Saturday, January 14, 2012

Credit Card Limitations

There are so many people in Indonesian who love credit cards.

According to news report, there are 14.3 million credit cards holders among our country's 240 million population.

This is obvious because credit cards provide possibility for people to live conveniently i.e. it provide them the chance to buy things by credit.

The bad thing about credit card is that it drove many of its holders into very consumptive people, it makes them buy things they want even though their financial position is weak.

I know some people whose monthly salary only enable them to pay the minimum payment limit i.e. 10% of the total credit card expenditures, therefore they facing trouble settling the credit and interest.

The most sadistic case happened last year when a holder of credit card issued by Citibank was beaten to death by debt collectors at the major U.S bank's Jakarta office.

In order to prevent credit card crisis, the Central Bank i.e. Bank Indonesia, issued regulation No. 14/2/PBI/2012 regarding Credit Card Transaction Procedures, among others as follows :
1) Minimum age of a holder is 21 (currently 17) years old.
2) Minimum salary of a holder is Rp 3 Million, maximum credit limit is 3 times the amount of salary.
3) Those who have salary below Rp 10 Million may only have two credit cards
4) Those who have salary above Rp 10 Million may get higher credit limit from the bank

The new regulation will become effective on 1 January 2013, with a two years transition period for banks to adjust their existing regulation with the said new regulation.

I hope that this new regulation would prevent any credit card crisis in the future.

45 comments:

colson said...

Bank Indonesia's regulation is a wise decision. These measures make really sense indeed. It helps to protect individuals against problematic debts. And it even may prevent society against another financial crisis.

Luke Regler said...

Hi Harry, good to see you are back in the thick of it. Credit Cards here are too easy to get, I should know! Credit is just too easy here to get. The new regulations are a step but what is really needed is real data from the applicants salary and job etc so that those completing forms for applicants cant falsify salaries etc to hit their quotas

Nice Veloso said...

Thank you for visiting my other blog my great friend! Around the world people love credit card. It is practical. I hope the banks immediately regularize the situation. Violence scares and is spread around the world. I hope that the peace rule your country and in the world!

smp3lembang said...

Sampai saat ini saya belum pernah punya kartu kredit Pak gimana ya enaknya belum bisa komentar

Raihan Mar'ie Ramadhan said...

I'm cool-cool just because it did not have a credit card.
Thanks for sharing,happy blogging.

Linda said...

Yes, 17 is too young to have a credit card. Hope the new rules help.

sawali tuhusetya said...

wah, untungnya saya tdk punya kartu kredit, mas nizam, sehingga ndak samoai terjebak dalam budaya konsumtif. semoga peraturan baru kali ini bisa membatasi ruang gerak pemilik kartu kredit utk jor2an belanja.

Kiwi Riverman's Blogesphere said...

Many people have changed to Visa cards - all the convenience of a credit card, but you use only your own funds, no credit.

deeahzone said...

yah, I hope the new regulation would evective to prevent any credit card crisis in the future. Thanks Harry Nizam, always get update info here.

H. Nizam said...

@Colson,
I agree with you.

@Luke,
Yes you are right, the most important is that the credit card issuer must make very sure that the information given by applicant is real especially regarding salary.

@Nice Veloso,
We hope that the new regulation would prevent any bad things related to credit card.

@Smp3Lembang,
Lebih baik tidak memakai credit card.

@Raihan,
Yes it would be cool if you do not have a credit card.

@Linda,
We have high hopes on the new regulation.

@Sawali,
Anda beruntung tidak punya credit card sehingga terhindar dari masalah tertentu.

@Peter/Kiwi,
Yes it would be safer to use a debit card.

@Deeah,
Let us hope so,

Ario Antoko said...

kartu kredit memang membuat orang jadi konsumtif dan lupa kalau KK itu sebenarnya kartu hutang :(

mesin fotocopy said...

Mudah2 an dengan ada nya kebijakan baru dapat mengurangi dampak negatif dan juga hal yg negatif yg berhubungan dengan debt collector

H. Nizam said...

@Ario,
Anda benar, banyak orang yang memakai kartu kredit seolah2 sebagai kartu debit.

@Mesin,
Mudah2an peraturan tsb bisa menertibkan penerbitan dan pemakaian kk.

Jolly Princess said...

I would say I am glad I am not a credit card user anymore. Although I am encouraging my nephew and nieces to avail one for themselves to establish credit history. I am also in constant reminder to them to be responsible credit card holders. :)

H. Nizam said...

@JP,
Good for you. I wish that I can throw away my credit cards but I can't.
Actually if we can control ourselves and use it right, the credit card is okay.

Wisata Murah said...

cukup siknifikan juga ya perkembangannya,denga pemegang card yang jumplahnya mencapai 14,3 juta itu sama dengan 5% dari jumplah penduduk kita,

semoga memang pelaturan terbaru ini benar benar memberi perlindungan terhadap pemegang kartu tersebut.biar kasus seperti citibnk tidak terulang lagi

Learn Indonesian in Bali said...

It's a good regulation because sometimes people don't use the credit card wisely. they have a lot of debts and they don't know how to solve the problem.

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TUKANG CoLoNG said...

saya masih belum punya hehehe

Cheqna said...

Its good to have a strict rules on the issuance of credit cards..people tend to overspend when given the chance.

I'm reducing mine.. :-)

attayaya-warisan said...

kadang pihak bank jor-joran ngasiin kartu kredit
apalagi jika target jumlah nasabah masih kurang

Erisuko said...

wise decision,

the credit card here is too easy to get, and too easy to spent.. but hard to paid... lol

satria jagad said...

hati-hati kartu kredit bisa membunuh keuangan rumah tangga per lahan-lahan

hotel murah said...

Thanks for visiting my web... =D
They should have known better, the credit card marketer always "help" those applicants in one way or another...

obyektif-magazine said...

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Umihoney said...

Salam sejahtera,
Hi Harry, I have stopped using credit cards and use debit card instead, even for online purchases. You are right, credit card can turn people into compulsive buyers.

Thanks for sharing

JASMINE said...

I dont' have credit card, poor me! but if i need it i will ask my husband to give his credit card. Haha..

bredmart said...

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H. Nizam said...

@Wisata Murah,
Semoga pemakaian credit card bisa lebih terkontrol.

@Learn Indonesian,
Yes I agree with you.

@Anonymous,
I wish that you mention your name and link so that we can be friends.
Thanks anyway.

@TUKANG CoLoNG,
Kalau bisa sebaiknya tidak punya credit card.

@Cheqna,
Yes strict rules would force credit card users to control themselves.

@Attayaya,
Benar sekali, bank memang sangat agresif dalam menyebar credit card.

@Erisuko,
You are very right.

@Satria,
Benar banya korban credit card

@Hotel murah,
It would only be good for those marketers.

@Objektif Magazine,
You are welcome.

@Umihoney,
Yes credit cards will turn people into compulsive buyers.

@Jasmine,
Good for you.

@Bredmart,
Thank you. i'll visit yours and follow back.

Info Kesehatan said...

This is my first visit here and I just wanted to give a quick shout out and say I truly enjoy reading through your posts, especially about "credit card limitations". Thank's for sharing.

H. Nizam said...

@Info Kesehatan,
Thank you for your visit and comment. I am glad you like my blog.

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lakban said...

Interesting post and thanks for sharing. Some things in here I have not thought about before.Thanks for making such a cool post which is really very well written.will be referring a lot of friends about this.Keep blogging.
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karton said...

Thanks for taking the time to discuss this, I feel strongly about it and really like learning more on this topic.
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jamaica coffee said...

Hi good to see you are back in the wide of it. Credit score Credit charge playing cards here are too simple to get, I should know! Credit score is just too simple here to get. The new legislation are a step but what is really needed is real information from the candidates wage and job etc so that those concluding varieties for candidates cant falsify incomes etc to hit their proportion
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Nissa said...

thanks infonya tentang kartu kredit pintar2 memilah yang penting atau yang tidak itu aja mungkin klo ada yang lain ??? aku juga gk tau

Yuka said...

to live frugal and not to waste, that credit should be easy to let business

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good your articel

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Obat Herbal Infeksi Saluran Kemih said...

wah saya ga punya kartu kridit nieh...

Nationwide Auto Loan said...

Thank you for viewing my other blog my great friend! All over the community everyone loves bank card. It is realistic. I wish the financial institutions instantly regularize the situation. Assault worries and is propagate around the community. I wish that the serenity guideline your country and in the world!

batu ginjal said...

mantab gan post nya, salam kenal

Deeahzone said...

Hi Harry..I hope you keep updating your Blog :D

yadi said...

thanks postnya keren, salam kenal