Do you make lots of small repayments on your card?
The Government is calling on all credit card issuers to provide consumers with alternative payment tools. A new consultation paper on credit card market reforms was released last week.
The Treasurer, Scott Morrison, has proposed that card issuers should have to contact consumers who persistently make small repayments and offer them an alternative payment method, such as a repayment plan over a selected period of time.
Source: Banking Day