JAKARTA. The credit card provider banks are still considering applying the credit card rate at 2.25% before July 2017. One of the banks is PT Bank Central Asia (BCA).

Director of BCA Santoso Liem said, there are plus and minus points of implementing the lower credit card rate before the deadline. “BCA will consider the right moment to apply lower credit card rate before July. However, we have not decided the schedule yet,” Santoso said, Tuesday (17/1).

BCA is considering the profits and demands for debts in credit card before implementing 2.5% credit card rate. Currently, BCA applies the rate of 2.7% on the credit card with the label of local principal (BCA). Meanwhile, the bank applies 2.95% rate on the label of foreign principal.

According to Santoso, the bank will apply the rate of 2.25% as scheduled in July if the credit card growth remains slow in the first semester of 2017. BCA targets to secure the growth of credit card volume at the range of 5%-6% in 2017.

The credit allocation and the number of cards are targeted to grow by 11% and 6%-7%, respectively.

Head of Individual Customers Solutions and Retail Banking of PT Bank OCBC NISP Ka Jit said, the bank has not yet determined the schedule to adjust the credit card rate from 2.95% to 2.25%. “We will decide after conducting assessment,” Ka Jit said.

According to Ka Jit, the bank will be more competitive by adjusting the credit card rate earlier than July 2017. To date, the lowest credit card rate is 2.75% for the segment of titanium credit card.

General Manager of Indonesia’s Credit Card Association (AKKI) Steve Martha said, most of the banks will apply the rate of 2.25% in July 2017.

AKKI predicts that the credit card will grow by only 3% in this year. Director of Banking Retail of PT Bank CIMB Niaga Tbk Lani Darmawan said, the bank will apply the credit card rate at 2.25% in accordance with the regulation. CIMB Niaga targets to secure the credit card business growth at the range of 10%-15%. (Muhammad Farid/Translator)

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Editor: Barratut Taqiyyah Rafie