Comments on: Credit Card Changes Are on the Horizon

By: Peter Anderton

Peter Anderton — Wed, 08 Apr 2009 16:55:52 +0000

With all the trouble in the banking system over the past 6 months or so it has come to light that such organisations as the financial services authority have done very little to help consumers. In fact it has been said by many that the FSA is run by ex bankers and is merely there to help the banks. It would be great if there was real change, but some how I doubt it.

By: Jane Perry

Jane Perry — Thu, 26 Mar 2009 20:13:04 +0000

The thing is government usually say these things to make people think they are going to help. But I don’t think most governments care. Many of these big time business men give money to the political parties in power to get what they want and I don’t think finance is any different. The big banks and the politicians are all friends and if something is not in our interest but it is in the banks interest then you can bet the banks are the ones who going to be favoured.

By: Charlie Jarman

Charlie Jarman — Mon, 23 Mar 2009 12:54:45 +0000

It is true that credit card companies do need to be regulated a lot more. It is a good idea that they should not be allowed to simply send increase people limit or send out credit card cheques. People should also be made well aware of the costs involved in using credit card cheques. The debt clocked up on credit card cheques is usually charged at a higher APR than the purchases made straight on to the card as they are considered to be a cash withdrawal.

The thing is it’s all very well the government saying they are going to crack down on such things, but unless they actually do it, its no good. So often there is lots of talk about these things, but no action is taken.

Lets hope this time the government actually do what they say they are going to do.