The Ministry of Internal Trade authorized an increase in the interest rates provided for in the “Now 12” program, to buy in installments with a credit card. The measure was taken based on a claim made by the banks and was formalized through Resolution 404/2022, published in the Official Gazette.

Pursuant to the provisions, in operations carried out through credit cards, suppliers and/or businesses will charge within a period of up to 10 business days -for sales made in three installments- a maximum discount rate of 4, 06%. For sales made in six installments, the rate will be 7.81%. Meanwhile, both suppliers and businesses, in credit card operations, may choose:

-Receive within a period of 60 calendar days with a maximum discount rate of 11.33% direct or within a period of up to ten) business days with a maximum discount rate of 14.73% direct, for sales made with the 12 installment mode.

-Receive within a period of 60 calendar days with a maximum discount rate of 19.99% direct or within a period of up to ten business days with a maximum discount rate of 23.56% direct, for sales made in 18 installments .

-Collect within a period of 60 calendar days with a maximum discount rate of 26.36% direct or within a period of up to 10 business days with a maximum discount rate of 29.68% direct, for sales made in 24 installments .