Tempting Check Offers

For anyone strapped for cash, blank checks that credit card companies mail out are tempting.

But Consumer Reports money adviser says they may look like a good deal, but they aren't.

They arrive in your mailbox, blank checks from credit card companies. They look like a quick, easy way to get some money.

But Lisa Freeman, with Consumer Reports money adviser cautions these so called convenience checks can cost you plenty.

Lisa said, "Two things you have to watch out for are transaction fees on each check, which can be substantial, as well as balances that can grow out of control at high interest rates."

For example, with these two discover card checks, there's a transaction fee of 3 percent on each check. And the interest rate is 21.99 percent.

Sometimes the checks promise low promotional interest rates. This one has a .99 percent apr. But if you already have a balance on your credit card, watch out!

Consumer Reports says the best thing to do with these checks is shred them.

Consumer Reports money adviser says it's important to shred those credit card checks because if they're stolen they don't have the same protection as a stolen credit card.

With a credit card, your liability is limited to $50, with the checks there is no limit to your liability.


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