Credit card advice report published
A study which includes advice on helping credit card users is being issued to banks, the government and the Treasury select committee.
The study published by the Centre for the Study of Financial Innovation includes consumer research and analysis.
Based on the results of the report, the study proposes financial planning tools which could help credit card holders and other banking customers.
These include a savings tool and a function to help customers with their credit card debts.
Antony Elliott, author of the report and Director of FairBanking, said: "If the banks really do want to redeem themselves in the eyes of their customers, this study shows them precisely how to do it.
"It even provides a robust and entirely credible mechanism for the banks by which they can measure the improvement in their customers' financial well-being, which they have helped bring about."
Credit card customers could also be affected by a new ruling from the Competition Commission that states payment protection insurance will no longer be sold to credit customers alongside credit.
Written by Sarah Wilkins ©
