Credit cheques take a huge blow in popularity

May 1, 2007

Credit cheques used to be classed as a convenient way to pay for our shopping. However as the years have gone on, the cheque has become less and less common and now some supermarkets have even stopped allowing the credit cheques altogether.

Stores such as Asda no longer accept credit cheques and Boots and Shell petrol stations are also stopping accepting them from May 2007. It is thought that customers no longer prefer cheques and in fact they do not seem to think that cheques are even worth anything anymore.

So now cheques are mainly used to transfer money from one bank account to another. This is a small blow for those who still do like to use cheques to pay for their groceries, but for many it will not particularly affect them. For supermarkets and stores it is simply a complete waste of time and energy offering something which is hardly used and it makes god business sense to scrap it in order to save money.

One reason which is given for people preferring other methods of payment over cheques is that they prefer to borrow money rather than use their own. Using their own money worries them as they do not like to see it taken. However, spending money that is not theirs in the first place is a lot easier to handle. So credit cards are used more and cheques have taken a back seat.

Of course cheques will always be needed in some form, but just not for grocery shopping. Something which many consumers do not know is that credit cheques are not covered under any law and so if fraud is committed against you when you use a credit cheque to pay for something, there is unfortunately nothing that you can do about it. So this may also influence some people’s decisions on how and when to use cheques.