Compare Credit Cards with CardSmart

Home » Credit Card News » Trends and Analysis » New regulation initiatives 'could drive consumer credit providers out of the market'

New regulation initiatives 'could drive consumer credit providers out of the market'

Consumer credit providers - which include credit card providers - could be driven out of the market due to new regulation drives, it has been suggested.

More from Trends and Analysis
30 September 2009

New regulation initiatives 'could drive consumer credit providers out of the market' ”

Bookmarks

According to the Finance and Leasing Association (FLA), this could mean consumers are faced with a limited choice of lenders, which in turn could affect the rate of economic recovery.

New statistics from the FLA have shown its members are seeing a reduced rate of contraction in new businesses.

However, new consumer finance business was 16% lower from May to July this year than the same period in 2008.

New business extracts for credit cards were valued by the association at £2,706 million in July and £33,093 million in the 12 months to July.

In other credit card news, fresh statistics released by the Bank of England have revealed credit card lending rose by a net of £0.2 billion in August.

Written by ©

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).
Compare More Credit Cards...

The content and information on this website are intended as general information only and shall not be construed as financial advice or recommendations of any nature in accordance with the Financial Services and Markets Act 2000 nor is it intended to address specific financial requirements. Read more... We strongly recommend that you seek independent financial advice before using and/or relying on the information made available to you or prior to purchasing any financial product/service listed on the Website. Whilst every attempt has been made to ensure that the content and information published are true, correct and up to date, no warranty, guarantee or representation is given as to its accuracy, reliability or fitness for a specific purpose.

The Best Buy credit card comparison tables feature financial products/services of our advertisers and may not necessarily constitute the best offers in the market for each of such products/services.