Accept Credit Card Checks

When a business chooses to accept credit card checks, they provide a service to customers and have an opportunity to increase sales. Credit card companies often issue checks to encourage people to make purchases they would not normally make because of the large ticket price. If a person has excellent credit, the company may offer an advance to that person to pay off a different debt or obligation. However, if the company chooses to take this form of payment at their place of business, they could benefit from this extension of credit to the customer. Not all businesses accept credit card check payments, and business owners are under no obligation to recognize this as payment for a product or service.

Much like businesses, the customer is under no obligation to utilize the money that is offered by a lender of this nature. Offers are sent to consumers in hopes the individual will take advantage of the fast cash. This is a way for the individual to receive a cash advance with no application or qualification procedures. Lenders are hoping that the consumer will write the check for a large amount so that they can start charging interest on the purchase. It is important for the individual not to be deceived and accept credit card check promotions thinking it will be possible to pay the amount back before the interest starts to accrue. If the consumer does not currently have enough money to cover the expense, they will not likely have the amount to cover the payment when they decide to accept credit card checks.

There is one time that it may be wise to accept credit card check promotions, and that is when companies offer zero percent interest for a number of months. This could allow the consumer to pay off other debts that may have high interest rates. It is important, however, for the individual to have a clear plan for repayment when that term of no interest is up. Most offers of this nature will provide little or no interest for a term of 12 or 18 months. Once that period expires, however, the interest rate will be high and will most likely be charged to the entire term. If a person decides to accept credit card checks for the sole purpose of making their financial situation more disciplined, then the checks may be a good idea. The consumer must make sure they do not accept credit card checks and use the opportunity to squander the money. Debt is a dangerous enemy that easily turns into a bondage. It is important to be guarded against debt by choosing carefully when to accept these offers, and when not to. "O ye simple, understand wisdom: and, ye fools, be ye of an understanding heart." (Proverbs 8:5)

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