A Parliamentary report into the use of credit cards has called on banks to take better care of customers who struggle to meet repayments.

A Senate committee has made 11 recommendations, including forcing banks to advertise more information about the ongoing costs of credit cards, as well as establishing a Productivity Commission inquiry.

The Labor-led report has also called on banks to make it easier for consumers to switch credit card providers, and to make reasonable attempts to contact a cardholder if they are struggling to meet minimum repayments.

The committee has heard evidence that increasing consumer awareness about credit cards could help improve competition and put pressure on interest rates and fees.

It has recommended an expansion of financial literacy programs and that the Government considers a minimum repayment requirement for all credit cards.

Labor senator Sam Dastyari said the report was a "wake-up call" for the big banks and for the Federal Government.

"This industry has been a rort," Senator Dastyari said.

"Australians have been gouged and continue to be gouged by exorbitant rates, and exorbitant fees and half-hearted measures from the government are not going to be solving.

"It's time to take decisive action. We have to stop pussyfooting around this issue."

In a statement, Government senators in the committee said they had already commenced addressing some of the 11 recommendations, including legislating a ban on surcharges that exceed the "reasonable costs" faced by merchants in accepting cards.

The Coalition has expressed an interest in one specific recommendation, which would allow consumers to keep their credit card account numbers when switching banks, saying it bears "further investigation".

But the Coalition has cast doubt on one proposed change, which involves developing "a system that informs consumers about their own credit card usage and associated costs", claiming it could be unduly prescriptive.