A new month is approaching and with it, new rules on Credit Cards. Changes will start to take effect from July 1st, so you can get to know the changes and adapt to them until then.
One of the new features is the debt portability; see how this feature will work.July comes with changes in credit cards; see what the new rules are (Image: Jeane de Oliveira/ FDR).
After adjusting the interest rate limit, new changes will be applied to credit cards from July 1st. The changes were announced by the Central Bank and will affect all card users, regardless of the flag.
The changes are the result of the Central Bank’s actions to reduce the over-indebtedness of families, a situation in which the individual recognizes that they cannot afford to pay their debts.
Changes in credit cardsEarlier this year, the government put into practice a new cap on revolving interest. The measure was designed to prevent a $100 bill from turning into a $1,000 one, for example.
The measure was designed to prevent a $100 bill from turning into a $1,000 one, for example. Now, one of the changes that should please consumers the most is greater transparency in the bills.
Now, bills must contain information such as total amount, due date, total credit limit, payment options, additional information, among others.In the additional information, bills must present the interest rate and charges in detail.
Consumers will also be able to check if they have entered the revolving payment, which is the main villain of bills.which is the main villain of bills.
Companies will also have to send the account holder, at no cost, information about the bill due date two days before.
Debt portabilityA new feature that should please consumers is debt portability.In this system, the consumer can choose whether to transfer their debt to another bank.For this, they will be able to analyze the interest rates and charges applied.
