We receive a lot of press releases and information from a very wide range of financial companies but an announcement about credit card cheques has just caught my eye.
MBNA has announced that they will stop issuing credit cards cheques from 31st March. Its sad, I know, but that news item has made my day. If you’ve read what I think about credit card cheques then you will realise why.
Every time I have received a monthly credit card statement from MBNA, there has always been a small bundle of those terrible credit card cheques included. MBNA wanted me to be tempted to use them, but instead I have always put them where they belong – straight into the shredder.
This is great news, not just for me, but for those who maybe succumb to the temptation and nip out to buy something nice with them, only to find their true costs later.
MBNA say that they are stopping these cheques in accordance with the new credit card industry standards. Whatever, but the key point is that the days for these unasked for credit card cheques are numbered.
I’m not sure which other card companies issue these cheques (Natwest, do, unfortunately), but I hope they follow MBNA’s example very soon.