What the heck are those checks for anyway?

[Anonymous]

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casinoannie97 wrote:

I just used one for the first time.  1.89% until 4/09.  3% fee. I didn't see any dangerous hidden stuff but we'll see.  I think they're better than cash advance.

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Selling your soul to the devil is better than a cash advance.

[Anonymous]

I forgot all about identity theft.  I get tons of those checks from WAMU and BofA.  It's really annoying to get those things every week (no kidding).  I think I'm going to request they stop sending them.  We have a mail person that needs to take "Reading 101" because my neighbors and I are always getting each other's mail.  Not that my neighbors aren't lovely people, but one never knows!

[Uniqua]

I COMPLETELY understand now!

After my last post on this topic, I must have received about 8 of these in the mail from all 3 of my CCCs. After reading and reading and reading, the big "DUH" finally hit me. Since the clock starts ticking the moment the check is presented on my CC account, they are officially making money off of me. Since I always PIF, they are not making a dime now. Hence the reason they BOMBARD me with 4-5 checks at a time -- that WaMu. Kiss my grits, WaMu. It ain't happenin'!

Unfortunately, my shredder is on it's last limb.

[MattH]

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@Anonymous wrote:

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@Anonymous wrote:

I just used one for the first time. 1.89% until 4/09. 3% fee. I didn't see any dangerous hidden stuff but we'll see. I think they're better than cash advance.

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Selling your soul to the devil is better than a cash advance.

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At least when you sell your soul to the devil you know exactly what the terms of the deal are

My wife calls lenders who send such checks -- which we routinely shred -- "credit pushers."

Message Edited by MattH on 10-18-2008 08:56 PM

[Anonymous]

When you get those checks, think of them as a nice, juicy, wiggling nightcrawler seductively perched on a #8 hook... and you're the fish. You might get a good deal out of it, but you might just bite off more than you can chew.

[Anonymous]

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@Uniqua wrote:
I got my new AEFCU CC about a month ago. A few days after I got it, they sent me some checks in the mail to use. Their explanation wasn't quite clear and I am clueless as to why they sent them to me or why I would even use them.

As I recall, Chase used to send them to me too when I had a car loan with them. Didn't understand it back then either. Sooooooooo, somebody please tell me ....

WHAT THE HECK ARE THOSE DARN CHECKS FOR ANYWAY?

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They are an incredible ripoff. Both Discover and BoA send me these checks-- Discover is bordering on spam. Both of these banks charge a fortune in interest to use them.