New Clause 1 - Credit-token specification
Consumer Credit Bill
3:44 pm
Mr James Plaskitt (Warwick and Leamington, Labour)
The new clause would not adversely affect that type of offer, because I am not seeking to remove credit card cheques from the system entirely; I am simply trying to bring an end to their unsolicited issuing. In a moment, I shall address some of the issuers' arguments in defence of their practice, and I will test those arguments against the point made by the hon. Member for Gordon.
There is also a problem with regard to the repeat issuing of cheques. An examination of the marketing material that companies use when they issue the cheques is quite informative. For example, the leaflet that MBNA issues with its cheques, entitled ''Making the most of your credit-card cheques'' states:
''Credit card cheques make perfect gifts for family and friends and are a really clever way to use your MBNA credit card account''.
The Halifax also issues promotional material with its cheques and makes a series of suggestions as to how its customers might use them. For example, it suggests using them to pay for club memberships, holidays, home improvements, school and university fees, or to buy oneself gift or treats.