Monday, April 28, 2008

Blank check for mischief?

Citibank doesn't seem to think it's a problem to send out blank "balance transfer" checks so its credit cardholders can write a check to, as its marketers say in the mailer, pay bills, do more on vacation, have a night on the town, or put extra cash in the bank.

Even if I wanted more cash, the terms aren't very attractive--there's a 3% fee on balances transferred from another card ($5 minimum, $75 maximum). Ouch!

Years ago, I wrote Citi on several occasions insisting that it no longer send me blank checks for any purpose, since it's so easy for someone else to come along, steal mail from my mailbox, and stick me with the bill for a spending spree. After I wrote the CEO, things quieted down for a while. Now the checks are back in my mailbox.

NO MORE BLANK CHECKS. How clear is that message? Blank checks in the mail are a blank check for theft (or at the very least, mischief).

---Follow up: Just a couple of days later, I got a letter from Citi, saying my monthly statement was posted on the Web site and I could log in to see it. This, because I'd signed up for electronic statements to prevent theft of my credit card number from my snail mailbox. Oh, and the letter included my entire credit card number. Not just the last 4 or 5 digits, but the whole thing. Who thinks up these things?

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