http://news.bbc.co.uk/1/hi/business/8326485.stm

On the whole these are good proposals. However my one concern is that if these will apply to existing cards and balances, the increased repayments will force people into bankruptcy where they can meet current repayments but not an increased level. Surely the government doesn't intend to forcibly bankrupt people like this?

It is probably more about making them think about what they are buying, before slapping the plastic on the counter.

Here in Germany, you can only have a credit card from your bank and it is automatically paid off 100% every month from your current account - anything which you can't cover is added to your overdraught and if you go over your overdraught limit, your credit card and bank account are frozen until you discuss your problem with the bank.

It means people are a lot more concious of what they spend. The credit card is just there for added consumer protection and for international travel, it isn't a free-floating loan system.

Agreed.

The German system is much, much better than the farcical so-called system over here.

Go Deutschland!