Credit card cheque ban 'will ensure cheques do not fall into the wrong hands'
The government's decision to ban unsolicited credit card cheques will help to remove the temptation to borrow at a high interest rate, according to Callcredit.
Credit card cheque ban 'will ensure cheques do not fall into the wrong hands' ”
The government's decision to ban unsolicited credit card cheques will help to remove the temptation to borrow at a high interest rate, according to Callcredit.
By banning the cheques, the government is also ensuring that the cheques will not be able to fall into the wrong hands which could lead to consumers having someone else's debts on their account, the company continued.
Callcredit stated that credit card cheques are often sent to the last held address for the intended recipient. However, if they have moved, the cheques can be picked up by the new occupant at that address and used in the intended recipient's name.
Taking steps such as checking credit reports regularly for suspicious accounts and shredding unwanted documents can help to cut down on the possibility of fraud.
Callcredit's comments follow the announcement by the government that unsolicited credit card cheques are to be banned.
The government also announced that a Consumer Advocate is to be appointed to highlight important consumer issues.
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