Petition credit card debit converted to standard loan

More details

If a credit card is not renewed, by the lender, or the holder, the outstanding debt is effectively converted into a loan. The interest rate should be reduced to the standard personal loan rate prevailing for the bank or lender.

Banks can stop credit cards from being used but continue to charge extortionate interest rates on the outstanding balances. They've already got their heavy interest, shouldn't the borrower be allowed to just pay off the original debt plus a reasonable amount of interest considering the BofE base rate?

This petition closed early because of a General Election

4 signatures

Progress of the petition towards its next target: 4 of 10,000 signatures required to get a government response

Show on a map the geographical breakdown of signatures by constituency

10,000 signatures required to get a government response

Date closed 30 March 2015
Get petition data (json format)

About petition data

The data shows the number of people who have signed the petition by country as well as in the constituency of each Member of Parliament. This data is available for all petitions on the site. It is not a list of people who have signed the petition. The only name that is shared on the site is that of the petition creator.