Credit card issued by Cajamar Caja Rural and linked revolving credit line granted by GCC Consumo Establecimiento Financiero de Crédito, S.A. Subject to prior authorisation, study of the documentation provided, and signing of the contract.
Revolving Credit
This payment method allows you to draw on your available line of credit and repay any credit used through a monthly instalment, which you can change at any time at no cost, choosing an amount that best suits your needs and interests, as long as it complies with the minimum amount established by the bank. This instalment amount is calculated based on the percentage you have chosen, with a minimum of 4.00% applied to your current line of credit. This method of payment involves the payment of interest.
The selected monthly payment is intended for the payment of contractual interest and partial repayment of the drawn-down capital.
Representative example of a revolving payment arrangement for €1500, with monthly payments of €43.28 over a period of 47 months plus a residual monthly payment of €43.41. NIR 17.00% APR 21.05%. Total amount repaid €2.137,57. Interest €577.57. Total cost of the credit €637.57. French amortisation system. This provision carries a fee of 4.00% ( €60), which is included in the calculation of the APR and will be charged separately in the first instalment.
Representative example calculated according to Order ETD/699/2020, of 24 July, regulating the revolving payment method. It may not be representative at all times of the instalment amount, the repayment period or the other conditions offered. Please note that instalment amounts may vary depending on the approved amount of the line of credit, other draw-downs you make, the period in which you repay the amounts drawn down, and taking into account that the minimum instalment amount is 4.00% of your current line of credit.
The chosen instalment influences the total cost of the credit and the period in which it is repaid; the higher the instalment amount, the less interest you will pay and the quicker you will repay it.
Remember to use your credit line responsibly considering your monthly income, fixed expenses and payment of other products you may have. Overreliance on financing carries a risk of over-indebtedness with long-term consequences that can affect your financial planning.
Deferred payments.
These will be subject to the commercial offer and conditions determined by the bank and for certain products.
These payment methods mean that the payment of the amount of the purchase made, charged to the available amount of the line of credit, is distributed over time by means of periodic instalments, with a specified period, and at the end of this term, the full credit corresponding to that use will be repaid. In this case, the bank will make available to you all the information related to the amount, number of instalments, NIR, APR, fees, charges and other related information, before you make use of the credit line in any of these modalities.
In addition, through the Plazox*, system, customers can defer payment on purchases made in stores charged to the available balance of the card, under different financial conditions from the revolving payment system..
You can defer any amount from €60 or €100, depending on the sector, and each retailer can also establish a higher amount. Representative examples of a single purchase in store of €1500 with deferred payment mode and financed fee:
- Payment spread over 3 monthly instalments, arrangement fee 2.5% (€37.50), monthly payments of €512.50, NIR 0% APR 16 %, total interest €0. Total cost of the credit €37.50. Total amount repayable and total amount of credit €1537.5. APR may vary depending on the repayment term. French amortisation system.
- Payment spread over 6 monthly instalments, arrangement fee 3% (€45), monthly payments of 257.50 euros, NIR 0% APR 10,71%, Total interest €0. Total cost of the credit €45. Total amount repayable and total amount of credit €1545. APR may vary depending on the repayment term. French amortisation system.
- Payment spread over 9 monthly instalments, arrangement fee 3% (€45), monthly payments of €171.67 plus one final instalment of €171.64. NIR 0% APR 7,38%, Total interest €0. Total cost of the credit €45. Total amount repayable and total amount of credit €1545. APR may vary depending on the repayment term. French amortisation system.
- Payment spread over 12 monthly instalments, arrangement fee 4% (€60), monthly payments of €130, NIR 0% APR 7,55%, Total interest €0. Total cost of the credit €60. Total amount repayable and total amount of credit €1560. APR may vary depending on the repayment term. French amortisation system.
Right of withdrawal: You have 14 calendar days to inform the bank that you wish to withdraw from your credit or loan agreement as of the date you sign the agreement or, if later, from the moment you receive the contractual conditions and the mandatory information established by law.
You can withdraw from your contract without having to give any explanations and without penalty by contacting the bank in any of the following ways:
- Notify the Customer Service Department: Atención al cliente, GCC CONSUMO, E.F.C., S.A, Paseo de los Melancholicos 14 A, 28005 Madrid, of your intention to withdraw from the contract, sending a written letter by certified mail with acknowledgement of receipt or other means that accredits sending and receipt.
- Call the customer service line on 900 813 576
If you exercise your right of withdrawal, you must repay, without undue delay, no later than thirty (30) calendar days after you have sent the withdrawal notification, any amounts drawn down from your line of credit plus the daily interest accrued on that amount, calculated at the applicable contract rate, from the date of the draw-down until the effective date of capital repayment.
If you have queries, please find attached a document adequately summarising the Adequate explanations about the characteristics of the credit line(in Spanish) (PDF 290,76 KB.).
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