FCA publishes outcome of testing behavioural remedies to address under repayment of credit card debt

[Legal Beagles]

The FCA has published the outcome*of a programme of behavioural research. The research looked at different ways repayment options can be presented to credit card customers to encourage those making low repayments to repay more when they can afford it.

https://www.fca.org.uk/news/news-sto...edit-card-debt

[Amethyst]

So removing the minimum monthly payment amount reqd from the payment screen caused more card customers to pay higher amounts ... I'd guess that it needs some kind of fail safe so if the customer guessed lower than the minimum monthly payment required they'd get a warning which did actually tell them they need to pay £x more to ensure the minimums been covered ? ( haven't read full report so it's probably in there already )