Consumer group Which? says that the summary box on the credit card promotional material does not warns consumers regarding the dangers of using credit card checks. This is being claimed after UK’s payments organization had introduced mandatory summary boxes on all literature selling credit card checks.
Even though the boxes would be containing all the information but the customers might not be able to appreciate the disadvantages of the product. The information should be disbursed in a proper manner if everything has to made clear to the customers. The information should be written on the checks rather than stashed away on leaflets.
There are a number of disadvantages of these checks as they cost more than other means of payment and don’t have any interest free period and can result in a greater fraud risk as compared to cash payments or balance transfer.
