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Publication Detail
PB2011-08: Revisiting Interest Rate Policies on Credit Cards

There are about 10 bills filed at the House of Representatives seeking to set ceilings on interest rate and other charges on credit card transactions. The primary objective of these bills is to protect consumers, particularly those who have difficulty in settling their piled up credit card debt. The focus of this paper will be on the merits and drawbacks of putting a cap on interest rate charges of credit card bills. In particular, the experiences of other countries which have introduced the same regulation will be cited to support or counter the various arguments. A brief background of the credit card industry will be discussed to provide the context for the analysis. Some concluding remarks will be given at the end of the paper.

Congressional Policy and Budget Research Department
Authors Keywords
Miral, Emmanuel Jr.; Sawali, Rosemarie R.; Aquino, Manuel P.; banking system; Philippines; interest rate policy; credit cards;
Download PDF Number of Downloads
Published in 2011 and available in the HOR Library or Downloaded 405 times since October 08, 2015
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