Last Dec. I zeroed out my Optima Card. Paid off a $2800 balance at 9.9% and just stuck the card in George's infamous sock drawer. Today, I get a letter from Amex with 4 BT checks. Couldn't believe the terms 3.9% until the balance is paid and no transaction fees! Never saw an Amex deal this good. Goodbye FirstUSA and Cap 1. Perfect timing on Cap1. I had a 0% with them that expired with the April billing cycle and then it was 7.9%. Keepmine's get out of debt plan just picked up some steam. The letter did have one thing I'd never seen. I have to call an 800 number to activate the checks prior to using them.
ATT Universal also sends "dead" checks that you have to call their number and activate before using. This really is very annoying, I wonder why they do it? MBNA and First USA sure don't and that makes me want to use the checks much more readily.
They do it as a security measure. It may be inconvenient but it would be a bigger hassle if your mail was intercepted and someeone else negotiated the checks.
I like the idea of "dead checks" and all companies should adopt that policy. I just moved and Chase and MBNA are still sending "live checks" to my old address - even though they send my statements to the new address. I am so concerned about someone stealing my checks. The good thing is that banks usually hold funds for 10 days before allowing the person access to the money, but the amount posts to the credit card immediately. That way, if someone gets your checks, you'd know before they actually got the money, if you check your account balances frequently.
george, wouldn't you prefer that a forged check was returned unpaid rather than paid and charged to your cc account?
