Standard European Consumer Credit Information

The amendment to the Consumer Protection Act, which entered into force on 1 December 2010, requires that customers receive the key information on the credit agreement and consumer rights on the Standard European Consumer Credit Information form so that they can read them through before concluding a credit agreement.

A separate form has been drafted for each card credit. The information on the forms is given with "typical values", which means that, for example, the annual percentage rate of charge (APR) has been calculated with one (1) year's repayment period assuming that the credit amount in use is 1,500 euros.