Advertising concerning the advantages of any kind offered by the card associated with a revolving credit indicates to the borrower the terms and conditions under which this card allows payment to be made in cash or on credit and informs the borrower of the terms and conditions for using the credit.
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 advertising for that card shall inform the consumer of the terms and conditions of use of the credit.
When a consumer is offered, at the point of sale or by a means of distance selling of goods or services, a revolving credit agreement to finance the purchase of specific goods or services for an amount exceeding a threshold set by decree, the creditor or credit intermediary shall accompany the revolving credit offer with an amortisable credit proposal.
Retailers offering a programme with benefits of any kind and including credit also offer the consumer another programme with benefits of any kind not linked to credit.
When a revolving credit facility is opened, a credit agreement, on paper or any other durable medium, must be drawn up for the conclusion of the initial credit and, under the same conditions, for any increase in that credit granted subsequently.
In addition to the compulsory information set out in article L. 312-28, the credit agreement stipulates that each instalment must include a minimum repayment of the capital borrowed, which varies according to the total amount of credit granted and the terms of which are defined by decree.
Where the revolving credit is accompanied by a card entitling the borrower to benefits of any kind, the credit agreement shall indicate to the borrower the terms and conditions under which this card offers the possibility of paying in cash or on credit and shall inform the borrower of the terms and conditions for using the credit.
Where a credit card is associated with the contract, the words: “credit card” are specified in legible characters on the front of the card.
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.
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call us at +33 (0) 1 84 88 31 00 or send us an email.
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
Resources
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
Useful links
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call +33 (0) 1 84 88 31 00 or send us an email.
All information exchanged through this website will be communicated to lawyers registered with a French Bar and will remain confidential.
