Credit card companies are set to play good Samaritans by helping those who find themselves struggling to pay their debts.

One of the ways credit card companies plan to assist its consumers is by cutting interest further than they have before. They have also stated that borrowers struggling to repay payments will get extra time to get back on their feet, as much as 30 days if the borrower is actively seeking advice form a debt agency.

Consumer Affairs Minister Gareth Thomas stated, "The government is deeply concerned that borrowers aren't getting a fair deal. That's why we've taken swift action to bring the industry in to look at how costs are being applied to people's existing debts."

Latest statistics show £33.2bn was spent on credit cards this quarterly while £31bn of repayments were made. The average amount spent in a credit card transaction is about £65.