Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Consumer
Prevent convenience check surprises this spring
NEW YORK (3/24/10)--Consumer spending in the U.S. is expected to increase as warmer weather and the Easter holiday spring shoppers into action. Shoppers plan to spend an average of $118.60 this Easter season, a 2% increase from 2009, according to the National Retail Federation’s 2010 Easter Consumer Intentions and Actions survey. The small increase in discretionary spending is a positive sign for the economy (cnn.com March 16). While chocolate bunnies and spring sales coax a few extra dollars from wallets, be alert if you use convenience checks from your credit card issuer. These checks are indeed a useful convenience. Just be aware that they are cash advances with potential pitfalls consumers should consider (fdic.gov March 15). Here’s how to enjoy the convenience and avoid trouble:
* Understand the agreement. Know the interest rate and whether it will change after an introductory period. Also, know what transaction fees and other charges may be assessed. * Shred what you don’t use. Crooks search through trash for important documents and financial information. To prevent fraud, always shred unused convenience checks--and any valuable documents--before disposing. * Understand that different rules may apply. Use of a credit card allows you to withhold payment under certain circumstances for defective goods. Convenience checks do not provide the same protection.
For more information, read “Get Real About Credit” in the Home & Family Finance Resource Center.
Other Resources

RSS





print
News Now LiveWire
CU Effect: @StLouisComm collaborates to save homes with FHLB grant #NewsNow http://t.co/fxX8EhouUj
4 hours ago
#NewsNow March 31 deadline for Biz Kid$ fin. ed grant application http://t.co/5AD5ZYPLEU
5 hours ago
.@CUNA sends letters on @RepAndyBarr QM bill, @RepMickMulvaney @NCUA budget transparency bill #NewsNow http://t.co/cRAk46ALeD
6 hours ago
The U.S. Court of Appeals restored NCUA lawsuit v. Barclays Capital that charged misrepresenting quality of $550M IN RMBS. See News Now Wed.
20 hours ago
Registration is now open for the online livestreaming of @TheNCUA March 19 open board meeting. http://t.co/yOuqdXHlxj
1 day ago
150x172_Sign up for election newsUnite for Good Share your Stories100 Million CU Memberships