Petition Limit credit cards to 10% of annual salary preventing people getting into debt.

Limit credit card limits to 10% of a persons annual salary to prevent people getting into debt they cant possibly afford.Also limit overdrafts to 5% of a persons annual salary for same reason, that way at any one time someone cannont have more than 15% of their salary on short term borrowing.

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Make banks and loan companys accountable to carry out checks to see what other loans or credit a person has before issuing cards with high limits also ban the automatic increases that credit cards put on card annually, additional limits should have to be applied for not automatically given.Increase the minimum payments to 5% of the cards total as a bare minimum repayment each month.

This petition is closed This petition ran for 6 months

12 signatures

Progress of the petition towards its next target: 12 of 10,000 signatures required to get a government response

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10,000 signatures required to get a government response

Date closed 7 March 2016
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