Section 10: Revolving credit

Where the revolving credit is accompanied by a card giving entitlement to benefits of any kind, the benefit of these benefits may not be made conditional on payment on credit.In this case, the creditor or credit intermediary is obliged to offer the consumer the option of paying in cash with this card.Any dematerialised means of payment ancillary to a revolving credit is treated as a card. .

The use of credit results from the consumer’s express agreement expressed at the time of payment or within a reasonable period of time, on receipt of the updated statement at the time of performance of the credit agreement provided for in Article L. 312-71.

Where a payment card issued by a credit institution is associated either with a deposit account and a revolving credit facility, or with a payment account and a revolving credit facility, the use of the credit facility results from the consumer’s express agreement expressed at the time of payment with the card or within a reasonable period of time, on receipt of the updated statement of performance of the credit…

The creditor shall provide to, by any means, monthly and within a reasonable time before the payment date, an updated statement of the performance of the revolving credit agreement, making clear reference to the previous statement and specifying: 1° The date on which the statement was drawn up and the date of payment; >The fraction of capital available 3° The amount of the instalment, including the portion corresponding to interest;…

In the event of a revision of the borrowing rate, the lender shall provide this information in advance to the borrower on paper or any other durable medium before the effective date of application of the new rate. The borrower shall have a period of thirty days after receipt of this information to refuse this revision by written request to the lender. In this case, the borrower’s right to credit…

Where, pursuant to the provisions of the first paragraph of Article L. 312-34, the borrower repays the entire amount of the revolving credit early on his or her own initiative, no early repayment indemnity may be claimed.

The capitalisation of interest is subject to the provisions of article 1343-2 of the Civil Code.