Attack on rip-off credit cards

To bring into line the true cost of the debt that the British consumer has amassed, a plan to combat the greed of banks will be unveiled, to stop them from profiteering from the needy.

The plan will be aimed at the way that the credit card companies, advertise and package they’re cards.

The amount of borrowing is starting to reach a crescendo and ministers are looking at ways to make sure that the customer knows what the cost of the borrowing is costing them.

This will include showing the customer the true cost of a 0% deal, which can look good at first sight, but can hold a few little gremlins in the shape of high charges for late payments and for using the cards in cash machines (ATM’s), these are well hidden in the small print of your agreement.

With the total of British debt outstanding at £168 billion, the timing of the changes in the 30 year old Consumer Credit Act, could not have come at a better time and will also look into the dealings of loan sharks and loan companies who charge extortionate interest charges.