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Lula signs decree to change credit cards for people with CPFs from 0 to 9!

Lula signs decree to change credit cards for people with CPFs from 0 to 9!

The final punishment for Federal Law No. 14,690/23 This brings fundamental changes in the operation of revolving credit in Brazil for all citizens, from CPF 0 to 9. Legislative movementunder the leadership of the president Luiz Inacio Lula da SilvaThe aim is to balance financial justice and create better credit conditions for Brazilians.

The new regulations on revolving credit, previously known for high interest rates, are a positive change that will transform the way consumers manage their personal finances.

What will change with the new regulations for revolving credit?

With the new law, the interest on revolving credit has a specific maximum: it may not exceed twice the original amount of the debt. This means that if the consumer 100 BRL credit card debtThe total, including interest and costs, may not exceed R$200. This measure is intended to prevent Brazilians from accumulating unpayable debts, which will ensure more efficient financial control.

How can a reduction in interest rates benefit the average citizen?

This new legislation comes in the context of Where interest rates are astronomicalthat could have been achieved earlier 431.6% Every year, many consumers get caught in a vicious circle of debt. Such as New limitIt is expected that more Brazilians will be able to get out of debt in a sustainable way, without seriously compromising their income and quality of life.

How important is debt portability in the new context?

The law also provides for a debt transfer mechanism, allowing consumers to transfer their outstanding credit card balances from one institution to another, without incurring additional fees. July 1, 2024.

This initiative stimulates competition between financial institutions, allowing consumers to choose options with more favorable interest rates. This flexibility is essential to improve consumers’ financial decision-making process.

New credit card law: limited benefits, more power for the consumer

a Federal Law No. 14,690/23This law, which came into effect on January 3, 2024, brought about major changes in the area of ​​revolving credit, with an emphasis on consumer protection and combating excessive debt.

1. Main benefits of the new law:

  • Limited interest: The interest on revolving credit is now limited to 100% of the amount of the debt. This means that you pay a maximum of the original amount of your debt in interest.
  • More competition between banks: The new law encourages competition between financial institutions, which could lead to lower interest rates and better credit terms for consumers.
  • Greater freedom of choice and financial control: Lower interest rates and clearer information about costs and fees give consumers more choice and control over their finances.

2. Impact on consumer’s life:

The new credit card law is a major step forward in consumer protection and financial fairness. With limited interest rates, consumers can avoid excessive debt and have more peace of mind when using their credit cards. In addition, increased competition among banks could lead to better credit terms for everyone.

Increase Your Credit Card Limit: Tips and Strategies to Get More Credit in 2024!

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Want to increase your credit card limit and gain more purchasing power? With the new credit card rules, this can be a great opportunity to take advantage of the best conditions and take advantage of interest rates. Check out some tips:

1. Increase credit limit: Good payment history:

Pay your bills on time and avoid delays. This shows financial responsibility and increases your chances of getting the maximum.

2. Increase your credit limit: Concentrate your spending on the card:

Use the card for most purchases, always within your budget. This shows the bank that you need a higher limit.

3. Increase credit limit: Updated data:

Make sure your registration information, such as income, address and telephone number, is current with your financial institution.

4. Increase your credit limit: Prove your income:

Inform the bank of a salary increase or a new source of income. Send recent receipts to prove your ability to pay.

5. Increase credit limit: Use of open finance:

This tool allows you to share your financial data with other institutions, demonstrating your financial health and increasing your chances of a higher limit.

6. Increase Credit Limit: Request for increase:

Contact your credit card company and request an increase in your limit. Explain the reasons for this and provide proof of your income.

7. Increase credit limit: Patience:

The analysis process may take some time. Please continue to use your card responsibly while you wait for a response.

Remember as: Each financial institution has its own criteria for granting limit increases. Check with your credit card company for the requirements and application process.