LONDON: Britain's financial watchdog will investigate the 150 billion pound ($250bn) credit card market to assess if “survival borrowers” who find it difficult to repay are being treated fairly, it said on Thursday.

The decision by the Financial Conduct Authority (FCA) comes just two days after the year-old watchdog took over supervision of Britain's consumer credit market with its 50,000 firms.

The watchdog said 30 million Britons hold at least one credit card, such as those issued by high street banks, and it would explore whether competition in this market was working effectively for consumers, especially those in difficult financial situations.

It said it would launch the review at the end of this year with a focus on those who are barely able to pay the minimum amounts each month. —Reuters