The contract shall be established and be given to you during the initial subscription of your credit. A contract shall be established each time you request an increase in your credit. It shall specify the date, the name and address of the lender, your name and address, the credit repayment (levy on bank or postal or check remittance), the amount of credit allowed, repayment terms.
Warning: The total cost of credit depends on the use you make; it varies according to the amount and duration of the overdraft effective on your account. It cannot be you announced the signing of the contract. It should be vigilant about the annual interest rate (APR: Annual Percentage Rate) which includes all the costs of your loan (fees, costs of credit card).
Credit cards are:
- Whether private cards accepted only by a sign or group of signs, they are also often used as loyalty cards (this is the case in department stores or hypermarkets).
- Either accepted cards in the same way as a conventional bank card supported on the interbank network national or international network.
In all cases, the words “credit card” must be specified in legible characters on the front of the card.
Loyalty cards that don’t allow a credit payment are prohibited. Indeed, the cash payment via credit card and / or loyalty associated with revolving debt becomes the rule. It is only by express agreement that consumers pay on credit. By default, this function is the cash payment of the loyalty card that is activated. Therefore, the consumer receives promotional benefits associated with the card business without having to use the associated revolving debt.
Information during the contract
The lender must send you each month before your payment deadlines, a document which contains in particular the fraction of capital that you can still use, the amount of maturity in distinguishing the part corresponding to interest, the total amount payable, the repayments already made highlighting the share paid in respect of capital and paid in respect of the interest and other charges.
The contract is a one year renewable contract; the lender must give you three months before the expiry of the terms of the contract renewal. If these new conditions do not suit you, you can oppose to 20 days before their implementation by returning a reply slip that the lender has attached to its new conditions. In this case, you will repay the amount of the reserve already used to the old conditions but without being able to re-use your line of credit.