The Bank of Portugal (BdP) decided to keep the maximum interest rate applicable to credit cards at 18.5% during the last quarter of the year.
This decision means that consumers will continue to be protected by this maximum interest rate limit, which aims to prevent excessive debt associated with the use of credit cards.
The BdP is the entity responsible for setting these maximum interest rate limits, reviewing them quarterly in accordance with market conditions and the evolution of the Portuguese economy.
The maintenance of the rate at 18.5% indicates that the regulator did not consider it necessary to change the current conditions for consumer protection in this area of consumer credit.
