money directly into a current account I'm not too fussed, but it's the prinicpal of the thing!I have no problem with this.
I used to get them all of the time from my credit card company. I got fed up with shredding them so phoned up them up and asked them to cease sending these cheques - the guy in the call centre told me that was not possible.
I sent them a letter informing them, that any further credit card cheques would be treated as unsolicited junk mail and would be placed in the recycling bin unshredded. As such I would not be liable if any were cashed - surprisingly enough I haven't received any since...
I used to get them all of the time from my credit card company. I got fed up with shredding them so phoned up them up and asked them to cease sending these cheques - the guy in the call centre told me that was not possible.
I sent them a letter informing them, that any further credit card cheques would be treated as unsolicited junk mail and would be placed in the recycling bin unshredded. As such I would not be liable if any were cashed - surprisingly enough I haven't received any since...
JonRB said:
We must be seen to be doing something.This is something.
We must do this.
The sensible response would be to educate people about credit (why isn't this a couple of hour long lessons at school?)
Dunk76 said:
In any event, it's not like you can't throw the things away when the arrive. Is there really a need to legislate against people's inability to add up?
Indeed - nicely put.jesusbuiltmycar said:
I have no problem with this.
I used to get them all of the time from my credit card company. I got fed up with shredding them so phoned up them up and asked them to cease sending these cheques - the guy in the call centre told me that was not possible.
I sent them a letter informing them, that any further credit card cheques would be treated as unsolicited junk mail and would be placed in the recycling bin unshredded. As such I would not be liable if any were cashed - surprisingly enough I haven't received any since...
Half a sheet of A4, twice a year or so. Hardly much of a trauma.I used to get them all of the time from my credit card company. I got fed up with shredding them so phoned up them up and asked them to cease sending these cheques - the guy in the call centre told me that was not possible.
I sent them a letter informing them, that any further credit card cheques would be treated as unsolicited junk mail and would be placed in the recycling bin unshredded. As such I would not be liable if any were cashed - surprisingly enough I haven't received any since...
oyster said:
jesusbuiltmycar said:
I have no problem with this.
I used to get them all of the time from my credit card company. I got fed up with shredding them so phoned up them up and asked them to cease sending these cheques - the guy in the call centre told me that was not possible.
I sent them a letter informing them, that any further credit card cheques would be treated as unsolicited junk mail and would be placed in the recycling bin unshredded. As such I would not be liable if any were cashed - surprisingly enough I haven't received any since...
Half a sheet of A4, twice a year or so. Hardly much of a trauma.I used to get them all of the time from my credit card company. I got fed up with shredding them so phoned up them up and asked them to cease sending these cheques - the guy in the call centre told me that was not possible.
I sent them a letter informing them, that any further credit card cheques would be treated as unsolicited junk mail and would be placed in the recycling bin unshredded. As such I would not be liable if any were cashed - surprisingly enough I haven't received any since...
I for one rather like them - sometimes! Always good for business to take out a £10k loan on Barclaycard for around 4% APR. What's wrong with that? If you can handle it, should be no problem.
Having said that, I DO have a problem with MBNA - who suddenly hiked their interest rate from 13.9% to 34.9% (a
holeS). How can they justify that - had a card for 10 years, never late paying, never over limit - unbelievable!
Obviously I'll not be using MBNA for anything ever again...
Having said that, I DO have a problem with MBNA - who suddenly hiked their interest rate from 13.9% to 34.9% (a
holeS). How can they justify that - had a card for 10 years, never late paying, never over limit - unbelievable!Obviously I'll not be using MBNA for anything ever again...
anonymous said:
[redacted]
What are you saying there then? Next you will be wanting them to stop people being responsible for their own stupid mistakes. From there on its a slippery slope into allowing free houses and meals for those that cannot find work or get a mortgage due to having 4 or 5 children born out of wedlock. Oh!
The Black Flash said:
I love the irony of the government acting to try to stop people getting into debt. 
How are the national finances at the moment? And your party funding, how many million in the red you say? Hey, why not go out and by a new car on credit, we'll give you a discount.
Yeah, very much a do as we say, not as we do policy! How are the national finances at the moment? And your party funding, how many million in the red you say? Hey, why not go out and by a new car on credit, we'll give you a discount.Cpn Jack Spanner said:
I for one rather like them - sometimes! Always good for business to take out a £10k loan on Barclaycard for around 4% APR. What's wrong with that? If you can handle it, should be no problem.
Yes you can handle it but for those with a small brain they just think great free money as they are stupidIf have no idea how stupid people are buy the daily star and look at the loan rates in the back of that the highest i see is 150% APR
Sadly some people need saving from themselves
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