Consumer Credit Act

The Consumer Credit Act 1974 requires most businesses that offer goods or services on credit or lend money to consumers to be licensed by the OFT. Trading without a licensing arrangement is a criminal offence and can result in a fine and/or imprisonment.

The Act also requires certain credit and hire arrangements to be set out in a particular way and to contain certain information.

For information on consumer credit licensing agreements, including application forms, go to the Licensing area of the site.

The information on the pages listed below is outline only. Any legal views expressed in these pages or in any OFT guidance mentioned are those of the OFT. Only a court of law can give a definitive legal view on the meaning of the provisions of the Act or any legislation related to it. To find out your rights under the Act or other legislation you should obtain legal advice.

For general enquiries and guidance on the work of OFT, please phone us on 08457 22 44 99 or email enquiries@oft.gsi.gov.uk.

Consumer Credit Act 1974

For general information on the Consumer Credit Act 1974, please see the pages below.

• Pre-contract information 
• Credit and hire agreements
• Post-contract information
• Credit charges and APR
• Early settlement
• Exempt agreements
• Brokerage fees
• Equal liability
• Credit advertising

Consumer Credit Act 2006

For general information on the changes introduced by the Consumer Credit Act 2006, please see the pages below.

• Alternative dispute resolution scheme
• Consumer Credit Appeals Tribunal
• Indefinite licences
• Information sheets
• Investigation and information-gathering powers
• New licence categories
• Notifying changes in information
• Reformed fitness test - credit competence
• Requirements and penalties
• Unfair relationships

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