Rejected petition Insist credit card firms reduce their interest rates to zero during the pandemic

Rejected on 15 April 2020

During the financial crisis we all bailed out the banks. Surely it is now their turn to support those who are struggling to repay credit card debt and reduce their sky high interest rates to 0% ,as well as dispense with the minimum monthly payment, for at least the duration of this pandemic

The Financial Services industry is hardly covering itself in glory in these difficult times, what with hedge funds making billions on share price falls. This would be something to help ordinary families in this crisis.

Why was this petition rejected?

There’s already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.

You are more likely to get action on this issue if you sign and share a single petition.

You may wish to sign this petition calling for the same action.

Encourage lenders to suspend interest, fees and repayments during COVID-19: https://petition.parliament.uk/petitions/305297

Since starting this petition, many UK banks have announced measures to help people who are experiencing financial difficulties due to coronavirus. You should look at your bank's website or contact them directly to find out more.

You can read the Financial Conduct Authority's announcement on the temporary financial relief that banks can offer customers here: https://www.fca.org.uk/news/press-releases/fca-confirms-temporary-financial-relief-customers-impacted-coronavirus

You can find out more about coronavirus and how you can protect yourself and others here:

NHS website: https://www.nhs.uk/conditions/coronavirus-covid-19/
UK Government website: https://www.gov.uk/coronavirus

You can read NHS tips to help if you are worried about coronavirus here: https://www.nhs.uk/oneyou/every-mind-matters/coronavirus-covid-19-anxiety-tips

You may also be interested to know that because of the large number of petitions that have been started in relation to coronavirus, the Petitions Committee has been questioning the Government about its response to the coronavirus outbreak.

Find out more and watch the Committee put questions suggested by petitioners to Government Ministers and the Deputy Chief Medical Officer: https://committees.parliament.uk/committee/326/petitions-committee/news/145767/committee-question-deputy-chief-medical-officer-and-ministers-on-coronavirus-response/

Read correspondence with Government Ministers asking further questions: https://committees.parliament.uk/committee/326/petitions-committee/publications/3/correspondence/

We only reject petitions that don’t meet the petition standards.