UK payments association Apacs has brokered a deal between its credit card issuing members for them to share a greater wealth of customer information. Up to now credit card companies have shared data on customers' balances, credit limits and whether their payments are up to date. From December, Barclaycard, Capital One, GE Money, HBOS and MBNA will share data on customer behaviour to get a better idea on whether a customer is likely to be able to repay their balance. Apacs claims the move is in line with the revised Banking Code that was updated in March this year and underlines the industry's commitment to responsible lending. New data covered by this sharing agreement will include information on the amount of a customer's last payment, whether it was only the minimum payment, changes to credit limits, the extent to which a customer withdraws cash on their account and if the customer signed up to any promotional deals. Apacs said the last category is important because it indicates whether a customer is making the minimum repayment because they are in financial difficulties or they have the means to repay the account but chooses not to because of a promotional deal. Apacs head of card payments Paul Rodford said the new data sharing will enable lenders to intervene, at an earlier stage, on behalf of those having difficulties with their debts and ensure they aren't given further credit. According to Apacs, more credit card issuers will enter the agreement as their IT strategies allow.

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