Britain's biggest debt charity, CCCS has welcomed evidence of progress in the Government's response to the Treasury Select Committee's report on the transparency of credit cards charges published today (June 29). At the same time, CCCS warned that it may not be enough.

Commenting on the report, CCCS chairman, Malcolm Hurlston, said:

"This is a soft response from the Government which may not turn away the wrath of the Treasury Select. To take one example, minimum payments requires a 'smoking kills' style of warning not industry gobbledegook."

At the moment, the credit industry has proposed the following wording on statements about re-paying the minimum amount:

Only ever making the minimum repayment will significantly increase the time taken to clear your balance and cost you more.

CCCS says this is poorly drafted and short on impact. It would prefer to see much clearer and more succinct wording along the lines of:

Warning - minimum repayments lead to serious debt.