Card companies 'taking debt seriously'
Credit card companies are taking steps to ensure customers do not get into financial difficulties on their plastic.
According to Equifax, more and more firms are volunteering schemes aimed at helping cardholders manage their money better.
Neil Munroe, external affairs director, says this should be taken into consideration before falling in with the general perception that credit card providers are more intent on exploiting than advising consumers.
He says: "There are a number of initiatives that the card companies have undertaken in the last year or so which they have volunteered, which shows that they do take this matter of over indebtedness and people getting into trouble with credit cards quite seriously."
Mr Munroe adds this attitude will ensure providers are receptive to new measures announced by the government this week to protect cardholders from careless borrowing.
These include stopping lenders from raising credit card borrowing limits where customers have not requested the increase and ending the practice of firms sending unsolicited credit card cheques.
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