Consumer Council wants ban on credit card bonuses

credit card Strip Club Payment cardPayment cards. Photo: pixabay.com

The Consumer Council believes bonus plans for air travel and other credit card discounts stimulate more debt collection. They therefore want a ban on the bonuses.

 

The reason is that bonuses are increasing to encourage customers to use credit cards over other cards, said Finance Director, Jorge Jensen, of the Consumer Council to NRK news.

NRK reported that in 2017, Norwegians broke records for using credit cards, to a total of NOK 336 billion. This is an increase of 7%.

‘’The International Monetary Fund, the World Bank, and Norges Bank have pointed out that the debt in Norwegian households is too big,’’ Jensen told NRK.

He believes that a ban may be in place shortly because the government is working on a new finance agreement that is likely to be addressed in parliament during the year.

“The Consumer Council is working for the government on a new finance agreement to include a ban on additional credit card services,” he said.

 

© NTB scanpix / #Norway Today

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