Reply #2: The credit card companies only means of control is the ability to damage consumer`s credit ratings

[percussivemadness]

Remove that, remove all previous submissions to people`s credit reports, watch them come into line. Its very difficult to threaten someone when you don`t have the means to hurt them.

Harcore regulation has its place, but it is also cumbersome and lengthy. This is a 2 line law that would stop them in their tracks whilst the stricter regulation was being drawn up...