Guidelines which will see credit card applicants provided with more information shows that the industry is committed to transparency, according to one expert.
Michelle Whiteman, corporate communications officer at payment association Apacs, explained that a box featuring details about credit cards will have to feature on all marketing material from later this year.
According to the expert this will help people compare different credit cards "and take advantage of the competitive deals available, when shopping around for a credit card ."
Consumers can also expect similar moves in future, as the credit card industry is committed to "transparency and responsible lending," she added.
Recently, the Abbey Zero credit card was named Best New Credit Card Product of the Year.
The offering was given the award at the 2009 annual Cards Awards ceremony.
According to Roger Lovering, managing director of credit cards at Abbey, the product had to beat off some stiff competition to take the top spot.
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New guidelines provide credit card applicants with more information
Tue, 17 Feb 2009
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