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ECB executive board member Gertrude Tumpel-Gugerell has told Reuters that the bank is keen to see more credit cards in the market so that there is a more competitive edge to offerings for consumers.

"We see the need for an additional European card initiative as the logical follow-up of the current national one and in addition to the international card schemes already active on a pan-European scale," the expert said.

Nonetheless, she added that consumers are currently benefiting because fees remain on a downward trend.

Any moves to improve the availability of different credit cards on the market in Europe could benefit UK credit card users by boosting the number of options available in this country.

It might also give Britons who regularly travel to the continent the opportunity to find overseas cards that suit their needs.

Recent research from MoneyExpert.com found that over one million credit cards have been taken out of circulation in the UK over the past 12 months, as banks cut down on their lending practices during the recession.

Posted by Sarah Nyman

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9%
** 16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable). **
	Virgin Credit Card
	20 months	3 months	16.8%
** 16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable). **
	Barclaycard Platinum with BT
	22 months	3 months	17.5%
** 17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable). **
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