Opting out CC checks in mail?

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fffresh
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Opting out CC checks in mail?

Postby fffresh » Mon Aug 04, 2008 10:01 pm

You know how they send those cash advance/balance transfer checks in the mail usually once every month or two? Well I really hate getting those. What I've noticed lately is they now require you to call and activate them which is a good thing, because before I think the checks use to be active when you got them in the mail, but not anymore. I would still just prefer not to get them though.

I know there's an option on every one of these we get that you can call and opt out of the offers completely. The thing is I don't want to opt out of ALL credit card offers, because I do carry a balance once in a while and I like to be up to date on any 0% offers in the mail, so I don't want to opt out of those. But I would like to opt out of getting these checks. When you opt-out are you opting out of everything or can you choose what things opt out of

(After writing this I realized I could find out just by picking up the phone and calling them :rolleyes: but I'd rather not. :ppp )


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Postby Cucumber » Tue Aug 05, 2008 10:11 am

Yea I know what you mean. I've never opted out but I think it says you opt out receiving all offers. I wouldn't worry about it tho bec usually if you need to find the best balance transfer offers you can just call up your credit card companies and they will offer you the same ones over the phone that they send you in the mail, at least that's how it's worked for me.
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robert.loehmann
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Postby robert.loehmann » Thu Aug 07, 2008 1:15 am

The problem with these is they send them out way to often. If they only sent these cash advance checks out every 3 or 6 months I wouldn't really mind. But when each credit card company is sending them to you once or twice every month it gets to be too much. Bank of America sends them to me with my statement and in a separate mailing every month. Hey I heard you the first time guys! Save a tree you don't need to send it to me twice!

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Postby JEFF COGA » Tue Aug 19, 2008 1:11 pm

I understand the concern for fraud, theft, and the headache if someone with bad intention gets hold of the card BUT I would highly recommend no one to "opt out"!!!

Here's why... Once you opt out, you set of a series of trigger within the company!!! This trigger is very bad (i'll post on this later)... because when you call to negotiate rates you do not have ANY amunitation/leverage... ex. I'm pretty sure you've noticed when you call the bank to "activate" the checks they will say... "as a convince to YOU we can take care of this BT for you today..." these reps GETS COMMISSION!!! Some times by you saying I'll just use the checks UNLESS YOU CAN DO ANYTHING BETTER?... You'll be suprised on how many times the reps will lower your rate or extended it... because they need to get the BT to get paid out.

Last but not least...if you opt out, then call and use the rates the rep gives you... you have a very higher propensity of getting labeled as a "RATE SURFER"... once you are labeled/black listed it will be VERY VERY DIFFICULT TO GET A RATE UNDER 4.99% with the current card issuer...
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Postby JEFF COGA » Tue Aug 19, 2008 1:13 pm

ALSO... lets say someone with bad intentions gets hold of the checks... you can use this as leverage to get fees, lower BT rates and etc etc for the "inconvenience this caused you"

**you are not liable for a single penny of fraudulent charges***
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Postby Mogul of Pineapples » Wed Aug 20, 2008 2:30 pm

I see what you mean now about it being better not to opt out. Having the checks gives you something to work off of. For example, if the checks said 0% for 9 months, you could call them up and ask for 0% for 12 months. Otherwise the CSR might say they only have 0% for 6 months, and you would negotiate up to 9 months only instead. This is pure speculation on my part but I would hypothesize it's something along these lines?

It seems like these checks would be harder to scam too since they have to be activated in order to use now. Before they would be mailed out active. I would imagine when you call to activate you have to verify account numbers, account info, etc. for your card. Would it be safe to say that you could toss the checks in the trash and even if someone found them you would be in no danger because they wouldn't be able to activate them?
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
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Postby JEFF COGA » Thu Aug 21, 2008 12:06 am

You want to have the access checks as a starting point... cannot go into a fight without ammo...

heres a quick tip on how to kill 2 birds with one stone:
- you receive 0% 9 months access checks
- call the bank - call with ph# on the BACK of your credit card, NOT ON THE CHECKS!!!
- When they verify you ask for contractual rate decrease, credit line increase, ask them how the days going etc etc... your filling them out to see what kind of power they have... if they increase credit card limit, GREAT!!! (lower debt to credit line ratio)... if they lower contract rate, GREAT!!!...
- Next casually ask them... what is your guys BEST BT PROMO for a customer who (never been late, always paper more than min, had the card for x-amoutn of years etc etc)... and shut up!! First rule of negotiation, first Who throws out a number usually losses.
- If the rep gives you the same time length that maybe the best deal but if they say 2.99 for 12 months, 1.99 for 9 months and etc you have some ammo to fight...
- ALWAYS ask for something locked for life of the loan - if you do not ask the questions, you'll never know... 0% 9 months is good but why not take 1.99% for life


Also you are in no danger... just keep in mind, banks keep track of "habits" - how much you spend, where you spend, how you spend it (swipe/access checks/cashadvance), online and etc. If you do something out of the norm... typically the fraud time will call you or stop the charges.
Jeff Coga
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http://www.SoCalBargainProperties.com

-Want to learn real estate? Learn while your Earn...
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Herman65
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Postby Herman65 » Tue Sep 30, 2008 5:27 am

It certainly is a scam. Like we can use the credit card to do everything those stupid checks will do. My mail lady often puts my neighbors mail in my box and my mail in my neighbors box. I'm sure these have ended up in the wrong hands. It's a good thing you have to call to activate but it's still a scam none the less.

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Postby Floppster » Tue Sep 30, 2008 6:37 pm

JEFF COGA wrote:I understand the concern for fraud, theft, and the headache if someone with bad intention gets hold of the card BUT I would highly recommend no one to "opt out"!!!

Here's why... Once you opt out, you set of a series of trigger within the company!!! This trigger is very bad (i'll post on this later)... because when you call to negotiate rates you do not have ANY amunitation/leverage... ex. I'm pretty sure you've noticed when you call the bank to "activate" the checks they will say... "as a convince to YOU we can take care of this BT for you today..." these reps GETS COMMISSION!!! Some times by you saying I'll just use the checks UNLESS YOU CAN DO ANYTHING BETTER?... You'll be suprised on how many times the reps will lower your rate or extended it... because they need to get the BT to get paid out.

Last but not least...if you opt out, then call and use the rates the rep gives you... you have a very higher propensity of getting labeled as a "RATE SURFER"... once you are labeled/black listed it will be VERY VERY DIFFICULT TO GET A RATE UNDER 4.99% with the current card issuer...


I have to admit, that I do not have to deal with 10 different offers a day since I opt'ed out. It is a great to get only a certain amount of mail a week and not have empty the shredder 2-3 times a week. A Check in general will be opened up looked at and shredded. I never take advantage out of these checks and I never will. I get them like once a month but that's about it. I never even thought about bargain the rep about a APR discount or whatever. I would run myself into debt way to fast if I would do all that !
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Mogul of Pineapples
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Postby Mogul of Pineapples » Wed Oct 01, 2008 9:38 pm

Floppster you're still getting offers once a month even though you opted out?
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred



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