More Cash for Fall Fun - MBNA Canada Cheques

I got this letter from MBNA today with some MBNA MasterCard cheques

This is how MBNA sells you on using your credit limits

I think it's important to illustrate to Canadians how they get sold on credit. This is a delicious offer for use of credit. If I was short of cash and desperately wanted a holiday or christmas presents, this offer would be almost unresistable.

MBNA Canada sends this out to all of their clients which are hundreds of thousands. ( I'm not sure how many clients MBNA Canada has ) You can imagine that they're going to sell alot of credit to their existing clients by sending them convenient cheques to use.

It's always good for people to spend some time and figure out if they really need the cash (debt). This sales material makes it very tempting and very easy for consumers to get credit.

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More Cash for Fall Fun.
Your Credit Limit is $xx,xxx

RE: Your account ending in xxxx

Dear Monty Loree,
There's a crisp feeling in the air that only comes in late fall. And there can be big savings in the air when you transfer a balance to your MBNA MasterCard account. You could start saving money right away.

With your credit limit of $xx,xxx, the enclosed Access Cheques* and you MBNA® MasterCard® credit card, you're ready to do what you want, when you want.

Use the extra cash to...

• Consolidate your Line of Credit
  
• Accelerate your home renovation plans
  
• Splurge on your holiday shopping
  
• Head to a vacation spot of your choice.

Freeing up cash means more fun for you. Take advantage of the amazing rate today.

Getting extra cash just got easier. Simply call 1.866.798.1981 to request a Balance Transfer or write a cheque to yourself and deposit it into your chequing account.

Sincerely,

Brent Bishop
Senior Vice-President of Marketing
MBNA

P.S. Write a cheque today or call to activate this amazing offer

Disclaimers Below

Some facts we want to know:
• The transaction fee for Cash Advances, including the enclosed cheques, is 1% of each transaction (min $7.50).
• Payments will be applied to the portion of your balance with a lower interest rate before the portion with a higher interest rate.

MBNA - Over please

Using your Access Cheques couldn't be simpler:
1. Identify a high-rate amount you'd like to pay off, somewhere you'd like to go, or something you'd like to buy. Or, you can even have funds transferred directly into your chequing account.
2. Write a cheque just you would a personal cheque.
3. Start enjoying what you want immediately!

Cheque Cash Advances are Cash Advances. They are processed as Cash Advances and must be repaid and otherwise dealt with according to the terms of your Credit Card/ Account Agreement and are subject to credit availability. These cheques cannot be used for repayment of any MBNA account.

MBNA Canada will allocate your payments to balances ( including new transactions ) with lower Annual Percentage Rates before balances with higher Annual Percentage Rates.

MBNA, MBNA Canada, MBNA Canada Bank, the MBNA logo and the tree symbal are all trademarks of FIA Card Services, National Association, used by MBNA Canada Bank pursuant to licence. Mastercard is a registered trademark of MasterCard International, Incorporated, used pursuant to licence.
© 2007 MBNA