Credit card users 'should take debt responsibility'

People should aim to avoid getting into large amounts of credit card debt by opting to follow careful money management practices, according to one financial expert.

Informed Choice's Martin Bamford believes that regulations can only go so far when it comes to stopping consumers from running up against money worries.

Mr Bamford, a chartered financial planner at the organisation, commented: "Whilst industry guidelines or legislation can protect borrowers, it is individual borrowers who really need to take responsibility for their debts and manage their finances carefully to avoid getting into trouble."

The expert, who also acts as the Institute of Financial Planning's Surrey region chairman, went on to say that ministers should consider taking action to create more consumer-focused legislation that relates to the UK credit card industry.

Meanwhile, a number of proposed amendments to help improve the credit card industry have recently been outlined by the UK Cards Association.

Posted by Tom Burroughs.