LONDON, April 3 (Reuters) - Britain's financial watchdogsaid it would launch a competition review into the 150 billionpound ($250 billion) credit card market to assess if people infinancial trouble are being treated fairly.
The Financial Conduct Authority said on Thursday 30 millionBritons hold at least one credit card and it would explorewhether competition in this market was working effectively forconsumers, especially those in difficult financial situations.
It said it would launch the review at the end of this year.
The FCA said recent research showed 9 million Britons wereconsidered to be in serious debt and that a considerable numberof people, "survival borrowers", often feel they have no optionbut to borrow money, through a payday loan or using a creditcard, to help pay their bills.($1 = 0.6012 British Pounds) (Reporting by Steve Slater; Editing by Huw Jones)
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