Barclays have come under criticism from debt charity Credit Action for planning to release a new trial version of a credit card which would allow borrowers to have a credit limit of £25,000.

The card is called the ‘Freedom’ credit card and is promoted with the catch phrase: ‘If is see something I want, I need to be able to act quickly and not have to wait to arrange finance, or be stuck with a high rate of interest.’

While the card charges a rate of 14.9% on any balance that is not cleared before the end of the month any outstanding balance can be moved to a 6.6% personal loan facility on the proviso that customers agree to pay a set amount each month for a period of between three months and seven years.

Most people could not afford to pay off a balance of £25,000 each month so it is suggested that Barclays is trying to get people to take out large loans but pay higher interest rates on them.

The card is to go on general release in the very near future exclusively through the finance comparison website MoneyExpert.com. A spokesman for MoneyExpert.com has pointed out that 6.6% is a very competitive rate and is aimed towards people who want to make a large purchase or consolidate a lot of smaller loans.