Credit card provider says government should further its investigations
Credit card provider Saga Services has said that the government should investigate why some credit card providers have increased rates.
Credit card provider says government should further its investigations”
Credit card provider Saga Services has said that the government should investigate why some credit card providers have increased rates.
The suggestion follows the announcement by the government of a series of measures to provide a better deal for credit card holders and consumers.
Measures will include the regulation of store and credit cards to help consumers to gain more control over their borrowing.
Unsolicited credit card cheques are also to be banned under the new proposals.
Roger Ramsden, chief executive of Saga Services, commented that the government should take its investigations further.
"At Saga we have slashed the interest charged by a quarter to help our customers who have an outstanding balance. As more people come to rely albeit temporarily on credit card borrowing the industry has not shown itself in the best light," he said.
Business secretary Lord Mandelson said that the government is already providing help to protect people from falling into debt and those who get into difficulty, but stated that it needed to do more.
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