Petition Tax Excessive profits by credit card companies

Credit card comapnies have made exorbitant profits based on short term debt, aggressive advertising and exceptionally high ( often 10x ) interest rates

A great many people are now trapped with debt that cannot be repaid and are stuck with interest rates equivalent to back street loan sharks - sometimes as high as 28 - 40% APR. Most of these companies continue to advertise and encourage the less well off or less financially astute to take on short term debt without clearly explaining the consequences

Rather than attack credit card customers directly I urge the government to consider a windfall or "profiteering" tax on credit card companies equivalent to 10% of their annual UK income to encourage them to behave in a more socially acceptable manner