It was rumoured that MasterCard International has came up with a genius idea of helping consumer to control their credit card spending.
Under the new service called InControl, the consumer is able to set limits on their cards to control their spending. For example, consumer can tell their card issuers on how much limits for several types of their transactions like restaurant bills, hotel bills and etc.
This new InControl service is believe can help the escalating debt problems faced by many consumers which had been the cause of many bankrupt cases. Similar kind of the service has been implemented by some banks in United Kingdom and has garnered some good reaction from the consumers.
Citigroup is expected to be first company to introduce this service to the consumers.
