2023-11-21 04:36:00
Entities representing national retail companies should launch a campaign called “Parcel Yes!” this Tuesday (21). The manifesto’s mission is defend interest-free installments on purchases made via credit card.
According to the associations, this modality is used by 75% of the population and 90% of retailers, and if the model is taxed, 42% of Brazilians must reduce their spending by half.
The movement is non-partisan, but aims to sensitize political authorities from the Executive and Legislative branches to prevent the economically active population and retailers from being vilified by large banks.
The movement was born after the president of the Central Bank, Roberto Campos Neto, defended that interest-free installments on credit cards be limited to 12 installments.
Although retailers defend the maintenance of the current installment system, representatives of the banking sector claim that it is responsible for the high interest rates on credit cards. For them, it is necessary to differentiate by product line, in addition to limiting the interest-free modality.
A durable good, such as a refrigerator, stove, air conditioning, could be sold in a greater number of installments. A semi-durable item, such as clothing or electronics, would be sold with a shorter period of time. The model defended by banks also intends to differentiate interest rates.
If the customer pays in 10 installments, the rate is higher. When he pays in six installments, the interest is lower, something similar to a “ladder”.
These discussions are taking place amid the debate about the likely extinction of the card’s revolving credit, which is activated every time the consumer pays only part of the bill by the due date. The average interest rate charged by banks on revolving credit card operations was 445.7% per year in August.
However, representatives of the federal government believe that the end of the revolving system should not reduce interest rates.
With the end of the revolving system, the customer would be directed to a more “accessible” installment system, but there is a lot of distrust of the banks’ proposal.
While the Central Bank does not make a decision on the matter, retailers must continue to press against the change. The national president of Sebrae, Décio Lima, told R7 that interest-free installments are an essential pillar of commerce.
Interest-free installments are good for those who buy and are good for those who sell. Most entrepreneurs use this modality to gain momentum in working capital. For the poorest population, who need to buy food, medicine or household appliances, it is an irreplaceable credit tool as it is the only interest-free tool in the country. For all of this, we are together in the campaign in defense of interest-free installments.
Proteste is also part of the movement and sent a note to the president of the National Monetary Council (CMN) and the Minister of Finance, Fernando Haddad, criticizing the end of interest-free installments.
It is worth remembering that a recently released survey showed that Brazilians, even those who make international purchases, prefer interest-free installment payments via credit card.
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