moneysupermarket.com responds to John McFall assessing progress into the transparency of credit card charges

In response to John McFall, Chairman of the Treasury Select Committee assessing progress into the transparency of credit card charges, Stuart Glendinning, director of credit cards at moneysupermarket.com had this to say:

(PRWEB) August 1, 2004 -- "There are some useful points in terms of simplifying the summary box and improving the information supplied with the monthly statements and ensuring the payment protection insurance is only sold to those who may benefit from it. However, there is a hectoring tone to the letter and it seems like another example of providers being subjected to pressure to simplify and standardise how they sell their products.

"From my perspective, I cannot see why providers should be forced to share data on customers with other credit card companies. Personally, I would not want my credit card provider to share details about my circumstances with other companies that I do not conduct business with.

"As ever, the onus should be on the consumer to understand the products they are taking advantage of and sites like moneysupermarket.com represent an excellent way for the consumers to stay empowered."

moneysupermarket.com is a website where consumers can compare the cost of 1000s of personal finance products and save money. Stuart Glendinning is a director of moneysupermarket and is an independent commentator on the credit card sector [http://www.moneysupermarket.com/cards/credit_card.asp

###