BSP open to extension of 2% cap on credit card rates
Published January 29, 2021, 5:00 AM Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said Thursday that the BSP could extend the imposition of a two percent ceiling on credit card interest rates for longer than six months to help Filipinos better manage their credit card debts. “That can be extended beyond the original six months,” he said after his weekly “GBED Talks” online press briefing. This implies that credit card users will continue to have lower billing statements for the rest of 2021. The BSP will be reviewing credit card rates and fees in May this year. BSP Gov...