Banks 'cancel good payers' cards'
Banks may be taking cards from reliable customers and giving them instead to riskier ones in order to boost their profits, a senior MP has suggested.
The chairman of the treasury select committee, John McFall, says companies may be withdrawing cards from people who pay their bills on time.
The suggestion is they are being given instead to people who pay interest because they cannot clear their debts.
Such practices "have to be called into question", says Mr McFall.
He has previously complained that credit card companies were not being transparent. Now he says they may not be being fair to their customers......Article conts (-)
Banks may be taking cards from reliable customers and giving them instead to riskier ones in order to boost their profits, a senior MP has suggested.
The chairman of the treasury select committee, John McFall, says companies may be withdrawing cards from people who pay their bills on time.
The suggestion is they are being given instead to people who pay interest because they cannot clear their debts.
Such practices "have to be called into question", says Mr McFall.
He has previously complained that credit card companies were not being transparent. Now he says they may not be being fair to their customers......Article conts (-)
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