According to financial services news, the Financial Services Authority (FSA) will launch a new independent website that allows consumers to compare credit cards . The decision by the city watchdog is in response to Office of Fair Trading (OFT) calls to make the credit card market fairer.
The credit card site will allow consumers to understand more about shopping around for credit cards and how to get a competitive quote. Consumer group Which? prompted the investigation into credit cards .
The chief executive of the OFT was reported as saying: "No one wants to throw money away, but consumers who don't shop around for credit cards are doing just that. It is essential that consumers are given the right tools to make comparisons between credit cards more easily, and we can achieve this through some of the recommendations announced today which have received widespread support."
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Credit card file from Watchdog
Mon, 11 Feb 2008
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