Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News - 20/1/2010

 
Credit Card Charges: Credit card changes are 'too little, too late'

Proposed changes to the way consumers pay down credit card debt are "too little, too late", according to a financial expert.

Measures put forward by the UK Cards Association include the requirement for card companies to contact clients who repeatedly just meet the minimum payment to alert them to more cost-effective methods of reducing card debt.

Customers who fail to meet the minimum payments on credit cards can be stung by late payment fees from the banks, which it is hoped the proposals will prevent.

The changes will also include plans to alter allocation of payments so that all payments above the minimum will reduce the most expensive debt first and a ban on unsolicited credit limit increases for customers facing difficulties.

However, Martin Bamford, personal finance writer and chartered financial planner at Informed Choice, believes "it is disappointing" that only the amount above the minimum payment will be used to scale-down higher interest debt.

"Really this is too little, too late. Hopefully the government will now move to legislate for consumer-centric provisions forcing credit card providers to treat their customers more fairly," he added.

If you would like to make a credit card charges claim to get back all your late payment / over limit fees in the last 6 years then fill out the Quick Claim or call Belmont Thornton on 0845 526 0000 .ADNFCR-2776-ID-19568595-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide