New Law on Credit Card Transactions

New law followed a warning of the Croatian National Bank (HNB), which stated the banks should take care of the extent of debts.

A new legal regulation of credit card business transactions and credit financing via credit cards is being prepared, following a warning by the Croatian National Bank (HNB), which stated banks should take care of the extent to which someone is indebted.

Credit card debts of 3,74 billion kuna

According to HNB information, at the end of October 2006, loans via credit cards amounted to 3.74 billion kuna or 2.05% of loans banks ratified in total. As we are dealing with real loans, the logical question is whether they will be included in the credit registry and if the financial reliability of the person indebted will determine regular payments.

Only classic credits at the Registry for now

The Croatian Banks Association notes that only classic loans are available at the Registry. Indebtedness via bank credit cards will be entered in the credit portfolio of the bank, which means it will also be noted in the Registry.