New Clause 1 - Credit-token specification
Consumer Credit Bill
3:44 pm
Mr Malcolm Bruce (Shadow Secretary of State for Trade & Industry, Trade & Industry; Gordon, Liberal Democrat)
I am sympathetic to most of what the hon. Gentleman has said about credit card cheques. However, there are circumstances in which they are relevant, and I am not sure whether his clause would cut against those. For example, one might purchase a significant item, within one's credit limit, for which the provider will not accept credit card payment. Presumably one could use the cheque and effectively get a credit card payment, which would suit one's purpose. I agree with most of the other strictures about credit card cheques. However, is that not a legitimate use, and would his clause adversely affect that?