Warnings on CC statements

[altyfc]

I heard on the news this morning something about it being made law that warnings would be printed on CC statements if interest rates on their cards were high. The warning would read something like "This is a high rate. There are much better rates available with other companies."

What do you think will happen?

Will the banks just start to charge below the stipulated rate where this comes into force?

Will people change cards, in the light of these warnings?

Is it a good thing, or should people just take more responsibility themselves?
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[ablaye]

I have not heard this news. Where do u live??? In the United States or Europe???
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[altyfc]

I'm in the UK.
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[MikeH]

I did hear something about this but not sure whether it is destined to become law. Why can't all service providers put up signs or warnings-

Please be aware we are not the cheapest supplier of Guinness or Stella in this area.
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[altyfc]

Yes, it could get a bit ridiculous, couldn't it? Surely, it's up to Joe Public to do the research and find out whether he or she is getting the best deal?
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[MikeH]

Absolutely. Its not rocket science these days. Just go online and you should have the cheapest supplier in a few minutes.
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