Stamp out toxic credit practices, says Which?

As the Prime Minister announces a clamp down on irresponsible lending by credit card companies at the Which? Listening to Consumers event in Westminster today, Peter Vicary-Smith, Chief Executive, Which? says: "Credit card companies have been allowed to get away with encouraging people to spend more than they can afford for far too long. Sending people unsolicited credit card cheques and extending their credit limits without being asked, in the hope of tempting them to overspend, is not just irresponsible - it's immoral.

"Stamping out these toxic credit practices is a clear victory for consumers. After six years of Which? campaigning against unsolicited credit card cheques, it's heartening to hear that the Government will now act.

"If the Government moves quickly to stamp out these temptation tactics, it will send a clear message that there is no going back to the irresponsible lending of the past."