🚀 go-pugleaf

In article <778905954jt.jt@cuppa.uucp> jt@cuppa.uucp (John Tombs) writes:
>Today my wife and I each received a First Union CheckCard with a flyer
>extolling its virtues as a check replacement. Closer inspection reveals the
>following:
>
>1. There is a $1.50 monthly fee after the first 6 months.

That comes to $18 a year. Can't compare to no-fee Visa. But I think there 
are still visa cards out there that charge up to $20 annual fee, 
especially those with very low interest, like Wachovia.

>
>2. On activation, our existing ATM cards, which are free, cease to work.
>
Don't activate it then. Just cut in half and throw in the trash can. 

Banks used to mail unsolicited credit cards to consumers. Congress then 
passed a law to make this practice illegal. If you get technical, First 
Union may have violated this law too.

>3. Unlike a credit card, the CheckCard provides no credit nor any grace 
>   period for payment.

I wonder when the withdrawl is actually posted after you make a purchase 
with it. Even writing a check gives you 5-7 days "grace period", which is 
normally how long it takes for the merchant to get the check deposited 
and cleared.