I Am Not Cheap, I Do Not Say Yes to All Checks

We received a couple checks last week in the mail.  Take a look at them below.

This first one is from Wescom Credit Union.  The letter that came with the checks says:

Make your Summer Dreams come true!  Simply endorse this check and deposit it in your account.  There’s no waiting period.  Or, you can also call us at 1-888-NOT-DUMB to accept this pre-approved offer.

Go ahead, make this summer a memorable one.  Use your $5,000 for travel, remodeling, graduation or wedding gifts, or any way you’d like, other than paying a Wescom loan or credit card.

This is not a checks, this is a ticket to the land of debt!  This company tempted my fiancee with a $5,000 checks that she can just cash in and automatically taken a loan out.  I bet there are some people that would cash the checks without knowing what it truly entails.

Here’s another one from Citibank that was sent to me with my credit card bill.

CASH WHEN YOU NEED IT – It’s easier than ever to get cash, up to your available Cash Advance Limit.  Tear off the attached check, deposit it into your bank account, or use it like any personal check.  Convenience checks access the cash advance portion of your credit line.  Refer to your Card Agreement for specific finance charges.

I looked everywhere.  Buried under the fine print of the terms and conditions were – Cash advance APR: 23.24% variable.  No thanks!

Look, be smart, read the fine print and risk the temptation.  Say no!