TEMPO Interactive, Jakarta:Bank Indonesia is scheduled to set limits on credit card interest rates. General Manager of Credit Card Association of Indonesia (AKKI) Steve Marta estimated that the next interest rate credit cards issued by national banks could potentially be in the range of 2.5 to 3 percent. “There are banks that are already setting interest rates at 3 percent, but there are also those at 4 percent,” Steve told Tempo on Saturday, June 23, 2012. After the issuance of Bank Indonesia Regulation Number 14/2/PBI/2012 concerning the means of payment using cards (APMK) which set restrictions on credit card ownership, the central bank is currently preparing a circular letter. One of them has been issued, namely the Circular Letter of Bank Indonesia Number 14/17/DASP regulating the upper limit on the late payment of credit card bills, income, credit card ownership procedures, card terminations, and billing procedures. The Central Bank is at present preparing two other circulars, namely on credit card ownership adjustments and the maximum interest rate for credit cards. Bank Indonesia is reportedly going to push credit card interest rates to as low as 3 percent maximum. Steve explained that this was discussed long ago. Based on BI guidelines, credit card interest rates should be 3.25 percent in July 2012, following a decrease in July 2011 to around 3.5 percent. “It seems that BI desires a more aggressive decrease,” he said. MARTHA THERTINA