The BCRA provided that if expenses were made for more than US$ 200 and the entire summary is not paid, the balance will be financed by applying the rate regulated by the law of credit cards issued by financial entities. Currently that rate ranges between 62 and 85%.
Meanwhile, the financing of summaries of up to $200,000 per month will maintain the maximum rate set by the BCRA, of 62%. This is an increase given that until now the rate was 51%.
The maximum rate for credit card financing is regulated by the BCRA to prevent abuse by banks.
The new measure leaves financial entities free to charge the rate regulated by the credit card law.
The monetary authority pointed out that “financial institutions must notify cardholders before applying this measure.”
This new measure is added to those already adopted by the government in search of limiting the financial possibilities of sectors with high purchasing power.
Source: Ambito
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