Thinking cap needed on credit cards

By JEFF PRESTRIDGE FOR THE MAIL ON SUNDAY
Updated: 12:56 BST, 2 January 2011

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規則 of the credit card market has c ome a long way. It is one of the few areas in 財政上の services that 労働 統括するd over with a smidgin of aplomb.

As a result, a card issuer can no longer use a 顧客's 月毎の 返済 to 半導体素子 away at their cheapest 負債, leaving more expensive 負債 to rack up onerous 利益／興味 告発（する），告訴（する）／料金s.

Nor can they 許す a 顧客 to make 極小の 月毎の 返済s that 簡単に result in more 利益／興味 存在 capitalised and the 負債 growing rather than 縮むing.

Also, when a card issuer tells a 顧客 that their 利益／興味 率 is rising (for some inexplicable 推論する／理由), they must 許す them the 選択 of 返すing their 優れた 負債 at the 現在の 率.

This is all good news and welcomed by 財政上の Mail. But it seems the 現在の 政府 wants to 課す even more 条件s on the credit card market.

In particular, it is looking to put a cap on the 年次の 百分率 率 (APR) that the card issuers 徴収する on 不明瞭なd 負債 - The 推定では to 妨げる either those on low incomes or with impaired credi t 記録，記録的な／記録するs from 存在 犠牲者s of unscrupulous lending.

Although 井戸／弁護士席 意向d, the 政府 is going 負かす／撃墜する the wrong road. Anyone who knows anything about the APR is aware of the fact that at best it is a 天然のまま 指示する人（物） of the cost of credit card borrowing.

This is because it is 不正に distorted by both 年次の card 料金s and card issuers that 許す only small credit card 限界s - the 衝撃 of both 存在 to make the APR look 過度の or in some instances pernicious.

Also, how APR is calculated 耐えるs little resemblance to the way most people use their credit cards. 現在／一般に, it is worked out on the basis that a 使用者 borrows a 直す／買収する，八百長をするd sum (typically the lower of £1,500 or the 最大限 card 限界) and then 返すs the 負債 in equal instalments over the next year with the card not 存在 used again. Few people do this.

If the 政府 is really 意図 on capping the 利益／興味 that card issuers 告発（する），告訴（する）／料金, then it should 適用する a 限界 on the 月毎の の間のs t 率 they 徴収する. At the moment this 範囲s from between 0.553% and 2.84%. A cap of one per cent seems about 権利.

So, 2.2m people who have already celebrated their 50th birthday in this country will live until they are 100. So said the Department for Work and 年金s last week.

This is all rather splendid news on one level - 特に if it is a long life of 質 - but worrying on another ーに関して／ーの点でs of how to 基金 this 延長するd 'third age'.

Ros Altmann, director general of Saga, the 財政上の services group that caters for the 明確な／細部 needs of the over-50s, says these 統計（学） 最高潮の場面 why it is imperative that the 政府 must go ahead this year with the scrapping of the default 退職 age, which 許すs big and small 商売／仕事s to put 労働者s on the 捨てる heap once they 攻撃する，衝突する 65.

Of course she is 権利 and it would be a travesty if the 政府 屈服するd to big 商売／仕事 and put the axeing of the default 退職 age on 持つ／拘留する.

The 統計（学） also 増強する the message that 財政上の Mail 終始一貫して tries to get across to readers - すなわち that saving for the long 称する，呼ぶ／期間／用語 is 決定的な.

So, if you have 接近 to a 作品 年金, join it as soon as you can (anyway, new 支配するs will すぐに 要求する 雇用者s automatically to put 労働者s into their 年金 計画／陰謀s).

And if you have money left over after 支払う／賃金ing all the 世帯 法案s and 会合 all the new 税金 rises that the 政府 is introducing, use up your Isa allowance.

財政上の Mail is proud of the （選挙などの）運動をするing work it has done over the past year on に代わって of readers.

We have 最高潮の場面d 事例／患者s of 財政上の 不正, 無資格／無能力 and mis-selling committed by some of the biggest brands operating on the High Street - and in many instances helped 犠牲者s get restitution.

Yes, we' ve lost a few 戦う／戦いs along the way, but we've held more miscreant 会・原則s to account than any other newspaper or money section (online or print 見解／翻訳／版).

However, 非，不，無 of this （選挙などの）運動をするing could have happened without your tip-offs (on bank 支店 終結s for example) or your 一斉射撃，（質問などの）連発／ダム of （民事の）告訴s when a bank gets things 本気で wrong (Santander).

So, a big thank you to everyone who has 接触するd us over the past year. We look 今後 to your emails and letters this year -and batting fearlessly on your に代わって. After all, it's what we love to do.