Britain’s financial watchdog has warned credit card firms against the blanket suspension of cards of consumers who are stuck in a debt spiral, telling them to reduce or waive interest and other charges instead.
Source: Loan Digest (loandigest.net)
Noble gesture. Will they follow through?
Signs of a new credit crunch
The very purpose of a ‘credit card’, is to keep all users entangled in ‘debt spiral’. What kind of an idiot wants that not to be done? The best thing would be to educate society, about the harms of credit cards. FCA DebtSpiral CreditCards US USA Banking ConsumerBanking
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