Consumers warned over unsolicited cheques
Around one in three Brits have been sent unsolicited cheques by their credit card provider, claims new research, and a fifth felt they had been encouraged to use them.
MORE THAN warns that in the light of these new figures, all consumers should be on their guard against using these cheques, because they sometimes charge higher rates of interest than standard cheques.
Unsolicited cheques are used in conjunction with credit cards, but up to 17 per cent of consumers said they were unaware that the cheques incurred higher interest rates by as much as 20 per cent APR.
Some cheques also carry a two per cent handling fee, which some consumers might also not be aware of.
Graham Hollebon, head of personal finance at MORE THAN, said: 'It is irresponsible for credit card providers to send their customers unsolicited credit card cheques.
'We would advise people to consider very carefully the alternatives before using a credit card cheque. Cheques can be an expensive way of funding your spending and almost certainly it would be cheaper to use plastic instead.' | 
