More talk has occurred regarding credit card cheques. It was announced several months ago that the FTC would be looking for tougher regulations regarding credit card companies. With numerous complaints from credit card holders, the FTC decided they should address the credit card cheque issue. Credit card holders have been receiving these cheques in the mail without asking for them. It is actually a known process for the companies to send out these cheques. However, consumers are worried about fraud.

It is easy for fraudsters to get a hold of these cheques in the mail. They then make fraudulent charges on the cards. There is another issue besides fraud that has consumers worried. In the past credit card companies have not been exactly forthright regarding the charges these cheques actually incur. UK residents have about 233 billion pounds of credit card debt, overdrafts, and loans combined.

The Consumer Advocate is another association worried about this high debt. With the issues over the cheques both companies have sought to get a regulation passed. Now credit card companies are banned from sending out the credit card cheques unless the consumer asks for them. The cheques can be quite expensive because there is no interest free period for the use of the cheques.

Other issues credit card holders are facing are credit limit changes. In the last 12 months one in five credit card holders has seen their credit limit increased without asking for this increase. Other credit card holders have seen a decrease in their limit. Individuals who have not used their cards often are finding their limit reduced and their credit scores dinged for the action. Citizens Advice has asked that a helping hand be offered to consumers in order to answer the complaints they have been receiving. This is another reason for the formation of the White Paper to address credit card concerns.