According to Google, news UK credit card cheques will be banned shortly. The ban is to take place to help consumers avoid overdraft charges during the recession.
People owe more than €229 billon on overdrafts, personal loans, and credit cards already. The lenders are accused of enticing the consumers of getting into debt by offering easy solutions for getting credit and cheques.
People can easily write cheques from money on their credit cards rather than money in the bank accounts. So far, over thirty-two million cheques have been assigned this year. Thus, the Prime Minister stated on BBC that the country government intends to put an end to credit card cheques.
The government is also considering whether the credit card companies can be banned from setting higher credit card limits without consulting the consumers or cardholders.
Some people feel threatened by this government decision so they search for credit cards UK offers that allow them to have backup solutions. Thus, if you are searching for UK credit cards take care to look for the best deals and use your cards wisely. Credit card providers are also feeling threatened so they too are offering better deals on APR and interest rates on their credit cards.
