Petition · past parliament
Credit card providers to reduce interest rates to 5% for all accounts
Rejected
18 signatures
What the petition asks
Reduce the level of interest charged by credit card companies during the Corona virus outbreak inline with the reduction in Bank base rates.
Credit card companies should not be allowed to sustain profits and add to the burden of people suffering job losses and reduced incomes.
These companies do nothing except drain the economy of money in general circulation and tend to be used by those that can least afford it.
There will also be a substantial increase in credit card borrowing during these difficult times.
These companies do nothing except drain the economy of money in general circulation and tend to be used by those that can least afford it.
There will also be a substantial increase in credit card borrowing during these difficult times.
Why it was rejected
There was already a petition about this issue. Duplicates are rejected so signatures collect in one place.
You may wish to sign this petition calling for the same action.
Encourage lenders to suspend interest, fees and repayments during COVID-19: Encourage lenders to suspend interest, fees and repayments during COVID-19
Since starting this petition, many UK banks have announced measures to help people who are experiencing financial difficulties due to coronavirus. You should look at your bank's website or contact them directly to find out more.
You can read the Financial Conduct Authority's announcement on the temporary financial relief that banks can offer customers here: https://www.fca.org.uk/news/press-releases/fca-confirms-temporary-financial-relief-customers-impacted-coronavirus
You can find out more about coronavirus and how you can protect yourself and others here:
NHS website: https://www.nhs.uk/conditions/coronavirus-covid-19/
UK Government website: https://www.gov.uk/coronavirus
You can read NHS tips to help if you are worried about coronavirus here: https://www.nhs.uk/oneyou/every-mind-matters/coronavirus-covid-19-anxiety-tips
You may also be interested to know that because of the large number of petitions that have been started in relation to coronavirus, the Petitions Committee has been questioning the Government about its response to the coronavirus outbreak.
Find out more and watch the Committee put questions suggested by petitioners to Government Ministers and the Deputy Chief Medical Officer: https://committees.parliament.uk/committee/326/petitions-committee/news/145767/committee-question-deputy-chief-medical-officer-and-ministers-on-coronavirus-response/
Read correspondence with Government Ministers asking further questions: https://committees.parliament.uk/committee/326/petitions-committee/publications/3/correspondence/
Encourage lenders to suspend interest, fees and repayments during COVID-19: Encourage lenders to suspend interest, fees and repayments during COVID-19
Since starting this petition, many UK banks have announced measures to help people who are experiencing financial difficulties due to coronavirus. You should look at your bank's website or contact them directly to find out more.
You can read the Financial Conduct Authority's announcement on the temporary financial relief that banks can offer customers here: https://www.fca.org.uk/news/press-releases/fca-confirms-temporary-financial-relief-customers-impacted-coronavirus
You can find out more about coronavirus and how you can protect yourself and others here:
NHS website: https://www.nhs.uk/conditions/coronavirus-covid-19/
UK Government website: https://www.gov.uk/coronavirus
You can read NHS tips to help if you are worried about coronavirus here: https://www.nhs.uk/oneyou/every-mind-matters/coronavirus-covid-19-anxiety-tips
You may also be interested to know that because of the large number of petitions that have been started in relation to coronavirus, the Petitions Committee has been questioning the Government about its response to the coronavirus outbreak.
Find out more and watch the Committee put questions suggested by petitioners to Government Ministers and the Deputy Chief Medical Officer: https://committees.parliament.uk/committee/326/petitions-committee/news/145767/committee-question-deputy-chief-medical-officer-and-ministers-on-coronavirus-response/
Read correspondence with Government Ministers asking further questions: https://committees.parliament.uk/committee/326/petitions-committee/publications/3/correspondence/
Timeline
| 21 Mar 2020 | Petition opened for signatures |
| 15 Apr 2020 | Rejected by the Petitions Committee |
Key facts
Signatures
18
Status
Rejected
Rejected
15 Apr 2020
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Source: the official petition page. Last checked 15 Jul 2026.