The revolving credit card is a card that allows deferred payment, i.e. in installments, spread over several months.

The real interest rate on revolving cards is generally higher than other types of financing. In addition, involves any other additional costs such as annual membership fees and ATM withdrawal fees.

The Banca d'Italia he published the Credit supervisory guidelines. “revolving” with the aim of drawing the attention of intermediaries to the main problems that characterize this sector in relationships with customers and promote behavior aligned with the rules and correct towards consumers.

ANSA Economy
Bank of Italy, critical issues in revolving credit, now new practices

Caution!!!

According to some estimates of Bank of Italy, the average interest rate applied on revolving cards corresponds to 17%. In some cases we are beyond 21% (below the usurious rate).

Alex Gaetani