OFT's shy response to Which?'s super-complaint

As the Office of Fair Trading (OFT) announces its response to Which?’s super-complaint into credit card interest calculation methods,Peter Vicary-Smith, Chief Executive, Which?, says: “We presented the OFT with a simple problem - that multiple interest calculation methods were preventing consumers from picking the best credit card - and instead of tackling this head on it has chosen to do a wider review.

“While this is a positive step, why not take the bull by the horns and address this super-complaint first? We can only be sceptical about the OFT’s proposed negotiation plans with the industry - with no legal threat and no ambitious goals what can the OFT expect to achieve?

“Perhaps this demonstrates that a super-complaint to the OFT was not the right platform to achieve a breakthrough on this issue.”