| If you already pay off your card every month, what good is a check card?
I'd rather have the interest on the money until the payment due date,
as well as the possibility of disputing a charge before it's taken out
of my checking account.
When I've been sent such cards, unsolicited, I've sent them back.
/john
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| To make things simple, here is the key part of 897.52 that answers
the question in .0. See 897.52 for further details.
From: US2RMC::"pkinz@cougar.tandem.com" "kinzelman_paul" 25-OCT-1994 17:16:49.09
To: wldbil::kilgore, (Bill, Kilgore)
CC:
Subj: Please post this in DCU ASAP
...
This card is regulated under regulation "E" - the same regulation that
controls charge cards. This regulation limits the card holder loss to
$50 per instance of card loss. In addition, you would be reimbursed
for any "bounced check fees" charged both by DCU and the merchant for
any additional checks that might bounce and this is not subject to the
$50 cardholder loss limit.
It's also important to note that because unvalidated charges could hit
your checking account even after you report the card as stolen, you
could lose up to $50 even though you've properly reported the card
stolen. This is no different than any other electronic funds transfer
or charge card.
Any additional questions, comments, or concerns should be directed to
the credit union.
This note may be forwarded in its entirety to any DCU member.
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