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Government reveals new credit card rights
The government has announced new rights for consumers who regularly make use of credit cards.
Under the terms of the agreement between MPs and credit card companies, Brits will have access to better repayment plans, while those in financial difficultly will not be faced with credit limit or rate increases.
It is hoped the new regulations will save customers around £300 million a year.
Prime minister Gordon Brown said the plan was key to moving "the balance of power back towards consumers".
He added: "These new rights will put an end to the irresponsible lending practices that people have been most concerned about, and help cut the cost of borrowing."
Financial services firm Scottish Widows recently launched the new Your Little Book of Money 2010 guide, which is designed to help consumers understand the latest issues affecting loans, credit cards and investments.
It has been launched online in order to meet increased demand for web-based services.