Submitted on Tuesday 26th September 2017
Rejected on Monday 9th October 2017
Current status: Rejected
Rejection code: irrelevant (see below for details)
Force financial institutions to rename “Credit Cards” to “Debt Cards”.
We call upon the government to force financial services companies to call debt what it really is, “Debt”. “Credit” is often marketed in such a way that it doesn’t feel like debt. With unsecured debt growing at a dangerous rate, it is important people are more aware of what they’re getting into.
You can't sign this petition because it was rejected. But you can still comment on it here at Repetition.me!
The Government e-Petitions Team gave the following reason:
The regulation of credit cards is the responsibility of the independent regulator, the Financial Conduct Authority (FCA).
You can find out more about what the FCA is doing to address problem debt on credit cards here:
www.fca.org.uk/publication/market-studies/ms14-6-3-credit-card-market-study-final-findings-report.pdf
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