Recently I opened a letter and received a perfectly valid check in the mail from a local creditor. I, of course, cut it into bits and then wept over the pieces, but it was really rather weird. Also incredibly predatory from where I'm standing. So yeah, anyone else have this experience before? And if you did ... um did you actually try to cash it or did you do the painfully responsible thing?
I've never heard about that! Part of me wonders if you'd have to face any kinds of repercussions for cashing the check. Only reason I wonder is because they sent you a check with no contract behind it. If someone with more experience then me can chime in and let me know that be awesome!
I would be extremely wary of this. Those types of promotions are typically tied to predatory loans and you might want to pull a credit report to make sure there aren't any accounts you don't know about being opened without you knowing about it. With that said, a check created without a credit check tells me that the risk might be worth around 20 - 30% That's not good so avoid!
