INDONESIA - REGULATIONS - Credit card interest rate and fee must be detailed: BI

JAKARTA: Bank Indonesia requires credit card providers to be transparent in setting interest rate and charging fee to customers, following complaints from cardholders.

The revised regulation on payment using card states that providers must give clear details on interest rate and fee charged to customers in credit card application.

“Credit card providers must give explanation on interest rate and fee that is easy to understand for their customers. They should give explanation using diagram if necessary,” said Bank Indonesia Director of Accounting and Payment System Ronald Waas. (source)

INDONESIA - REGULATIONS - Oops .. Credit Card Restricted

REPUBLIKA.CO.ID, JAKARTA - Customer's credit card on the ground tar seems to be preparing to close the credit card. If it does not have a sufficient requirement to have this card. Bank Indonesia (BI) confirmed after the launch of Bank Indonesia Regulation (PBI) Using Payment Cards (APMK) this November, starting 2013 or later clients with income below Rp 10 million per month may only have a maximum of two card issuers only.

According to the Director of the Directorate of Bank Indonesia Payment System Ronald Waas stated that he has properly calculated and the brewing of this rule. "With the enactment of this rule, the customer may only have a maximum of four cards with a maximum ceiling of three times the amount of income," he said Tuesday (8 / 11). (source)