May 15, 2009
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News: Check or Credit
You know those blank credit card checks you receive in the mail? Have you ever worried they might get stolen out of your mailbox or intercepted somewhere else in their travels from the lender to your home? Does it concern you that the checks show up every month by no request of yours? Many consumers worry about the added risks involved when lenders mail these checks out on a frequent bases. If you want to stop receiving these checks, it’s usually easier than you think. All credit card companies vary, but most follow a simple procedure. You can call the toll free number on the back of the credit card to request they stop sending the checks. There are several steps involved in the distribution of the checks and the information passes through several hands before reaching the end consumer. Therefore, it could take up to 90 days from when the individual notified the card company before they stop receiving the checks. In the meantime, you should expect to continue receiving the checks for the next couple of billing cycles.
The truth is, the blank checks are really not as risky as most individuals would think; at least not to the credit cardholder. Typically, the cardholder has a zero liability in terms of fraudulent activities as far as the checks are concerned. Whether the checks are stolen out of the mailbox or the wastebaskets and used fraudulently, the cardholder is usually not held liable. Credit card companies have checkpoints in the check cashing process to protect themselves and the consumer. Furthermore, the checks have microprinting on them making it virtually impossible for anyone to duplicate them. Despite the fact that the checks are safer than you might think, it is still important to take the same precautions in protecting them as you would any other valuable possession.
If you never plan on using the checks, calling your lender to request they stop sending them is the safest action to take. Regardless of how safe the checks may appear, taking risks is never a good idea. Victims of ID theft and credit card fraud suffer great losses to their reputable credit rating not to mention the amount of time and energy it takes to clear the whole mess up.