'Credit card queries answered by consumer minister in webchat'
Consumer minister Kevin Brennan spent an hour answering consumer questions on credit card borrowing on the Number 10 government website.
'Credit card queries answered by consumer minister in webchat'”
He addressed queries concerning the government's proposals to put people back in control of their store and credit card borrowing and the ways in which lenders are to be regulated.
Speaking from Downing Street, Mr Brennan said in the webchat that the government is currently consulting on whether the minimum monthly payment on credit cards should be raised.
He added that if the minimum payment is increased, it will be important to ensure the raise does not make matters worse for people trying to manage their debts, according to the Number 10 website.
Mr Brennan also responded to a participant's comments by saying the government is consulting on banning credit card providers from increasing credit limits without a customer request for this action to be taken.
He continued by responding to a comment by Doris Fone, stating: "I have called on credit and store card companies to clean up their act to make sure customers aren’t exploited by complex and confusing terms and conditions."
The government recently passed new legislation banning the use of unsolicited credit card cheques.
Written by Marcus Jenkins ©
